Here's a fundamental point to note concerning the white collar criminal realm: It is not a narrow universe.
Many people in Indianapolis and elsewhere across Indiana might not immediately think of alleged wrongdoing in the white collar realm when they consider major categories in the criminal law universe. Other types of crime - sexual assaults, drunk driving and drug offenses, for example - often come to mind far more readily.
All clinics and hospitals want to provide quality health care. Most want to keep improving. Often, that means recruiting the best and brightest physicians available. To recruit these doctors and specialists, the clinics and hospitals need to offer competitive salary, but what happens if they raise the bar too high?
You don’t need to commit a fraud to find yourself under investigation for one. You might have made a billing mistake or misunderstood the terms of a contract. Maybe you decided to buy stock in your company at just the wrong time. Or perhaps someone in your office was committing fraud, but it wasn’t you.
The growth of the internet has been accompanied by a similar growth in the use of the internet to commit various kinds of crimes, including fraud and theft. Some internet crimes involve the theft of personal information, while others depend on the use of the internet for various kinds of fraud. For example, a local man has recently been arrested and charged with several crimes in the latter category.
A series of posts published on this blog a couple of months ago discussed various types of white-collar crimes-such as insider trading, insurance fraud, embezzlement, tax evasion and money laundering-and the penalties associated with those. This blog post will discuss the various activities and actions that can be the grounds for filing federal criminal charges against an individual for engaging in insider trading.
In Indiana, embezzlement is treated the same as theft and the laws governing embezzlement are the same as the laws that govern theft. As a result, embezzlement of $750 to $50,000 is considered a Level 6 felony, which can attract a prison sentence of six to 30 months and a fine of up to $10,000. If the amount embezzled is more than $50,000, it is considered a Level 5 felony that attracts 12-72 months in prison and fines of up to $10,000. A recent incident in the state will show why this discussion is relevant.
Over the last couple of weeks, the posts on this blog discussed some common white-collar crimes and the penalties associated with those. Those two posts provided an overview of insurance fraud, insider trading, tax evasion and money laundering and the penalties associated with these four white collar crimes.
Last week's blog post discussed the penalties associated with insurance fraud. Insurance fraud is a white collar crime that attracts penalties both at federal and state levels. In addition to insurance fraud, some other common white collar crimes are insider trading, tax evasion, money laundering and embezzlement. This post will discuss the penalties associated with insider trading, tax evasion and money laundering.
According to the Federal Bureau of Investigation, white collar crime relates to the full range of frauds committed by business and government professionals. Some major characteristics of white collar crime, per the FBI, are deceit, concealment and violation of trust. It does not involve physical force or violence and the motive is related to obtaining money, property, services or personal/professional advantage.