In most cases, white collar crime doesn’t receive the same public attention as a bank robbery or murder. However, the amount of money involved in some white collar crimes would make the largest bank robbery look like someone robbing a lemonade stand by comparison. The #1 white collar criminal, Bernie Madoff, stole $65 billion from his clients.
The technical definition of a white collar crime is a nonviolent crime committed by a respectable person who is well-regarded in the local community. The crimes are committed with the skills used in his or her daily occupation in order to steal money for their own use. Most of the largest white collar crimes involved people in the financial industry (brokers, traders, those involved in handling other’s investments, etc.). After all, the prerequisite for stealing a lot of money is to have access to a lot of money.
The white collar crimes that don’t make the news are more likely to involve a bookkeeper stealing from their employer or a city official diverting funds to their own account. Some of these people begin the thefts with small amounts and it gradually mushrooms. Once started, the person may tell themselves that they will replace the money, but it just doesn’t happen. The theft may continue for years before it is discovered. For every minute of every day, that person may have been terrified that they would be caught. Many of these offenders had never been in trouble before. They had certainly never expected to be calling a criminal lawyer from the local jail.
Usually, white collar crime is a federal offense. These crimes are normally complex, involving many business transactions. It’s necessary to have a legal team that understands this type of case in order to have an effective defense. Conviction can involve substantial prison time and heavy fines, especially if any of the charges involve RICO violations (Racketeer-Influenced and Corrupt Organization Act).
T Michael Reed is a Criminal Lawyer in Hattiesburg MS who has experience with complex, white collar cases. The legal team works with accountants to research the evidence. If you suspect white collar charges are pending or if you have been arrested, call to schedule a free initial consultation with this experienced Criminal Lawyer in Hattiesburg MS and his skillful team.
