A nonviolent crime that is committed for monetary gain is known as white collar crime. White collar crime is a broad word in Minnesota’s penal code that refers to a multitude of various financial offenses. Here is some information about the most prevalent sorts of white collar crime, as well as the types of crimes for which you will require expert legal assistance to defend your case if you are charged with one:
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Due to the internet, internet crimes have become a more common type of white collar crime. Computers are used to get credit card numbers and personal identifying information from other people for this type of crime. Some people may create viruses that infect susceptible systems, send spam, or perform other tasks that help them achieve their financial goals. Because cyber crimes cover such a wide spectrum of acts, each one has its own penalty that is determined by the seriousness of the offense.
Mortgage fraud is defined by Minnesota law as willfully misrepresenting something important during the mortgage application process when you know the other party will rely on the information you provide. It can also include submitting inaccurate materials or enabling the use of inaccurate materials when the other party requires accurate information. There are two sorts of mortgage fraud: 1) profit fraud, in which loan companies take advantage of their position to make additional money off of loans, and 2) housing fraud, in which people seeking house loans misrepresent themselves in order to acquire a home loan.
Individuals or businesses commit tax fraud when they purposely underpay or fail to pay the taxes they owe. Tax evasion cases can be pursued civilly or criminally, and federal prosecutors are not reluctant to charge anyone suspected of tax fraud with criminal charges. However, just failing to file a tax return, even if it was done on purpose, does not constitute tax evasion. The willful and intentional manipulation of information on a tax return in order to decrease the amount of tax liability is known as tax fraud.
Another sort of white collar crime is insider trading. Insider trading occurs when people use insider connections to buy or sell stocks before the information is made public to the general public. This can happen when someone who is aware that a company is about to face a lawsuit or layoff decides to sell their stock before the information is made public in order to sell it at a better price. On the other hand, in order to get a better deal, a person can wait until bad news is made public before purchasing stocks.
A person who has filed for bankruptcy and concealed assets, filed a false claim, made false statements under penalty of perjury, destroyed or concealed financial information pertinent to the case, or paid or accepted a bribe, has committed bankruptcy fraud, which is a federal offense. Bankruptcy fraud can be classified as both a criminal and a civil violation. The distinction is that criminal fraud requires proof that the defendant acted with a knowing and dishonest intent, whereas civil fraud requires less deception and dishonesty.
Lauren Campoli provides expert legal representation to adults and juveniles who are facing misdemeanor, gross misdemeanor, and felony charges in Minnesota State and Federal Courts. She is a Minnesota State Bar Association Certified Criminal Law Specialist and is also a nationally-recognized trial lawyer who has tried over 50 jury trials, with a success rate of 87%.