Accused Of A White Collar Crime? Here Is What You Should Do

White-collar crimes are committed with the intention of financial gain. These are usually committed by individuals, business organizations, and government officials by deceiving people. They are nonviolent and comprise several types. Suppose you are accused of a white-collar crime. In that case, a criminal defense lawyer Knoxville, TN provides you with legal aid by representing you after analyzing your situation and building a solid case to defend you. 

Types of white-collar crimes:

  • Insider trading.

Insider trading is when individuals are aware of information or acquire material that has not been disclosed to the public and use it to their advantage to gain unfair profits in financial markets.

  • Embezzlement.

Often, individuals or entities are entrusted with financial assets for specific use. Embezzlement occurs when they use these assets for their unintended purposes or to gain money for their personal uses. 

  • Ponzi schemes. 

These are investment fraud lures in new investors with the promise of high returns at low risk. They rely on new investors to pay their previous investors. 

  • Money laundering. 

People engage in illegal activities to make vast profits and appear as though they came from legitimate business transactions. 

  • Tax evasion. 

Certain firms or people illegally misrepresent actual financial information to avoid paying the tax liability. 

The next step: 

Depending on each case, common punishments for white-collar crimes include fines, prison time, probation, community service, and restitution. These can tarnish your record and disallow you from finding any employment in the future. It is essential to take the necessary steps to dismiss or reduce your charges after an accusation. 

  • Hire a criminal defense lawyer. 

Having a lawyer by your side throughout the entire procedure is crucial for a successful result. Their extensive knowledge about law, experience with white-collar defense cases like yours, and skillset give them the ability to defend you properly. In addition, they help speed up your case proceedings and save your time and money in the long run. 

  • Protect your assets. 

Your accounts and assets are frozen when you are being investigated for the crime for evidence. The defense lawyer enables you to keep access to your lawful assets that do not link to criminal activity to sustain your lifestyle during the procedure and fund your legal expenses. 

  • Evaluate evidence. 

The prosecution builds a case against you to prove you guilty of a white-collar crime. Your lawyer examines the evidence they gathered and ensures that it was obtained legally and was not tampered with. They examine any weaknesses in their case and create defense strategies accordingly. They also use their resources and conduct thorough research to help collect evidence that could help your defense. 

  • Be silent. 

Do not speak unless you have your lawyer present with you. Any disclosed information or statements you make in a distressed state can affect your verdict. Let your lawyer carry out any relevant communication and be with you anytime you get questioned.