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What Is a White Collar Crime By Grano Law Offices, P.C.

What Are White Collar Crimes? See the 5 Most Common

[VIDEO] Marc Grano defines white collar crimes in this short YouTube video.

White collar crimes are frauds and schemes typically committed by government and business professionals. The nature of these crimes is non-violent and involves financial and managerial offenses, such as securities fraud, embezzlement, and money laundering. The term was coined in 1939 and based on the work attire of individuals who would have access to these instruments.

In this blog post, we look at the different types of crimes that are considered “white collar” and what you can do if you or a family member have been arrested. Speak with a criminal defense lawyer directly if you need more immediate legal advice regarding your case.


Five Most Common Types of White Collar Crimes

White collar crimes, like insider trading, counterfeiting, theft, and fraud, may not involve force or violence, but the criminal justice system pursues them because of the lasting impact they leave on society, individuals, and our economy. For instance, Bernie Madoff ran the most massive Ponzi scheme that caused thousands of investors to lose $65 billion in 2008.

According to the FBI, the most common types of “white collar” crimes committed in the United States include:

  1. Corporate fraud: Corporate fraud is the falsification of financial information designed to hide fraudulent activity. These crimes may also try to prevent the Securities and Exchange Commission (SEC) from making inquiries. Insider trading is an example of corporate fraud.
  2. Embezzlement: Embezzlement is a crime that involves a person in a trusted position who misappropriated business funds for personal use. For instance, an employee depositing money into their bank account instead of the bank dropbox is embezzlement. The charges for these crimes can escalate, depending upon the amount and level of proven deception taken by the employee in question.
  3. Ponzi schemes: Named after 1920s conman Charles Ponzi, a Ponzi scheme is an investment scam that promises high returns without risk to the investor. Instead of investing the money and making payments to clients, the Ponzi scheme perpetrator uses the money for personal or business expenses. When clients ask for their money back, the schemer needs to find new investors to keep the crime going. It generally falls apart when new clients dry up, and investments cannot be paid.
  4. Extortion: Extortion is the forceful coercion of giving up services, property, or money. Blackmail is a highly recognizable form of extortion in which one person demands money from his or her victim to prevent the release of public information that can damage their reputation.
  5. Bankruptcy fraud: Bankruptcy is a way for debtors to receive a fresh financial start so as long as they are following the rules. Courts review the financial picture and history of a case over the preceding six (6) months and prohibit the sale, transfer, or concealment of assets. Any of these actions can constitute bankruptcy fraud.

While the above-referenced list of white collar crimes is not exhaustive, other charges can fall under these examples. Different types of white collar crimes may include money laundering, tax fraud, tax evasion, bribery, identity theft, conspiracy charges, and health care fraud. If you are charged with any of these crimes in New Mexico, hire a criminal defense lawyer to build a legal defense and represent you in court.

In the realm of criminal law, crimes are often categorized based on their nature, the perpetrators, or the environment in which they are committed. One such classification is the distinction by color categories, which include white, green, red, blue, and pink collar crimes. This categorization provides a unique perspective on the different types of crimes, their perpetrators, and the potential harm they can cause. White Collar Crimes White collar crimes are typically non-violent in nature and are often committed by high-ranking employees in white-collar jobs. These crimes usually involve some form of deceit, breach of trust, or manipulation in pursuit of financial gain. Examples of white-collar crimes include fraud, embezzlement, insider trading, and money laundering. The term 'white collar' is derived from the white-collared shirts that were typically worn by office workers in the early 20th century. Green Collar Crimes Green collar crimes are a unique category that involve causing significant harm to the environment for illicit financial gain. This includes but is not limited to illegal logging, illegal wildlife trade, and dumping hazardous waste. The term 'green collar' is a nod to the environmental focus of these crimes. As global awareness of environmental issues continues to rise, legal systems worldwide are prioritizing the prosecution of such crimes. Red Collar Crimes Red collar crimes is a term used to describe high-level financial crimes that involve physical violence. These crimes are often committed by white-collar employees who resort to violence in order to cover up their financial misdeeds. In most cases, red collar criminals are driven by desperation to protect their reputation or financial status. This category of crime is relatively new and is still evolving in the realm of criminal law. Blue Collar Crimes Blue collar crimes refer to misdemeanor or felony acts committed by working-class individuals working in blue-collar jobs. These crimes are usually directly harmful to another person or property and are often violent in nature. Examples of blue-collar crimes include theft, assault, burglary, and vandalism. The term 'blue collar' comes from the blue uniforms typically worn by manual laborers and industrial workers. Pink Collar Crimes Pink collar crimes are crimes typically committed by women, and often involve embezzlement, fraud, and identity theft. The term 'pink collar' was originally used to refer to jobs traditionally held by women, such as nursing, teaching, or secretarial work. Nowadays, it's used to categorize crimes committed predominantly by women. Despite the gendered term, it's important to note that men can also commit pink collar crimes. Understanding these different categories of crimes provides a broader perspective on the diverse nature of criminal behavior. It also sheds light on the societal and environmental impacts of these crimes. For legal assistance related to any of these types of crimes, reach out to us at GranoLaw.com or call (505) 426-8711.
[INFOGRAPHIC] A definition of each type of collar crime, including white, green, red, blue, and pink.

Do Not Accept Responsibility for a White Collar Crime You Did Not Commit

There are many New Mexico businesspeople serving time in prison and paying fines for white collar crime convictions. When you face this situation yourself, it is imperative that you take the allegations against you seriously. Otherwise, the prosecutor will ensure that the judge hears the state’s side of the story, backed with admissible evidence and a plausible theory.

Challenge the case against you. The prosecutor must prove his or her allegations with admissible evidence. It is their responsibility to prove that you are guilty beyond a reasonable doubt. If they cannot do that, you should not be held responsible for the crime.

You have legal options. Use them before someone else makes a case against you. By retaining a criminal defense lawyer’s services in New Mexico, you have a fighting chance to defend your charges or reduce the severity of the potential consequences. You deserve to clear your name in a criminal court of law with as much privacy and discretion as possible.

Get the Help You Want from Grano Law Offices, P.C.

At Grano Law Offices, P.C., we know that bad things happen to good people. Our legal team wants to help protect your rights. Get legal answers with a Free Case Strategy Session now by messaging us privately about your case here or calling (505) 426-8711.

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