Securities Fraud

Securities fraud is divided into a wide range of subcategories. Insider trading is a common illustration. Insider trading is when a person exploits secret information they have about a company or investment to their financial advantage. The offender frequently uses the information in violation of their obligations or duties as a professional.

Let’s say a senior executive at a company is aware that the business will soon release a financial report. According to the research, the company’s stock is anticipated to lose value in the coming months.

 Securities fraud would occur if the executive decided to sell their stock shares for personal financial gain. This would be an instance of insider trading specifically.

When someone deceives an investor to obtain money or capital, which is another sort of securities fraud, securities fraud will apply if someone misrepresents a company’s finances or prospects to attract investors.

Other Types of Fraud

There are many varieties of white-collar fraud and White-collar crime defense attorneys. Insurance and mortgage fraud are the most typical types of white-collar fraud.

Recent years have seen an increase in mortgage fraud. One study conducted in 2019 discovered that one out of every 123 mortgage applications had false information.

Insurance fraud is when a person or company tells a lie to get a bigger payout from their insurance coverage. Systemic fraud against customers, suppliers, and other parties is another aspect of insurance fraud.

Embezzlement

Embezzlement happens when someone: 

• •  Lawfully holds onto another person’s property
• •  Removes or modifies that property for personal gain
• •  Has no intention of returning the item to its rightful owner.
  
  

 Consider the scenario when a worker at a company covertly transfers monies for their purposes into a personal bank account. This is theft, so it’s embezzlement. Most embezzlement instances involve a person given access to substantial assets, like an employee or a business executive.

Money Laundering

This crime happens when someone uses a legitimate business or another avenue to siphon money obtained from unlawful conduct. By hiding the source of the money, money laundering aims to make it appear as though it was acquired legitimately.

A conviction for money laundering in New York State may result in a wide range of penalties. Charges for money laundering might be of varying severity.

 The least serious charge, fourth-degree money laundering, carries a maximum four-year prison sentence. The most serious charge, first-degree money laundering, carries a maximum 25-year prison term.

Allegations of white-collar crime are very severe. Consult with a white-collar crime attorney as soon as possible if you face a charge of wrongdoing.

Tax Evasion and Tax Fraud

When a person or organization deliberately tries to avoid paying their fair share of taxes, this is known as white-collar tax evasion. When trying to avoid paying taxes, offenders may employ several tactics.

The most straightforward instance of tax evasion occurs when the offender gives false information on their needed tax filings. Tax fraud, however, can also be far more intricate and complex.

For instance, businesses could overstate their income to avoid paying taxes. This frequently occurs in companies that primarily deal in cash.

A person or company could dishonestly transfer property or assets to evade paying taxes in more complicated situations. It is crucial to understand that filing your taxes incorrectly does not constitute tax fraud or tax avoidance.

The greatest result for your case can be achieved by meeting with an experienced and best white-collar crime attorney if you or your company is accused of tax evasion.