Most New York residents know it is important to protect themselves against white-collar crimes such as identity theft and mortgage fraud. However, fraud relating to securities and commodities is also fairly common, though it may be harder to identify. A pyramid scheme is one type of fraud that has existed for a long time. Understanding the marks of a pyramid scheme may help people avoid losing their money in such a crime.
An alleged scheme to defraud Medicare of billions of dollars stretched across the United States, including New York, and has thus far resulted in criminal charges for two dozen people since authorities broke it up on Tuesday. As the investigation is still ongoing, and available evidence implicates 130 medical equipment companies, it seems possible that further charges could be forthcoming.
You may be one of many New Yorkers who believe that people convicted of white collar crimes are better off than people convicted of other crimes because the former receive lighter sentences. Forbes cites a recent study arguing that is not necessarily true. Rather, sentences for white collar crimes seem less severe because they are often shorter than what the federal sentencing guidelines recommend.
Tax evasion and tax fraud are two different types of white collar crimes. Both of them can result in serious penalty, however. They also share enough similarities that some people may use the terms interchangeably, despite the heavy differences that also exist.
Residents in New York might feel that they hear a lot about white collar crime cases, especially those involving some very high-profile people. This may well be due in part to the fact that New York City is the financial heart of the country. However, despite a seemingly excessive amount of media attention on these types of cases lately, recent statistics show that the number of such cases being prosecuted has dropped dramatically in recent years.
The FBI reportedly coined the term "white collar crime" back in 1939, a term that has since become synonymous with a wide range of fraudulent activities that business professionals commit in New York and other locales throughout the nation. The bureau makes corporate fraud one of its highest criminal priorities not only because it causes significant financial loss to investors but also, because it causes immeasurable damage to the U.S. economy. If you are at all worried about your business dealings, it is helpful to know what the FBI views as corporate fraud so that you may avoid similar activities.
Larceny is a criminal violation of New York state laws. It is a crime that entails unlawfully withholding property or taking it from its rightful owner without their consent. If you took property entrusted to you by a client or employer, you might face legal action. Neil S. Ruskin represents clients who need a defense for serious criminal charges.
People in New York might often wonder how a particular criminal sentence is determined when a person is convicted of a crime. The reality of the matter is that there may be multiple factors taken into consideration. Some crimes may even have mandatory minimum sentences as well as maximum sentences. When it comes to sentencing a person convicted of a white collar crime, judges may have more discretion than they would when sentencing a person for a street crime.
Many people in New York might not always know who could become the target of white collar crime charges in the United States. Some might believe that a person must be a U.S. citizen to face such charges. The reality of the matter is that a person does not have to be a citizen of the U.S. to be charged with offenses like conspiracy, fraud and more in this country.
Given that New York is essentially the financial center of the country, many professionals work in the financial services industry in some fashion. This may include actively trading stocks or negotiating other financial deals. When working in this arena, there can be a fine line between savvy business acumen and what some may deem as illegal activity. In at least two cases against defendants for federal white collar crimes, the Second Circuit court has made a relatively surprising ruling that may indicate it feels this line is not always properly identified.