“White-collar” does not refer to a specific crime. Instead, it is an umbrella term for a number of different crimes. These crimes are usually non-violent in nature and involve obtaining money or funds illegally. Read on to learn more about white-collar crimes in New Jersey and their penalties.
What are the Most Common White-Collar Crimes?
White-collar crimes are generally committed by high-profile individuals, often in business, finance, or government professions. The most common white-collar crimes include the following:
- Ponzi schemes: A common form of fraud where people pay into a nonexistent enterprise, believing it will succeed and they will receive quick returns on their investment. This is also known as a pyramid scheme.
- Extortion: When one party threatens another to give them money. Usually, one party threatens the other party with information.
- Embezzlement: When a person misappropriates assets with which they have been trusted.
- Corporate fraud: When information is falsified in order for a company to save or make money.
- Bankruptcy fraud: When people or businesses are unable to pay debts, they can file for bankruptcy. If certain information is hidden from the bankruptcy court, it is considered fraud.
What are the Consequences of White-Collar Crimes?
White-collar crimes are usually heard in Federal Court, meaning offenders can face federal sentencing guidelines if they are convicted of the crime. These guidelines were created by the United States Sentencing Commission to ensure consistency in sentencing decisions across the board by all federal judges. The penalties of these crimes chosen are based upon the offender’s criminal history and the nature of the crime they committed. There are 43 offense levels, 6 criminal history categories, and 4 sentencing zones that determine the federal punishment a person faces. If convicted, they may face a variety of consequences. This can include imprisonment, restitution, home detention, forfeitures, heavy fines, and more.
If you are facing charges for a white-collar cime, you will need the help of an experienced criminal defense attorney. Our firm will explore all possible avenues of defense.
Contact our Firm
If you are facing criminal charges in New Jersey, you need strong legal defense. Contact the Law Office of Carl Spector for dedicated representation. With over 30 years of experience as both a prosecutor and criminal defense attorney, he offers a unique perspective on how both sides think, and how to best approach each aspect of the case. When your future is on the line, don’t settle for less than the best possible legal representation. Contact an experienced New Jersey criminal defense attorney who will aggressively fight for you. Call today for a free confidential consultation. Let our experience work for you.