If you have been arrested for a white-collar crime in New Jersey, understanding the charges being brought against you is imperative in protecting your legal rights and options. To learn more and secure skilled representation, reach out to a knowledgeable Mercer County white-collar crime lawyer today.
What is a White-Collar Crime?
The term “white-collar crime” was allegedly coined in 1939 by a sociologist by the name of Edwin Sutherland. The phrase was originally used to describe crimes committed by people of high social status in their occupations, like those in positions of trust or authority.
White-collar crimes are non-violent and financially motivated offenses. They result in significant financial losses for individuals and entities and can have substantial societal impacts. While these crimes do not cause physical harm, they still leave victims in their wake.
Some of the most common white-collar crimes include the following.
- Mortgage fraud: Misrepresenting information to secure a mortgage
- Health care fraud: Intentionally deceiving the healthcare system to obtain benefits and money
- Securities fraud: Misrepresenting information or manipulating financials to trick investors or influence their decisions
- Money laundering: Disguising the source of money or property that was obtained illegally to make it seem like it was procured in a legitimate way
- Tax evasion: Intentionally failing to pay or underpaying taxes
- Embezzlement: Misappropriating money or property that was entrusted to the individual’s care
- Bribery: Offering or accepting money or other benefits to influence an individual’s decisions or actions
- Insider trading: Using non-public information to take unfair advantage of the stock market
Who Are the Victims of These Offenses?
Individuals, companies, and the general public can be impacted in the aftermath of a white-collar crime. For example, embezzlement is the misappropriation of funds that were entrusted to a person. If an elderly man entrusts his banking information to his son, he could have his life savings wiped out if the son embezzles the funds for his own personal use.
On the other hand, a company could be completely destroyed by a white-collar crime like securities fraud if shareholders are tricked into acquiring a bankrupt company based on misinformation and false financial statements.
The general public is also affected by the various types of fraud-related white-collar crimes, as insurance costs may increase to offset false claims, for example. There are many victims of white-collar crimes, although they are not as obviously identifiable as a victim of an assault, say.
What Agencies Govern White-Collar Crimes?
White-collar crimes involve a variety of offenses, so there are several federal agencies involved in investigating and prosecuting these offenses. Some of the most notable names include:
- FBI (Federal Bureau of Investigation)
- IRS (Internal Revenue Service)
- SEC (Securities and Exchange Commission)
- DOJ (Department of Justice)
- USPIS (United States Postal Inspection Service)
- CFTC (Commodity Futures Trading Commission)
- FinCEN (Financial Crimes Enforcement Network)
It is important to note that individual states also govern white-collar crimes and often employ their own agencies to enforce laws and handle cases. In New Jersey, the main agencies involved in these offenses are the New Jersey Attorney General’s Office and county-specific prosecutors’ offices.
