Types of White Collar Crimes

Higher-Level Crimes by Higher-Level Executives

White-collar crimes, commonly committed by professionals in business settings, are non-violent offenses typically associated with financial gain. These crimes are taken very seriously and often carry high penalties. To gain clarity on these complex crimes, let’s dissect a few prevalent types in Texas – continue reading to learn more.

Fraudulent Activities

Fraud constitutes a significant portion of white-collar offenses. Texas law recognizes several types of fraud, such as securities fraud, mail fraud, and wire fraud. Securities fraud involves deceptive practices in stock or commodities markets, while mail and wire fraud refers to using mailing systems and electronic means to execute fraudulent schemes.

Embezzlement

Embezzlement is another white-collar crime commonly observed in Texas. It involves the misappropriation of assets entrusted to one’s care, usually in a corporate setting. For example, a financial advisor might be charged with embezzlement for using client funds for personal benefit.

Money Laundering

Money laundering involves disguising illegally obtained money as legitimate income. The State of Texas is strict about cracking down on money laundering, with penalties depending heavily on the amount laundered.

Identity Theft

Identity theft is a growing concern in Texas. It involves stealing someone’s personal information such as credit card details, Social Security number, or other identifying data, usually to commit financial fraud.

Work With Texas Criminal Defense Attorneys

In conclusion, white-collar crimes in Texas encompass a wide range of offenses, all characterized by deceit, concealment, or a breach of trust. While they may not involve physical violence, the impact on victims and society can be significant. Texas takes these crimes seriously, with substantial penalties for those convicted. Awareness and understanding of these crimes are key first steps in prevention and appropriate action.

For help fighting back against white-collar crime charges, contact Shane Phelps Law at 979-596-6843.