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What are some common white collar crimes?

On Behalf of | Mar 15, 2021 | White Collar Crimes

Not all crimes in Oklahoma involve drugs and violence. White collar crimes typically involve scheming to take another person’s money or breaking the law to earn more money for yourself. These types of crimes usually don’t physically hurt anyone, but they still come with severe penalties.

What are some examples of white collar crimes?

Insider trading is one of the most common white collar crimes. In fact, some people do it without even realizing that it’s a crime. Insider trading involves getting confidential information about a business and using that to your advantage in the stock market. For example, if you heard that a law firm was planning to file a massive lawsuit against a business, you might sell your shares and cash out early.

Embezzlement is another form of white collar crime. Typically, this involves an employee taking funds from their organization and funneling them into their personal bank account. Unlike theft, which involves breaking into someone’s property or hacking their bank account, people who commit embezzlement have legal access to the money. However, they don’t have the legal right to misuse the funds for their own gain.

Every year, thousands of people in the United States fall victim to fraud. Fraud involves lying to someone so you can take their money or assets. If you’ve ever opened an email from a stranger asking you to send them money, they were probably trying to commit fraud. Some forms of fraud are simple while others involve massive schemes that take months to uncover.

Can you commit a white collar crime without realizing it?

Because of the nature of white collar crime, many people commit a crime without realizing it. Most people know that theft and murder are wrong, but they might not know that you shouldn’t use insider information or change a few digits on a form. An attorney could help you defend yourself from the charges.

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