White collar crimes are incredibly damaging offenses that involve financial losses and deception. If you are facing charges for a white collar crime in Pennsylvania, it is imperative that you seek the help of an experienced Pottstown criminal defense lawyer.

What Are White Collar Crimes?

You’ve likely heard the phrase “white collar job,” which refers to office jobs where workers generally wear business attire like button-down shirts and suits. White collar crimes get their name from the jobs that they are typically committed through.

White collar crimes are non-violent and financially motivated offenses, often committed by individuals in positions of trust or authority within a business or organization. The term “white collar crime” was first coined in 1939 by Edwin H. Sutherland, a sociologist who described it as a “crime committed by a person of respectability and high social status in the course of his occupation.”

While white collar crimes are not violent in nature, they can inflict serious harm economically and socially. These offenses can result in billions of dollars lost in stock and personal funds, loss of public or shareholder trust, higher costs for consumers, and more.

What Are Some Examples of White Collar Crimes?

White collar crimes are characterized by non-violence, deception, trust, and financial elements. Unlike many crimes, these rarely involve physical violence, force, or threats. They rely on lies and are committed by those who have been trusted with power over money and assets.

Some common types of white collar crimes include the following.

  • Fraud: This is a broad term that involves deceptive activities and schemes designed for unlawful gain. These offenses cause financial loss to others, like individuals or entities. Common types of fraud include securities fraud, insurance scams, mortgage fraud, Ponzi schemes, and more.
  • Embezzlement: Embezzlement involves the misappropriation of funds by a person who was entrusted with assets.
  • Insider trading: This crime involves buying or selling securities or stocks based on non-public information. This is illegal as it is unfair to make decisions based on information that has not been made publicly available.
  • Money laundering: Money laundering is the deliberate concealment of money, specifically the origins of funds that were procured through illegal activity. It generally involves several transactions through various companies to make the money appear to be legitimate and “clean.”
  • Bribery: Accepting or offering bribes is illegal and referred to as either bribery or public corruption. It is a breach of public trust and can influence decisions that significantly affect the public.
  • Tax evasion: Tax evasion is the crime of illegally avoiding paying taxes. Everyone has to pay taxes on their income, property, etc. This crime involves falsifying records or withholding information in an effort to avoid being taxed.

Any of the above offenses can create economic damages, erode trust, and create a sense of unfairness or anger socially. If you have questions or concerns about white-collar crimes, reach out to a skilled attorney today.