Along with other government agencies, the Federal Bureau of Investigation will review allegations of white collar crimes of different types.
Depending on the outcome, a New Yorker can wind up facing a range of federal charges. A conviction on these charges can land a person in prison for years if not decades.
Additionally, steep fines, restitution and other penalties are possible. Finally, after a conviction for a white collar crime, it may be very hard for a person to work in his or her profession ever again.
Some of these white collar crimes may seem pretty flagrant to those who read the news. Indeed, sometimes people who should know better make mistakes in judgment and will need help negotiating a punishment that is fair to all sides.
However, when one considers the gamete of white collar crimes, it is amazing how easily careless, but not criminal, business mistakes can lead to a federal charge. In many cases, one really could find himself or herself at the wrong place at the wrong time.
Corporate crimes
Government regulators and others are naturally very sensitive to a corporation’s records and accounting practices.
Errors with respect to these records, no matter how innocent, can draw the eye of investigators who may already have their minds made up.
In particular, they may see irregularities as some sign that an executive is trying to conceal the true financial condition of a firm or even just avoid a regulation
Insider trading
It is illegal for someone with privileged knowledge of a business’s operations to share that knowledge so as to help themselves, or their friends and family, to a profit on an investment.
For instance, a person who shares that a publicly traded corporation suffered losses more significant than predicted so as to encourage the sale of stock could face criminal penalties. This is so even if the information the person shared is true and would have been out in the public square eventually.
A slip of the tongue or some careless words can in some cases lead to an insider trading charge.
Process crimes
So-called process crimes are commonly charged white-collar offenses both in high-profile cases and other more routine matters.
Even if he or she was otherwise not involved in a fraud or other criminal activity, a person may face charges if he or she hides or destroys evidence of a corporate crime or tries to slow down an investigation.
Likewise, lying to or providing incorrect information to federal officials can also lead to charges.