What Activities Are Considered White-Collar Crimes in Texas?

 Posted on July 29, 2020 in Criminal Defense

With the prosecution of new cases at the federal level for white-collar crimes down 25 percent in the last five years, it might seem easier than ever to get away with these nonviolent crimes. However, in the months since the beginning of the public health crisis, especially shortly after the enactment of the Defense Production Act, the Justice Department has been adamant about investigating and prosecuting white-collar criminals who are seeking to make illegal profits off of the pandemic, be it through price-gouging, equipment hoarding, market manipulation, insider trading, or fraudulent sales activities. In that sense, a flurry of activity prosecuting white-collar crimes is likely to reverse the recent downward trend in the number of cases and, since these are usually federal crimes, Texas residents are just as likely to face such charges as any other Americans would be.

What Is White-Collar Crime?

Reportedly first described by social scientist Edwin Sutherland in 1939 as crimes committed by people of high social stature through their professional work activities, “white-collar crime” concerns nonviolent offenses dealing mostly with financial transgressions committed by business and government professionals.

What Are the Types of White-Collar Crimes?

There are myriad types of white-collar crimes, and the list is only getting larger as the times change. Among some of the most common white-collar crimes are:

• Computer and Internet crimes, such as:

• Stealing data, including healthcare information, financial credentials, and entire identities

• Pirating content or products that have copyright (intellectual property theft)

• Making threats via email, social media, or other online sources

• Fraud and money laundering, including:

• Credit card fraud

• Check fraud

• Securities fraud

• Healthcare fraud, including Medicare fraud

• Mortgage fraud

• Funneling funds gained by engaging in criminal activities, violent or otherwise, through legitimate businesses (money laundering)

• Embezzlement, in which money is used for purposes other than what was intended

• Corporate crimes, including:

• Insider trading

• Market manipulation through fraudulent trades or inflated valuations

• False or deceptive accounting practices that misrepresent a company’s monetary worth

What Agencies Investigate White-Collar Crimes?

What makes white-collar crimes particularly unique is that the majority of them are investigated and prosecuted at the federal level since they often involve criminal conduct across state borders and even internationally; federal agents or federal land; the defendant crossing borders; or immigration/customs violations. As a result, the full investigative and prosecutorial power and resources of the federal government can bolster the charges, meaning these charges tend to be comprehensive and substantial. To achieve these ends, a wide variety of organizations might work together to build the case, including:

• The Federal Bureau of Investigation (FBI)

• The Securities and Exchange Commission (SEC)

• The Internal Revenue Service (IRS)

• The Treasury Department’s Financial Crimes Enforcement Network (FCEN)

• The U.S. Postal Inspection Service

• The Commodity Futures Trading Commission (CFTC)

• The Justice Department

• U.S. Attorney’s Offices

• Local, state, and international law enforcement agencies

• Additional regulatory commissions or other relevant organizations

• Financial institutions

Contact a Collin County White-Collar Crime Lawyer

Based on their well-researched and studied intricacies of these cases, if the federal government has lodged accusations against you for white-collar crimes, it is no easy feat to overcome such charges. That is why you need to hire a Frisco federal crimes defense attorney to guide you through this complicated and complex legal process. Reach out to the experienced team at the Law Offices of Biederman & Burleson P.L.L.C. by calling 469-333-3333 to schedule a free consultation so that you do not have to face such a daunting challenge on your own.

Sources:
https://texaslawreview.org/sorting-out-white-collar-crime/
https://www.fbi.gov/investigate/white-collar-crime
https://www.law360.com/articles/1271105/covid-crimes-white-collar-cases-to-expect-from-the-crisis
https://newrepublic.com/article/158582/theres-never-better-time-white-collar-criminal