Myths About White Collar Crime

Myths About White Collar Crime

Open up the newspaper or turn on your computer, and chances are high that you will see a story about a government official or banker on the front page (or at least headlining the finance section). Often it’s because of some new business opportunity or something similar, but there’s also a good chance that person is in the news for committing a “white collar crime.”

These kinds of financially-motivated, nonviolent crimes continue to be a problem in America. Thanks to portrayals in media, there are plenty of myths surrounding white collar crime that are stuck in the minds of the general public. Here are five of those myths.

1. Prosecutors Won’t Go After the Powerful

There is a myth that prosecutors are afraid to go after the most powerful among us. The truth is that the rich and powerful are taken to court just the same as your regular citizen. Corruption cases, tax fraud and other financial crimes take a lot of work. It can take years of investigation to put a case together and get it ready for court.

2. There Is No “Hard Time” for White Collar Criminals

When it comes to white collar criminals doing time, it’s important to understand that they actually do. The perception is that white collar criminals don’t do the same amount of time as an ordinary citizen would or one would if they were convicted of a different crime. Nearly all those convicted for some type of fraud served prison time. In 1985, the rate was 40 percent. In 2012, the rate was 70 percent.

3. The Current Administration Isn’t Enforcing Anti-Corruption Laws

This so far hasn’t been true. The Trump administration oversaw a large case in September. They also brought charges against a member of the U.S. Army for a money-laundering scheme in Haiti. The Trump Administration is indeed conducting investigations and pursuing criminals.

4. No One Was Punished for the Financial Crisis

The is something that bothers many. It is believed that no one was held accountable for the financial crisis that plagued the nation nearly 10 years ago. In fact, multiple people have been sentenced to prison, including 56 bankers.

5. Robbery and Theft are the Same as a Financial Crime

A white-collar crime doesn’t put a perpetrator in direct contact with a victim, unlike robbery or theft. These people rarely even lay eyes on their victims. That doesn’t mean that there aren’t victims, it simply means that it can be more difficult to calculate the harm done. White-collar crime often involves crossing an ethical line and then continuing to violate the law in order to gain monetary reward.

If you have been arrested for a white collar crime like embezzlement in Atlanta, you need an experienced defense attorney fighting by your side. Call our office today to schedule an appointment for a case evaluation. You are facing serious consequences if you are convicted. Contact our team now to discover more about your legal options and how we can assist you. You do not have to fight for your freedom on your own. Let our team assist you.

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