Learn about the most common New Jersey white-collar crimes in New Jersey
Get information about your what your next step should be if you’ve been arrested for a white collar crime.
Bankruptcy Fraud
When a business files for bankruptcy but does not report all their assets to the bankruptcy court to avoid their liquidation, this is considered fraudulent bankruptcy. A court discharges any debt remaining after non-exempt assets are liquidated, meaning that if a business misrepresents those assets, debt goes unpaid even though the company has the means. Essentially, this is theft.
Extortion
Extortion is defined as using any kind of force or threat of slander, violence, property damage, or other harm for financial gain. A common form of extortion is blackmail, which occurs when someone threatens an individual or business entity with the release of damaging information unless the individual or business complies with demands that are made, usually of a financial nature.
Corporate Fraud
Corporate fraud, also called corporate theft, is a broad term used to describe many types of white-collar crimes within a company. This includes but isn’t limited to insider trading or falsifying financial documents. For example, a company may falsify data about its performance in an attempt to convince new investors that a company has more value than it actually does.
Embezzling
The act of embezzlement occurs when a person illegally misappropriates corporate funds that they manage or control. An employee, for example, may find a way to deposit small amounts of company money into their personal bank account without leaving an obvious paper trail. Another example of embezzlement is when a politician uses campaign money to pay for personal expenditures.
Ponzi Schemes
A Ponzi scheme gets its name from the famous 1920s conman Charles Ponzi. A Ponzi scheme works by using money from new investors to pay previous investors versus using profits from services or sales. Investors believe the company is making a profit, but the plan disintegrates when no new investors are available to fund the business.
Why Contact a New Jersey Defense Attorney After Being Charged with White Collar Crime?
If you were charged with a white-collar crime, you stand to incur fines, jail time, and other harsh penalties. It’s crucial that you work with an experienced attorney who can help you develop strong legal defense strategies. Call Hubert Criminal Defense today for more information or to schedule a consultation at 856-384-6553.