White-collar crimes are illegal, non-violent offenses typically committed by individuals or entities usually in finance, business, or professional settings. White-collar crimes are generally characterized by their fraudulent or deceptive nature, usually involving schemes meant to obtain financial gains through illegal means.
The state of Tennessee aggressively prosecutes these types of crimes, depending on the specific crime, the scope of the scheme, and the organizations or individuals involved in the case. If you have been charged with a white collar crime or are being investigated about one you’ve allegedly committed, you should consult with a Nashville white collar crimes lawyer as soon as possible.
At Nash Law, our experienced criminal defense team has the experience, knowledge, and resources to provide you with the legal help you need to achieve the best possible outcome for your case. Don’t risk your future or freedom by entrusting your case to just anyone. Contact us today at 615-NASH-LAW to schedule a free consultation with a white collar crimes defense lawyer.
What Are the Common Types of White Collar Crime in Tennessee?
The most common types of white collar crime in Tennessee:
Fraud
Fraud is a common type of white-collar crime, involving various deceptive schemes to obtain money, property, or services through dishonest means.
Some common types of fraud include:
- Insurance Fraud: Fabricating claims or exaggerating your losses to obtain unwarranted insurance payouts.
- Bank Fraud: Schemes to defraud financial institutions, such as check kiting, identity theft, and mortgage fraud.
- Securities Fraud: Manipulating the financial markets or deceiving investors through false statements, Ponzi schemes, or even insider trading.
- Healthcare Fraud: Intentionally billing for unwarranted medical services, kickbacks, upcoding, and other deceitful practices within the healthcare industry.
Embezzlement
Embezzlement happens when an individual who is entrusted with handling or safeguarding assets or funds misappropriates them for personal use. This crime often happens within corporate settings, nonprofit organizations, government agencies, and financial institutions.
The embezzlers use their positions of influence or trust to redirect money via illegal transfers, cooked records, or other methods.
Money Laundering
Money laundering entails disguising the sources of funds that were illegally obtained, usually by funneling them through legitimate businesses or financial transactions.
The process normally has three stages:
- Placement: The illicit funds are introduced into the financial system.
- Layering: The trail of the illicit funds is obscured through a series of convoluted transactions.
- Integration: The laundered funds are reintegrated into the economy as seemingly legitimate assets.
Insider Trading
Insider trading occurs when individuals trade securities based on non-public information obtained through their positions within a company or through relationships with insiders. This illegal practice undermines market fairness, giving insiders an unfair advantage over regular investors. Violations can lead to civil penalties, criminal charges, and reputational damage.
Cybercrime
With the rise of digital technology, cybercrime has become a significant threat to individuals, businesses, and governments. Cybercriminals use complex methods such as malware, hacking, phishing, and ransomware attacks to obtain sensitive information, disrupt workflows, and extort money.
The most common types of cybercrime include credit card fraud, identity theft, online scams, and data breaches.
Tax Fraud/Evasion
Tax evasion is knowingly underreporting your income, overstating your deductions, or employing other fraudulent methods with the aim of avoiding paying taxes. This crime deprives governments of essential revenue needed for public services.
Tax evasion schemes can involve complex financial transactions, offshore accounts, and sophisticated methods to conceal income and assets from tax authorities. Tax fraud can be a criminal or civil charge based on the circumstances of the case.
According to Tennessee law, you can be charged with a class C misdemeanor if you:
- Violate any tax regulations
- Fail to file your tax returns within the required timeline
- Don’t give the Department of Revenue the list of stockholders that you pay dividends to as a company/corporation
- Making false returns with the intent to avoid tax is charged as a Class E felony.
Penalties for White Collar Crimes in Tennessee
Penalties for white collar crimes in Tennessee vary based on the specific offense and case details. Some of the possible consequences include:
- Fines: Significant fines are common, often based on the amount of money involved.
- Imprisonment: Many white-collar crimes can result in prison sentences, which vary depending on the offense and case circumstances.
- Restitution: Restitution to the victims may also be required. The severity of penalties is influenced by factors such as the number of victims and the perpetrator’s trust position. A skilled lawyer can help negotiate sentencing options.
- Probation: Some offenders may be placed on probation, involving regular check-ins with a probation officer and possibly community service.
Having an attorney is crucial if you’re charged with a white-collar crime in Tennessee to understand potential consequences and explore defense options.
Get a Nashville, TN White Collar Crimes Defense Attorney
If you have been charged with or are under investigation for an alleged white-collar crime, get prompt legal help by contacting the experienced criminal defense lawyers at Nash Law. A lot is at stake, as you could face consequences that might affect you and your freedom for years to come.
Our team of white collar crime defense lawyers will review your case and build a strong defense on your behalf. Our goal is to thoroughly investigate the case and seek ways to have your charges dismissed or reduced.
Call or text us at 615-NASH-LAW to schedule a free consultation with a Nashville criminal defense lawyer today.
