White Collar Crimes and Pyramid Schemes

White collar crimes are often over-exaggerated or romanticized in books and on television, but these are extremely serious crimes that come with severe penalties. The law does not treat charges of fraud, embezzlement, money laundering, or bribery lightly, because these crimes can be extremely complex and can affect many different people. That is why if you are convicted of any of these crimes, you should contact an experienced Philadelphia white collar criminal lawyer right away.

Types of White Collar Crimes

Fraud — Fraud is a legal term that refers to when someone intends to deceive someone else by falsely representing a material fact. Although fraud can occur in a number of different situations, in the business world, it commonly occurs in the context of unfair or deceptive business practices. Pennsylvania’s Unfair Trade Practices and Consumer Protection Law addresses fraudulent behavior in the context of business activity.

Under federal law, corporate fraud is considered a criminal activity and includes falsification of financial records, self-dealing by insiders, and fraudulent trading or hedge fund management.

Embezzlement — The crime of embezzlement occurs when someone who has been entrusted to care for or manage someone else’s money or property steals some or all of the money or property. In order to prove that embezzlement occurred, the prosecution must show that the person had legal access to the money or property stolen, but that the person did not have legal ownership of the money or property. Embezzlement goes a step beyond merely stealing; it requires that the person who stole the money was granted a position of trust. The punishment for embezzlement varies by how much money or property was taken, but it usually results in jail time of between one and ten years, as well as fines varying from $2,500 to $25,000.

Money Laundering — A charge of money laundering will often accompany charges of illegally obtaining money, through theft, embezzlement, or other illegal activity. Money laundering occurs when someone tries to hide the fact that the money was obtained illegally. This can be done in a number of ways, but it most commonly involves putting illegally obtained money into one or more bank accounts to hide its origins. Aside from a possible jail sentence of up to twenty years, you may be required to pay a fine that is double the amount of money laundered, which could result in an extremely steep fine.

Bribery — Bribery occurs when someone solicits, receives, or gives money or valuable items in exchange for a favor or something else of value. Bribery occurs in many different circumstances — bribing witnesses, sporting officials, bank officers granting loans, or even other individuals in day to day transactions. The penalties for bribery in Pennsylvania can vary widely and depend on several factors, such as whether there was violence used to incur the bribe and how much money or property was involved in the bribe.

Because of the seriousness of white collar crime charges, you should not wait to get in touch with a lawyer after you have been arrested. Your attorney can begin helping you prepare a defense right away and will be of assistance gathering witnesses, records, and other forms of evidence. This is your best chance at having your charges dropped or reduced. Our attorneys have experience handling all kinds of white collar crimes, and we will provide free initial consultations to help you understand your charges and prepare for your defense.