What You Need to Know About White-Collar Crimes

What You Need to Know About White-Collar Crimes

Though most of us do not think of a well-dressed person sitting behind a desk as a criminal, white-collar crimes are not uncommon in New Jersey. Please continue reading and speak with our New Jersey criminal defense attorneys to learn more about white-collar crimes in NJ and how our legal team can assist you if you’ve been charged with one. Here are some of the questions you may have:

What is a white-collar crime?

There are several different types of crimes that fall under the blanket term, “white-collar crime,” though they usually involve an individual who is placed in a position of trust or power committing an act of theft. In most cases, white-collar crimes are committed by a person who has access to sensitive information. Some of the most common types of white-collar crimes are as follows:

  • Ponzi schemes: A Ponzi scheme occurs when a person or business promises investors a significant return on investment, only to pocket their money and pay them back with other investors’ money. This gives investors the illusion that they are turning a profit. The most famous and recent Ponzi scheme was run by Bernie Madoff.
  • Extortion: Extortion is when someone has sensitive information about another person and uses that information to get them to hand over money. Essentially, extortion is blackmailing someone for a payout.
  • Embezzlement: Embezzlement is when someone in a position of trust within a company misappropriates company funds for their own financial gain.
  • Corporate fraud: Corporate fraud is when a company falsifies certain information to save or make money. Corporate fraud is considered a very serious offense.
  • Bankruptcy fraud: Many people use bankruptcy as a tool to help them out of a financial rut. However, it is not meant to be sued to hide or purposefully withhold certain information when filing.

What happens if I am convicted of a white-collar crime?

Generally, most white-collar crimes are considered felonies, which means that there is a very good chance you will face a wide array of severe penalties. Depending on the severity of your charges, you may face any of the following:

  • Forfeitures
  • Restitution
  • High fines
  • Supervised release
  • Incarceration
  • Community confinement
  • Home detention
  • A criminal record

Contact our experienced New Jersey firm

We understand how confusing certain legal issues can be, which is why we are dedicated to providing individuals with the compassionate, knowledgeable legal representation they deserve. Aronsohn, Weiner, Salerno & Kaufman has helped clients with various difficult legal challenges for over 40 years, which is why we know we have the experience needed to do the same for you. For experienced legal counsel regarding family law, litigation, business law, real estate, and criminal law, you know where to turn–contact Aronsohn, Weiner, Salerno & Kaufman today to schedule a consultation.

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