White Collar Crime

white-collarWhite-collar crime is a term encompassing nonviolent criminal offenses involving fraud and illegal financial transactions committed through deceit and motivated by financial gain. The typical white-collar criminal could be an office worker, business or fund manager and those involved in securities, banking, healthcare and the real estate industry.

The term “white-collar crime” was authored by Edwin Sutherland in 1939 during a speech given by to the American Sociological Society. Sutherland defined the term as “crime committed by a person of respectability and high social status in the course of his occupation.

White collar crimes include fraud, embezzlement, tax evasion and money laundering, Ponzi schemes, securities fraud, insider trading, insurance fraud, bank fraud, Bribery, blackmail, counterfeiting, Embezzlement, forgery, and antitrust violations.

White-collar crimes are generally investigated by the FBI, IRS, Securities and Exchange Commission and the National Association of Securities Dealers.
 

WHITE COLLAR CRIME PENALTIES

Crime

Statute

Max. Fine

Max. Penalty

Wire Fraud 18 U.S.C. § 1343 $1,000,000.00 20 Years
Mail Fraud 18 U.S.C. § 1341 $1,000,000.00 20 Years
Bank Fraud 18 U.S.C. § 1344 $1,000,000.00 30 Years
Counterfeiting 18 U.S.C. § 471 Judicial Discretion 20 Years
Health Care Fraud 18 U.S.C. § 1347 Judicial Discretion 10 Years
Bribery 18 U.S.C. § 201 Judicial Discretion 5 Years
Money Laundering 18 U.S.C. § 1956 $500,000.00 20 Years
Conspiracy 18 U.S.C. § 371 Judicial Discretion 5 Years
Perjury 18 U.S.C. § 1622 Judicial Discretion 5 Years
Bribery 18 U.S.C. § 201 Judicial Discretion 5 Years
Tax Fraud 26 U.S.C. § 7201 $500,000.00 5 Years
Racketeering 18 U.S.C. § 1961 Judicial Discretion LIFE
Obstruction of Justice 18 U.S.C. § 1503 Judicial Discretion 5 Years