White-collar crimes are a popular subject of seemingly larger-than-life films and television shows. Real-life stories of fraud often play out like films in the news — these crimes are complex and generally involve large, interconnected webs of different characters. People are heavily invested in these stories and wait impatiently to see how the situation will be resolved.

Of course, if a real-life fraud story is about your life, awaiting the outcome is probably not as exciting. You are likely feeling overwhelmed and afraid of how these accusations can change your life. With a skilled lawyer on your side, you can feel confident that your case is well-managed. Contact Will Fraley, Attorney at Law today for legal guidance and support.

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What is White-Collar Crime?

When a person or entity commits dishonest practices — generally in an attempt to prosper financially — this may be classified as white-collar crime. The defendants in these crimes are usually businesses, government officials, or individuals who work in professional environments. 

The following offenses are considered as white-collar crimes:

• Embezzlement
• Money laundering
• Counterfeiting
• Bribery
• Piracy
• Fraud

Fraud Crimes

Fraud is one of the most prominent white-collar crimes. An incident in which a person has lied to someone else or otherwise been dishonest in order to gain money or other benefits could be classified as fraud.

There are multiple types of fraud, including:

• Wire fraud: Wire fraud is a type of fraud in which emails, phone calls, text, or other forms of electronic communication are used as a tool in committing the crime.
• Tax fraud: Reporting falsities when completing your taxes is a type of fraud. This is also known as tax evasion.
• Mail fraud: Similar to wire fraud, the term “mail fraud” stems from the method of committing fraud — fraudulent communications are transmitted by mail.
• Insurance fraud: An insurance company or policy holder may commit fraud in order to gain financially.
• Bankruptcy fraud: Any type of fraud involving the bankruptcy process is a crime. In these cases, an offender may not be attempting to gain assets, but rather keep assets they have despite being in debt.
• Credit card and debit card fraud: This crime often involves stealing and using another person’s credit card information.
• Identity theft: Identity theft is a complex crime in which a victim’s personal information is used by someone else. This can be done for a multitude of purposes.

What is Forgery?

Forgery is a type of white-collar crime in which documents are falsified. Generally, forgery is committed as part of another type of crime. For example, a person may forge documents in order to commit fraud. Committing forgery is a felony, and the consequences for this crime may include years in prison and several thousands of dollars in fines. The class of felony assigned to a crime often depends on the scale of the offense.

What Are the Penalties for Committing Fraud?

There are many different types of fraud, and the consequences for these crimes can differ widely. In addition to the type of fraud crime that was committed, other factors such as the amount of money involved in the crime can influence the potential penalties. Fraud crimes are almost always considered felonies and being found guilty of fraud can incur severe criminal penalties such as prison time and significant fines.