White Collar Crime: What You Need to Know
When it comes to conducting business, reputation is everything. No matter what your industry, how people perceive you and your brand is crucial to growth and financial success. In the current internet age, it’s likely that many of your clients or potential business partners will have heard about you before you ever meet them. At the very least, they will likely do their research to get a good idea of who you are and what your business represents.
Being charged with a white-collar crime can put your reputation in jeopardy and bring your business to a screeching halt. If you find yourself in the middle of such a scandal, understanding the legal and public effects of these allegations can help you determine what you need to do to protect yourself, your family, and your reputation. Here’s what you need to know:
What is White Collar Crime?
“White collar crime” is an umbrella term most people don’t actually understand. It brings to mind images from TV dramas where the shady business man is dragged out of his office, disheveled and handcuffed, ready to be thrown behind bars. This skewed perception of what white collar crime is can cause serious damage to one’s personal and professional reputation.
In reality, the term refers to financially motivated, non-violent crimes alleged to be perpetuated by businesses or government officials. These charges may include:
Money laundering alleged concealment of the origin of illegally obtained money, usually through foreign bank accounts or false business covers.
Bank fraud alleged illegal means of obtaining money or assets through falsely representing one’s self or business as a financial institution.
Bribery alleged payment or exchange of valuables for influence or power, usually over legal or governmental proceedings.
Credit card fraud alleged unauthorized use of a person’s credit card or information to make a purchase or access funds through fraudulent means.
Insider trading alleged use of confidential information to conduct stock exchanges to one’s own benefit.
Embezzlement alleged misuse and appropriation of funds placed in one’s trust, especially those belonging to one’s employer.
Ponzi schemes alleged false representation of a company’s success by use of investor’s funds to return funds of previous investors.
Copyright infringement alleged use of a copyrighted work without the permission or financial compensation to the copyright holder.
If you are accused of any of the above listed crimes or any other white-collar crime, seeking the assistance of a criminal defense lawyer in West Palm Beach can be vital to protecting yourself and those around you.
The Consequences of White-Collar Crime Accusations
In our current day and age, accusations of any type of crime can cause serious and lasting consequences. White collar crime charges can be even more damaging, as it brings your trustworthiness into question. Facing white collar crime accusations can damage personal and professional relationships for years to come. It can be impossible to truly bounce back from career damaging charges, especially if the accusation is dragged into the public and splattered across televisions screens and newspapers. This leads to financial strife up to and including bankruptcy and decreased quality of life. Even if you aren’t found guilty, white collar crime accusations can lead to harassment and threats, putting yourself and your family in harm’s way.
If you are facing white collar crime charges, getting ahead of the ball and building a solid defense quickly can help mitigate these and other potential damages. The Law Office of Patrick McKamey is experienced in successfully taking white collar crimes to trial. We may also be able to recover damages for your ordeal. Contact us now to learn how we can help you.