The word crime is likely to invoke images of gruesome murder scenes or harrowing narrations of muggings and stabbings in dark alleys. However, countless crimes committed every year are non-violent. They are more common in the corporate setup, and it is easy to become either an unwitting victim or perpetrator. The law treats these crimes just as seriously as it does the other felonies, which is why you should never face the charges without a lawyer. Here are four instances where you will find it necessary to hire a white-collar crime attorney.
You Get Accused of Corporate Fraud
Most people start working in the corporate field with the dream of putting in the hours of work to earn good promotions. That said, people do get impatient, which results in taking shortcuts to get to the top. Some of the shortcuts include falsifying financial information and insider trading. You could also get arrested for having a hand in schemes that conceal corporate fraud or impeding inquiries by authorities.
You Were Part of a Ponzi Scheme
Ponzi schemes are investment scams that promise people high returns and no risk in the process. The scheme generally involves bringing in new investors and using their money to pay the older investors to avoid complaints and to conceal the real nature of the business in question. With time, the number of investors will dramatically go down, leading to a collapse of the scheme. Sometimes, people create business models without the proper strategies, resulting in a Ponzi scheme. If arrested for running such a business, you might end up with a lengthy jail term or hefty fines. You should hire a criminal lawyer to aid in your defense.
You Are Involved in a Bankruptcy Fraud
People file for bankruptcy when they have been unable to remain solvent in their business or personal finances. However, a few individuals might exploit the loopholes in bankruptcy policies for personal gains. When you lie and hide assets, your creditors will suffer losses, and an attorney can help you deal with a bankruptcy fraud charge.
You Extorted Money
Extortion is another common white-collar crime and happens when you coerce a person or institution to give up money. An example is gangs that ask retail shop owners for protection money. Blackmail is another common form of extortion.
These are just a few instances when you might need a white-collar crime attorney. A lawyer will help you formulate a defense that will get you the best outcome.