Often crimes are associated with a certain stereotypes, but in reality, any person in any walk of life can be accused of committing a crime. In fact, people in very successful positions quite often are accused of committing crimes such as fraud or embezzlement, because they regularly have a high level of responsibility or power to exploit.
If you have been accused of a white collar crime, it is vital that you work quickly in order to defend yourself. Sentences that result from white collar crime prosecutions are in fact quite harsh; therefore, it is important that you prove your innocence.
What consequences could I face if I'm charged with a white collar crime?
The exact charges that you might face will depend largely on the type of crime that you allegedly committed and the seriousness of the act. For example, insurance fraud is divided into two categories that relate to the seriousness of the crime. Soft fraud relates to the act of lies or exaggerations being told in order to achieve additional damages. This can be punishable through fines or probation. However, hard fraud tends to involve a much larger amount of money and can lead to up to 20 years in federal prison.
Similarly, money laundering, tax evasion, embezzlement and insider trading are considered white collar crimes, since they often take place within professional environments. The process for convicting a person of a white collar crime can be very complex, so it is important that you work quickly in order to establish a strong defense to the accusation.