Understand the most common white collar criminal charges assessed in Maryland and learn what you can do to decrease your chances of a guilty verdict after an arrest. 

Embezzlement 

Embezzlement is an illegal financial activity that involves a person who manages corporate funds using their position within a company to misappropriate those funds. For example, an accountant may find a way to set up small transactions to their own bank account and hide the paper trail by falsifying documents. Or, a politician may use campaign funds to cover personal expenses.

Ponzi Schemes 

A Ponzi scheme, named after famous conman Charles Ponzi in the 1920s, is a type of fraud that attracts new investors and uses those funds to pay previous investors. This scheme relies on the belief that investors are receiving a portion of profits from sales or service when in reality, other investors putting money into the company are the source of the funds.

Corporate Theft 

Corporate fraud is a blanket term that encompasses multiple white-collar crimes like falsifying financial documents or insider trading. Most corporate theft cases revolve around accounting schemes intended to deceive company investors about the financial status of a company. Someone in the company will edit company performance data, which results in the attraction of new investors who believe the company has greater value.

Bankruptcy Fraud 

Bankruptcy fraud usually occurs when a business files for bankruptcy but attempts to hide property or other assets to avoid liquidation. Since the bankruptcy court can only liquidate non-essential or non-exempt assets, they must “forgive” or discharge the remaining debt. When a company fraudulently misrepresents assets, debt that could be paid is discharged, ultimately amounting to theft. 

Extortion 

Extortion is the gaining of money or property by nearly any kind of force or threat of harm, damage to property, slander, or negative government action. Extortion is a felony in all 50 U.S. states and can result in serious penalties. Extortion also includes blackmail, which is the threat of exposing damaging or embarrassing information about a person to individuals who have the power to use the information to harm that person.

Arrested for White Collar Crime? Contact a Maryland Defense Attorney Today 

If you were charged with any of the above or another white collar crime in Maryland, you face serious penalties, including fines and incarceration. A criminal defense lawyer can help you strategize effective legal defenses, such as lack of intent or entrapment. Call Britt Criminal Defense today for a consultation at 443-944-5705.