When individuals believe that another person has attempted to deceive them or others, they may refer to that person as a fraud. Fraud can also refer to multiple actions classified as white collar crimes that could lead to a serious predicament if authorities believe that you have carried out any fraudulent activity.
Because “fraud” can be a rather broad term in some cases, it will be important to understand the exact allegations you face if such charges come against you. The more you know about the accusations, the better able you may be to determine what defense strategies could help you effectively address this serious legal situation.
Types of fraud
As mentioned, fraud involves a person carrying out deceitful actions, and most often, these actions take place in hopes of achieving some type of monetary gain. Some types of fraud include:
- Insurance fraud, which may include lying about an accident or injuries in hopes of obtaining an insurance payout
- Insider trading, which is a type of securities fraud that may involve someone with inside knowledge of a company buying or selling stocks to benefit him or herself
- Investment fraud, which is another type of securities fraud that takes place when a person gives deceiving information about a company in hopes of obtaining investors
- Ponzi scheme, which is similar to investment fraud in that they obtain money from investors even if a company or product does not exist
Of course, white collar crime can also involve other actions that involve a financial element but that do not necessarily constitute fraud.
Other white collar crimes
Someone may accuse you of embezzling money from your place of employment, and this action is considered a white collar crime. Generally, embezzlement involves someone taking money from a company for personal use. This could involve doctoring receipts or other financial records to make it appear as if no money is missing.
Tax evasion could also fall into this category. If an individual tries to avoid paying taxes that he or she knowingly owes, these charges may apply. This act could include completing tax forms with purposefully incorrect information or unlawfully moving assets in hopes of avoiding taxation.
Dealing with charges
If you face accusations of fraud or any other type of white collar crime, a strong defense may be vital to your case. Fortunately, you could utilize local legal resources in hopes of obtaining reliable and applicable information and assistance for your situation.