White-collar crimes refer to any crime that occurs frequently in a business or formal setting. They often involve banks, companies, and government organizations, and many of them are considered federal crimes. If you have been charged with this type of offense, it is important to hire the right Maryland white-collar defense attorney to represent you in court. White-collar crimes are always tried in federal courts, and if you are convicted, you could spend years of your life in prison. Read on to learn more about how a skilled federal criminal attorney could advocate for you.
What Is Insider Trading (Securities Fraud)?
The most common type of security fraud is known as insider trading. When an individual receives classified information about a company or organization and uses it to make investments or buy stock in the company, they can be charged with insider trading. The classified information involved usually relates to the financial health of the company, but it can be anything that gives the employee a financial advantage. Individuals can also be accused of securities fraud if they are believed to have knowingly misrepresented the financial health of a company to manipulate investors. If a someone is accused of securities fraud, they should call a professional Maryland white-collar defense attorney immediately.
Other Common Types of Fraud
Fraud is one of the most frequently committed white-collar crimes, and if an individual in Maryland is accused of fraud, they will need the legal guidance of a defense attorney. Here are some of the most common types of fraud in the country:
- Mortgage Fraud – Using false or misleading information to obtain a mortgage.
- Bank Fraud – Using false or misleading information to open a bank account, obtain a loan, or apply for a credit card.
- Identity Theft – Using the personal information of another person to commit fraud.
- Insurance Fraud – Using false or misleading information to obtain money from an insurance company.
- Business/Investment Scams – Convincing others to invest in a company by using false or misleading information.
- Tax Evasion – Providing the Internal Revenue Service with false information in an attempt to avoid paying taxes.
The crimes above are prosecuted in federal court, and if someone is convicted, they could spend numerous years in jail. For this reason, accused individuals should contact a defense attorney as soon as possible.
When Does Money Laundering Occur?
Money laundering occurs when someone attempts to make illegally-earned money appear legitimate. This is a serious crime, and it is frequently composed of three different actions. First, an individual usually deposits the illegitimate funds into a bank account. They then make numerous financial transactions, making the money difficult to trace. Finally, they combine the laundered money with legally-earned money, usually by selling or purchasing assets.
Embezzlement
When someone illegally takes money from another individual or entity that trusted them, they have committed an act of embezzlement. Those charged with embezzlement must have a relationship to the entity they are accused of embezzling from. Individuals accused of embezzlement often hold positions within the company they embezzle from, but other accountants, investors, and business owners can also be charged with the crime.
Reach Out to a Maryland White-Collar Defense Lawyer
While receiving a white-collar accusation can be a daunting situation, know that you do not have to face it alone. A professional Maryland white-collar defense attorney can help gather evidence, interview key witnesses, and act as an aggressive advocate for your defense. If you have been charged with a white-collar crime, consider reaching out to our criminal defense team to help with your case.
