Everything about White Collar Crimes

Well, every American must have heard about the WorldCom scandal. 

According to CBC News, it is one of the biggest account scandals in US history. During the investigation, the internal audits found improper accounting of expenses of over $3.8 billion over 5 quarters. The investigation resulted in the resignation of senior vice president and controller David Myers, as well as layoffs for more than 17,000 WorldCom employees. This incident is considered as one of the biggest white-collar crimes in the history of the US. 



Generally, white-collar crimes are committed for financial gains and include frauds such as money laundering, corporate fraud and money, securities fraud, embezzlement, election law violations, and more. The investigation of these crimes is done by US authorities including the FBI, the Securities and Exchange Commission (SEC), and the National Association of Securities Dealers (NASD).


Charges for White Collar Crimes
White-collar crime investigations are long and complicated. They include grand jury inquiries. The range of white-collar crimes vary widely and so the penalties vary widely as well. Some punitive outcomes for white-collar crime convictions include:
  • Probation;
  • Fines;
  • Community Service;
  • Restitution;
  • Property Forfeiture; and
  • Imprisonment.

Fines for white-collar crimes may vary from tens and hundreds of thousands of dollars.

If charged with any of the white-collar crimes, don’t provide any testimony or participate in an interview without your attorney’s approval. Consult with your attorney before providing any statement. The white-collar attorney will ensure that your statement doesn’t make you sound as a defendant. 



Are You Under Investigation For White Collar Crime?

No matter it’s a small business or corporate company, any system can experience white-collar crimes. Any with access to financial records can do such crimes or could be held accountable for these crimes. So if you find out, you have been targeted for white-collar crimes in your company, contact Eric Thole attorney at law. He has served Washington County for eight years as a criminal prosecutor.

You can contact this honest and dedicated criminal representative at 651-300-7389 for a free initial consultation.

Location: Stillwater, MN 55082, USA

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