What Are the Penalties for White-Collar Crimes?

man in handcuffs

While people tend to associate the term “crime” with violent behavior, this is not always the case. There are many crimes committed that do not involve violence at all. However, it is important to know that they are still serious crimes. This includes those known as white-collar crimes. In the past, these were seen as victimless crimes and rarely held consequences. Over time, this has changed and these convictions can now result in possible jail time and fines. Continue reading below to learn more and contact an experienced Nassau County criminal defense attorney for help with your case.

What are Common White Collar Crimes?

White-collar crimes are a type of criminal activity that is committed by high-profile people. These actions are often seen done by individuals in business, finance, or government positions. The most common white-collar crimes include the following:

  • Ponzi schemes: A form of fraud in which people pay into a nonexistent enterprise with the belief that it will succeed and they will receive quick returns on their investment.
  • Extortion: When one party threatens another to give them money. For example, blackmail and business extortion.
  • Embezzlement: When an individual misappropriates assets that are entrusted to them.
  • Corporate fraud: When information is falsified so that a company can save or make money.
  • Bankruptcy fraud: Individuals or businesses can face debts they are unable to pay, causing them to file for bankruptcy. If certain documents and information are hidden from the bankruptcy court, it is fraud.

What is Federal Sentencing?

White-collar crime cases are generally heard in Federal Court. This means offenders can face federal sentencing guidelines if they are convicted. These guidelines were established by the United States Sentencing Commission to ensure consistency in sentencing decisions that are made by various judges. The penalties chosen for a criminal offender are based on their criminal history as well as the nature of the crime they committed. It is important to note there are 43 offense levels, 6 criminal history categories, and 4 sentencing zones that determine federal punishment. If a person is convicted, they may face imprisonment, restitution, home detention, forfeitures, heavy fines, and more.

If you have any further questions about white-collar crimes in New York or you need a seasoned Nassau County criminal defense attorney to represent you and fight for your future, look no further than the Law Office of Jacob A. Rudman. We are on your side, and will be, every step of the way.

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