Most Common White Collar Crimes in South Carolina
Considered to be crimes committed by politicians and businessmen, white collar crimes involve deception for financial gain. Given the nature of these crimes, they can be prosecuted at the state or federal level. With the recent uptick in white collar criminal offenses, the government performs thorough investigations for anyone accused of such activity. If you are facing such allegations, it is important that you seek representation as soon as possible.
In this blog, our South Carolina white collar crimes attorneys discuss the most common white collar crimes in The Palmetto State and the benefits of hiring experienced counsel.
Identity Theft
Using a person’s private information without their permission for your own financial benefit is known as identity theft. Identity theft is considered to be one of the fastest-growing financial crimes in the United States. In fact, the issue has become so much of a concern that in 2008, the South Carolina legislature passed the Financial Identity Fraud and Identity Theft Protection Act.
The Act provides numerous protections for consumers and details how businesses must dispose of private information. If you are found in violation of the Act, you could be fined and/or jailed for ten years. If prosecuted under federal law, you could be imprisoned for 15 years, fined, or both.
Money Laundering
Money laundering is the act of covering up the source of illicitly earned funds, making it appear that the money was earned through legal means. In the simplest terms, it is making “dirty” money appear “clean.” Money laundering schemes are often characterized by their complexity, with many offenders transferring funds between offshore accounts in an attempt to conceal the true source of the funds.
Under the South Carolina Anti-Money Laundering Act, penalties for money laundering depend on the amount of funds involved. At its most severe, if the illegally earned funds total more than $100,000, you could be sentenced to 20 years in prison and fined. If charged in federal court, you could be sentenced to 20 years in prison, fined $500,000 (or twice the amount of laundered funds, whichever is greater), or both.
Healthcare Fraud
Filing dishonest or inflated claims with a health insurance company to get the insurer to pay for services not provided is known as healthcare fraud. The issue has become widespread, with the Department of Justice charging more than 5,400 defendants in a recent year. Healthcare fraud can be committed by either a provider or recipient.
Common examples of provider fraud include billing for services not provided, upcoding (billing more expensive services than what was provided), and unbundling (billing for services in multiple codes that would be covered by a single code). Recipient fraud looks slightly different, involving individuals sharing their insurance ID card with others, duplicating or replicating ID cards, and even submitting false or misleading information to secure benefits.
At the state level, recipients and providers found in violation of the law are guilty of a class A misdemeanor. A Class A misdemeanor is punishable by up to three years in prison, a $1,000 fine, or potentially both. In instances of Medicaid fraud, a provider may be ordered to pay three times the amount of false claims in addition to a $2,000 court-imposed fine. If charged federally, you could be fined, imprisoned for 10 years, or both.
Tactical Defense Against White Collar Criminal Charges
If you have been accused of a white collar crime, the legal team at Ryan Beasley Law will review the facts of your case to determine what defenses may be available to you. If the prosecution has failed to provide sufficient evidence demonstrating your culpability, we may accentuate these weaknesses to get your charges dismissed or dropped.
A common defense when facing white collar criminal charges is lack of intent. For instance, if we can prove that you did not mean to use someone’s information for your own financial gain, then the prosecution cannot find you guilty of identity fraud. No matter what your situation, our legal team is prepared to highlight the flaws in the government’s case.
Charged with a Corporate Crime? Contact Our South Carolina White Collar Crime Lawyers Today
Accusations of a white collar crime should be taken seriously. At Ryan Beasley Law, we understand the stress you are facing and the severe punishments that potentially lie ahead. If you have been charged or are under investigation, now is the time to speak with our South Carolina white collar crime lawyers. To learn more about our services, contact us online or call us at (864) 679-7777 today.