What is a White-Collar Crime?
As is apparent from the 4,700 prosecutions in a recent year, white-collar crimes are a serious threat to our economy. No white-collar crime is victimless, costing innocent individuals their life savings and placing businesses in financial ruin. The devastation from a white-collar crime is far-reaching, obliterating the nation’s trust in banks and other financial institutions.
Typically committed by individuals in power who deceive or conceal information for financial or personal gain, perpetrators may be prosecuted under state or federal law. If you have a connection with a businessperson or politician, or if you work at a company that has been involved in illegal dealings, you could be under investigation as well. If convicted, you may be imprisoned, fined, and even have your assets seized.
If the federal government suspects that you have been partaken in a white-collar crime, do place your freedom to chance. The moment you believe you are under investigation is the moment you need to contact our Greenville white-collar crime lawyers.
Financial Fraud
Anyone who steals a customer’s personal and bank account information for financial gain is guilty of financial institution fraud, more commonly referred to as bank fraud. Financial fraud may apply to banks, credit unions, and other types of financial institutions. If you are prosecuted under federal law, you could be fined up to $1 million, imprisoned for a maximum of 30 years, or potentially both.
Money Laundering
Money laundering is the act of attempting to conceal the source of unlawfully earned money. The process of making “dirty” money appear “clean” is usually accomplished by transferring money to offshore bank accounts to hide the source of the funds.
Federal charges may be brought under 18 U.S.C. §1956 or §1957. If prosecuted under §1956, you could be imprisoned for 20 years, fined $500, or twice the amount of the laundered funds (which is greater), or potentially both. Prosecution under §1957 could result in being sentenced to 10 years in prison, fines, or both.
For second-time or subsequent offenders, for transactions of $100,000 or greater, under state law, the offender may be sentenced to up to 20 years in prison, fined $500,000, or five times the amount of laundered funds (whichever is greater), or potentially both.
Medicaid Fraud
Submitting false information to get Medicaid to pay for services or treatments is known as Medicaid fraud. Providers, patients, and anyone who attempts to defraud the government to receive illegal benefits can be guilty of Medicaid fraud.
If you are found filing a false claim under The False Claims Act (federal law), you may be charged up to three times the loss incurred to Medicaid, plus an additional $11,000 fine per claim. If you are prosecuted under South Carolina law, you will be charged with a misdemeanor, punishable by a $1,000 fine and three years in prison.
Tenacious Representation Against White-Collar Crime Charges
Simply being charged with a white-collar crime does not mean that you are destined to spend time in prison. Given the extent to which the federal government investigates white-collar offenses, you may be named as a suspect when you have nothing to do with the crime.
Our team of legal professionals understands the anxiety that you are under. If you have been accused of committing a white-collar offense, the first call you should make is to the Greenville white-collar crime attorneys at Ryan Beasley Law. We will investigate your matter thoroughly to determine your extent of culpability. In many cases, we have been able to negotiate plea deals for clients, obtaining a mitigated sentence.
Contact Our Greenville White-Collar Crime Attorneys Today
If you have been charged with a white-collar crime, Ryan Beasley Law is here to help. Being found guilty of a white-collar offense can ruin your professional and personal ambitions, marring the rest of your life. Do not let your good name be dragged through the mud. To arrange a consultation with a Greenville white-collar crime lawyer, complete our online contact form or give us a call at (864) 679-7777 today.