What Is Considered a White Collar Crime in Texas?

 Posted on January 31, 2020 in Criminal Defense

When the word “criminal” is used, many people may picture individuals dressed in orange jumpsuits standing behind bars rather than a clean businessman in a nice suit walking down Wall Street. The fact of the matter is that many criminals fall between the cracks, especially those who have committed “white collar crimes.” White collar crimes are nonviolent crimes committed by employees while performing their job. This can include deceit, concealment, fraud, and bribery regarding finances. Many people see white collar crimes as “victimless” and thus deem their actions to be harmless. While they may seem less harmful than violent crimes, white collar crimes are not tolerated in Texas and throughout the United States, and they can result in serious consequences.

Examples of White Collar Crimes

Although many have heard the term white collar crime, few know the various crimes that fall under this category. Understanding the different actions that are considered white collar crimes is one of the best ways to avoid facing harsh penalties for your actions on the job. Some common white collar crimes include:

1. Corporate Fraud: According to the FBI, corporate fraud is one of their highest criminal priorities. Not only do companies experience significant losses due to fraud, but the economy also takes a hit, causing investors to lose confidence and trust in businesses and corporations. There are three activities that the FBI focuses on to monitor corporate fraud. These include the falsification of financial information, self-dealing by corporate insiders, and fraud connected to a mutual hedge fund.

2. Money Laundering: This refers to the concealment of funds, allowing criminals to hide their income, accumulate wealth, avoid paying taxes, and increase their profits. Money launderers conceal the source of income coming from criminal activity, making it appear as if money is coming from a legitimate source. This allows these businessmen and women to participate in a cycle of criminal activity, consistently disguising their income to continue funding themselves and their illegal practices.

3. Securities and Commodities Fraud: This form of fraud includes a variety of different illegal actions, including Ponzi schemes, pyramid schemes, promissory note fraud, and broker embezzlement.

Why Are White Collar Crimes So Common?

White collar crimes occur more often than you may think, and many offenders get away with illegal activities. Although a person who committed this type of crime is typically the first one blamed, his or her work environment may be a contributing factor to the criminal activity. Management’s attitude toward ethics and morality can lead individuals to feel as if rules do not apply in the workplace. This is especially true of management that encourages their employees to “do whatever it takes” to be successful and make money. Some may even be pressured by their workplace to make such choices. It is not uncommon for employees to consider white collar crimes as victimless crimes, thus making them feel less guilty about the crime itself.

Contact a Wilson County Criminal Defense Attorney

Although many white collar crimes go unnoticed, they often catch up with employees -- sometimes all at once. White collar crimes may seem harmless in the grand scheme of things, but those found guilty can face extensive prison time and large fines. At BRCK Criminal Defense Attorneys, we will work alongside you to get the best possible resolution for your case. We have a number of defense tactics to help those facing white collar charges and a potentially damaged career path. If you are facing charges for any of these offenses, call our Floresville white collar crime defense lawyers at 830-769-1010 for a free consultation today.

Sources:

https://www.fbi.gov/investigate/white-collar-crime

https://www.forbes.com/sites/roomykhan/2018/02/22/white-collar-crimes-motivations-and-triggers/#2f13c3bc1219