3 Most Common White Collar Crimes In Philadelphia

When you say the word “crime” every single person will immediately think of those crimes like dealing drugs, violence against another person, and/or the use of weapons. But in reality, there are different types of crimes. One of these crimes is white-collar crimes.

Understanding White-Collar Crime

White-collar crimes are non-violent crimes where the primary motive is financial deception. These are crimes done for the sake of financial gain for a company or a business. While white-collar crimes do not mean any harm to anyone, they can still cause many problems, especially to the perpetrator.

Below are the top three most common white-collar crimes in Philadelphia.

1. Fraud

When someone commits a deceitful act for their financial gain, this is immediately considered fraud. Many fraud perpetrators try on different schemes to trick and deceive other people to fall into their traps. There are three different types of fraud:

• Securities Fraud – This involves a person using a brand name or a well-known business name to sell stock to other people.
• Insurance Fraud – These are acts in attempting to gain insurance policy by giving people false and misleading information. Most insurance fraud can come with two different crimes.
• Business Fraud – This involves a company not just stating false statements about their financial status but also doctoring financial documents.

2. Embezzlement

Embezzlement is when an individual and trusted employee who handles the company’s money and property, use their position to steal the company’s funds. This case is mostly about employees who have found ways to transfer huge sums of money from the company to their accounts.

3. Ponzi Scheme

This type of white-collar crime is named after its original perpetrator, Charles Ponzi.  This is an act of crime where a scammer builds an investment scheme that offers “investors” a huge sum of money in return. They attract new investors so the pay for the initial investors comes from them. When the scammer no longer attracts new investors to pay off the initial investors, the scammer runs away with the money. This type of crime is also called “pyramid scamming” in some countries.

No matter which white-collar crime is committed, one will still be able to face charges and varying consequences. Of course, it will highly depend on the severity of your case. No matter which white-collar crime is committed, it is important to find a good lawyer that can help you defend your case.

The Best White Collar Crime Attorneys

If you are looking for the best white-collar crime attorneys that can help you with your white-collar charges, Brennan Law Offices might be the one you are looking for. We have tons of experience in defending individuals with their white-collar crime charges and giving them the best results. We are the best white-collar crime attorney in Philadelphia and have a team of Philadelphia expungement lawyers.