Many types of crimes that aim to bring financial gain, and are based on deceit, fall into this category. White collar crimes charges can involve federal or state laws, and investigations are often lengthy because of the significant numbers of paper trails that must be traced. In Florida and elsewhere, these crimes can include anything from tax evasion or insurance fraud to complicated insider trading, securities fraud and Ponzi schemes.
Ponzi schemes make up a significant percentage of white collar crimes committed by people who con others into investing in nonexistent projects. Some of the funds of new investors are then used to pay earlier ones, and typically, all goes well for some time until the new investments are no longer sufficient to repay all the investors and enrich the scam artist. Ponzi schemes are typically business-related.
Embezzlement is a white collar crime that usually involves an employee siphoning company money that was entrusted to him or her into personal accounts. Then there are infinite ways for businesses and individuals to commit tax evasion and the plans devised to launder money are also endless. Money laundering is a process of filtering funds that were illegally obtained through various transactions and businesses to clean it until it appears legitimate.
Unfortunately, many innocent and unsuspecting people in Florida are unknowingly pulled into scams, and before they know, they are arrested and accused of participating in white collar crimes. When this happens, it is crucial to secure the services of an experienced criminal defense attorney. Legal counsel can protect the accused person’s rights and establish the best possible defense.