What are Some of the Most Common White Collar Crimes? 

White collar crime is a type of crime that typically involves financial malfeasance or fraud. This type of crime is nonviolent in nature and is typically committed by someone in a position of authority or a position of trust, such as business owners or employees. White collar crimes often result in significant financial losses for victims, and as such, they can carry harsh penalties if you are convicted. 

If you are charged with a white collar crime, it is important to get help from an experienced criminal defense attorney. We can help you defend yourself against the charges and may be able to negotiate a plea agreement with the prosecutor.

What are the Most Common White Collar Crimes Committed in Tennessee?

1. Corporate Fraud

There is no single, universally accepted definition of corporate fraud. However, most definitions include some combination of the following elements: deception, misrepresentation, or concealment of material information; bribery and forgery; violation of trust; and financial harm to the company or its shareholders. Corporate fraud is a white-collar crime that is committed by individuals within a company, typically senior executives or employees who have access to sensitive company information.

2. Embezzlement

Embezzlement is a white collar crime that typically involves the theft of money or other property by an individual who has been entrusted with its care. The perpetrator may be an employee, vendor, or contractor who fraudulently converts the assets for their own use.

3. Insider Trading

The term “insider trading” typically refers to the buying or selling of securities by individuals who have access to material, nonpublic information about the security. This information could include, for example, information about upcoming mergers or acquisitions, earnings reports, or changes in a company’s management. Insider trading is considered a white collar crime because it typically involves sophisticated financial transactions and typically results in a financial gain for the perpetrator.

4. Money Laundering

Money laundering as a white collar crime generally refers to the process of concealing or disguising the origins of illegally obtained money so that it can be used without detection. This can be done by a variety of methods, including moving the money through a series of bank accounts or investments, or by purchasing assets such as real estate or jewelry. Money launderers may help to make illegally obtained money legitimized, or made legal, through the use of various methods, such as hiding it in legitimate businesses or investments, or simply spending it on legitimate goods and services.

5. Tax Evasion

Tax evasion is a type of white-collar crime that involves illegally avoiding taxes. This can be done by underreporting income, fraudulently claiming tax deductions, or smuggling goods into or out of the country to avoid paying import or export taxes.

6. Identity Theft

Identity theft as a white collar crime generally refers to the fraudulent acquisition and use of another person’s personal information for economic gain. This can include using someone’s name and Social Security number to obtain credit, opening bank accounts, or even obtaining government benefits. Often, the perpetrator of identity theft will be able to do this without the victim realizing what has happened until considerable damage has been done.

7. Intellectual Property Theft

Intellectual property theft as a white collar crime refers to the illegal appropriation of ideas, trade secrets, or copyrighted material by individuals in positions of trust within organizations. Intellectual property may also be obtained by computer hacking, another type of white collar crime. Intellectual property theft may include the unauthorized copying of software, the theft of corporate secrets, or the downloading of protected files. Often, these activities are carried out for personal gratification or for financial gain, and can result in significant losses for businesses and individual creators. 

What are the Penalties for White Collar Crimes in Tennessee?

There is no one answer to this question as the penalties for white collar crimes vary depending on the specific crime that has been committed. However, some of the potential penalties that could be imposed for white collar crimes include prison time, fines, and restitution. Additionally, those convicted of white collar crimes may also face probation or a suspended sentence, and may lose their professional license or be barred from working in certain industries.

What are Possible Defenses for White Collar Crime?

When it comes to defending against charges of white collar crime, there are a number of possible defenses available. One possible defense is that the defendant had no intention of committing a crime. This may be argued by showing that the defendant had no previous criminal record and was acting under the belief that what they were doing was legal.

Another possible defense is that the defendant was coerced or tricked into committing the crime. This may be shown by providing evidence that the defendant was threatened or misled into taking part in the illegal activity. There is also the possibility that the crime was committed in the course of carrying out a lawful business activity, and their keystrokes were logged during this time, or their system was hacked, for example. 

A third defense would be to argue that the defendant had a good faith belief that their actions were legal. This defense can be used in cases where the defendant mistakenly believed that their actions were legal, or when they had no way of knowing that their actions were illegal.

While it is said that there is no ignorance before the law, the law is often complex, and it is possible that the defendant misunderstood what was legal and what was not. Additionally, the law is constantly changing, and it is possible that the defendant’s understanding of the law was out of date.

What Should You Do if You Have Been Accused of a White Collar Crime in Tennessee?

If you have been accused of a white collar crime in Tennessee, it is important to contact an attorney at 615-NASH-LAW as soon as possible. The attorneys at our firm can help you build a defense and protect your rights. We offer free consultations so that you can learn more about your case and how we can help.