The Common White Collar Crimes In Connecticut

November 2, 2020
The Common White Collar Crimes In Connecticut

For some reason, individuals tend to believe that white-collar crime is not as severe as other crimes. Since they're usually seen as victimless crimes, people don't know the damage white-collar criminals can do.

The law doesn't feel like this. The penalties in Connecticut are very strict for white-collar crimes. People may face as much prison sentence as any other crime if they are found guilty of a white-collar crime.

Some of Connecticut's most common white-collar crimes are:

  • Fraud
  • Embezzlement
  • Money laundering

Many of them can sound similar, but all of these crimes are very different. Yes, all of them somehow involve money. That's where the similarities end, though.

Every year, Connecticut criminal attorneys serve hundreds of clients accused of white-collar crimes. You can call and talk with a Connecticut criminal defense attorney right away if you have been charged with any of these crimes.

Embezzlement and Fraud

Those charged with the crimes of embezzlement and fraud may face considerable prison time. Having a criminal defense lawyer in Connecticut is crucial so that you can have a chance of minimizing or dismissing your charges.  

One of the most prevalent forms of white-collar crime in Connecticut is embezzlement. Basically, it's when someone steals money from their business or employer. Before their crime is detected, most defendants continue to transfer money around for months or years.

Some widely known embezzlement examples include:

  • Attorneys who transfer money to their own bank account from a client's fund
  • Contractors or plumbers who charge their employers for fake jobs
  • A CEO that pays artificial bonuses or commissions to himself

In Connecticut, some of the penalties for embezzlement include:

  • You will face up to 3 months in prison and a fine of up to $ 500 if you have embezzled less than $500 in cash or property.
  • You will face up to six months in prison and fines of up to $ 1,000 if you have taken between $500-$1,000
  • The $1,000-$2,000 embezzlement includes fines of up to $ 2,000 and up to one year in prison.
  • Your sentence could range from 1 to 5 years in prison if you take $2,000 -$10,000 and face fines of up to $ 5,000.
  • Any $20,000 embezzlement will land you in jail for up to twenty years and you can face up to $15,000 in fines.

Fraud crime is equivalent to embezzlement. However, to be charged with fraud, you don't have to defraud your employer. When you cheat anyone for some financial gain, you may be charged with fraud.

Securities fraud or insider trading is one of the most prevalent forms of fraud. You may be charged with insider trading if you have knowledge of certain stocks and act on that information.

Money Laundering

Money laundering is the act of unlawfully taking the money you have earned and funneling it through some legitimate business. The aim is to mask the fact that you have made your money illegally.

Drugs, arms trafficking, or some other criminal activity include a number of sources of such income. You can make thousands of dollars selling drugs and then buy a property with that money. Then you sell the property to make a profit.

It's not always easy to spot money laundering. If you were charged with money laundering, chances are, the state has some fairly damning evidence. To have the charges minimized or dropped, the Connecticut criminal defense attorney will have to work hard.

If you have been charged with any of the crimes mentioned above, contact Criminal Lawyer in New Haven, CT to discuss your case.

All people are equal before the law. A good attorney.