Facing criminal charges of any type can be frightening, but defendants in North Dakota who have been accused of a white collar crime may feel especially worried. Because white collar crimes typically involve significant amounts of money, the consequences of a conviction can be severe. Understanding some of the most common types of charges in this category can help ease defendants’ fears and make it easier to proceed with defense planning.
Commonly referred to as insider trading, securities fraud involves a person who uses inside information regarding a company to act unlawfully. The most common example of securities fraud is that of an employee who has advance knowledge of a deal, earnings report or other financial news, and uses that information to sell off stock before the price plummets. This charge can also involve misleading potential investors. Purposely misstating a company’s financial situation or prospects in a bid to bring in new investors is another example of securities fraud.
Embezzlement is perhaps one of the more commonly recognized white collar crimes. Those who have been accused of taking or misusing money entrusted to them — such as moving company money to a personal bank account — may be charged with embezzlement. This often gets confused with money laundering, which is another common white collar charge. However, money laundering is actually quite different in that it involves making money obtained through illegal means “clean” by moving it through multiple institutions and transactions.
White collar crimes can carry stiff penalties for those convicted of breaking these laws. However, one of the first steps to crafting a comprehensive defense plan is to fully understand the charges and any related evidence. As such, a thorough review of this information is usually a good place for defendants in North Dakota to start.