What are the punishments for white collar crimes?
Posted By Law Offices of Jeffrey C. Grass || 10-Mar-2015
Unlike many criminal charges, building a case against and prosecuting white collar crime can take years. Many situations involve multiple charges, such as blackmail, bribery, fraud, embezzlement or extortion. Because there is a wide range of types of crimes, the sentences can vary. However, there is overwhelming evidence to suggest that the punishment does not always fit the crime.
The Heritage Foundation points out that there are too many laws and criminal offenses that complicate white collar crimes and the associated sentencing structure. As a result, the consequences can seem extreme.
Types of punishment for crimes such as insurance fraud, racketeering or money laundering can include the following:
Prosecutors often have the right to determine how a defendant will be charged in a white collar case. As federal officials are cracking down on these crimes, prosecutors often go for the maximum charges. This can greatly affect the potential sentencing and even change the way a defendant approaches the case.
According to the National Association of Criminal Defense Lawyers, the current U.S. Sentencing Guidelines create penalties that are too high for most crimes. Because of the very real possibility of spending decades in prison, a defendant may often forego the right to trial, the NACDL reports.
When faced with a charge related to any crime that falls into the white collar arena, it is important for people to understand just how serious the consequences may be.
While this information may be useful, it should not be taken as legal advice.
Categories: Embezzlement, Fraud, Money Laundering, Penalties, Restitution