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- posted: Oct. 15, 2022
- Criminal Defense
White collar crimes are non-violent offenses committed primarily for financial gain. Many people mistakenly believe that these crimes are not all that serious and that the punishments are fairly light, but the truth is that significant penalties are often sought for white collar crimes. Those convicted might get lengthy prison sentences and face hefty fines.
In Colorado the most commonly pursued white collar crimes include:
- Corporate fraud — This crime involves owners or executives of larger companies and publicly traded companies engaging in “insider trading.” This is when the executive illegally uses confidential information about the company to make stock trades for their personal benefit. Another type of fraud is falsifying a company’s financial position, commonly known as “cooking the books.” Owners or executives make the company’s financial position appear stronger than it is in reality.
- Embezzlement — This is another business-related crime in which an employee in a position of trust steals money from the company for their own benefit. These employees are usually involved in the company’s finances as part of their job, such as accountants and account managers.
- Extortion — The act of coercing another individual or entity into paying is called extortion. It usually involves a threat to harm a person or destroy their property if they don’t pay. Another form of extortion is when someone threatens to expose sensitive, private information that can damage a person’s reputation or financial interests.
- Ponzi schemes — This is a common type of fraud where someone sells interests in a fake investment with the promise of extremely high returns and very little risk. The creator grows the scheme by paying dividends to older investors with money from the new investors. The creator then typically cashes out before the scheme collapses in on itself as the money due to older investors exceeds the new money coming in from investors.
- Bankruptcy fraud — When an individual or business who is in a great amount of debt hides assets to avoid paying creditors, this is considered bankruptcy fraud. This person will attempt to seek the protection of the bankruptcy court claiming the inability to pay while still retaining assets that could be used to pay legitimate debts.
Based in Boulder, Colorado, the Polansky Law Firm is one of the region’s most respected criminal defense law firms. Our team works diligently to protect your rights and achieve the best possible results under the circumstances. If you are the subject of a white collar criminal investigation or are facing charges, feel free to contact us or call 303-415-2583 for an initial consultation.
