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3 common types of white-collar crimes

On Behalf of | Dec 19, 2018 | Uncategorized

Facing white collar criminal charges in Alaska is a serious matter. In some cases, in addition to state charges, white-collar defendants may also face federal charges, which tend to have harsher penalties.

Because white-collar allegations can have severe consequences, it is important to implement an effective defense strategy as soon as possible. If you learn you may be under investigation, do not wait until an arrest. Speaking with your attorney as soon as you suspect potential problems can help you protect your legal rights. 

1. Fraud

Alaska and federal statutes have extensive provisions criminalizing various types of fraud. Generally, a fraud crime involves misrepresentation or concealment with the intent of inducing a person or organization to give up property. This category encompasses a broad spectrum of activity. For example, investment fraud can involve presenting false information to induce investors to purchase. Another common type of fraud involves lying to obtain government benefits one is not entitled to. Providers who commit Medicaid fraud often do so in the form of overbilling or false billing.

Some defenses to fraud include an honest and reasonable belief of the truth of the information presented, or the lack of intent to obtain monetary benefits. However, one can still be guilty of fraud even if the target does not actually give up money or property.

2. Embezzlement

Embezzlement charges are based on the allegation the defendant unlawfully took funds that did not belong to him or her, but that he or she had access to. Most commonly, these charges occur with the accusal of an employee taking money from his or her employer. Other types of embezzlement can happen when a client entrusts money to someone such as an investment advisor who then uses it for his or her personal purposes.

3. Money laundering

Money laundering is another common white-collar charge. This crime consists of using various transactions to hide an illegal source of funds. For example, criminal organizations may use legitimate businesses to hide profits gained from illegal activities such as drug trafficking. Participating in such a scheme can result in criminal charges.