5 Things to Know About White Collar Fraud

White-collar crimes in Texas are more serious than you may think, and penalties for a white-collar conviction can be severe. White-collar crime is a broad term that refers to a wide variety of criminal offenses, including various forms of fraud. Indeed, according to the FBI, “the term white-collar crime is now synonymous with the full range of frauds committed by business and government professionals,” and the offenses typically “are characterized by deceit, concealment, or violation of trust and are not dependent on the application or threat of physical force of violence.”

While many fraud offenses and other white-collar crimes might not seem as serious as violent offenses, it is essential to understand more about fraud crimes and what to do if you are facing charges. The following are five things to know about white-collar fraud crimes in Texas.

1. Many Different Types of Fraud Crimes Exist

There are many different types of fraud charges a person can face in Texas, such as bank fraud, business fraud, computer fraud, credit card fraud, disaster relief fraud, health care fraud, insurance fraud, mail fraud, mortgage fraud, securities fraud, and wire fraud. In some cases, a person can face multiple types of fraud charges depending upon the alleged acts the person has committed. Since the start of the pandemic, fraud charges have been brought pertaining to COVID-19 relief fraud.

2. Fraud Offenses Are Often Charged Under Federal Law

Many fraud and fraud-related offenses are charged under federal law. Since most types of fraud involve interstate commerce or the movement of persons or goods across state lines, many criminal offenses involving fraud will be brought under federal law. It is important to know that federal fraud charges are extremely serious.

3. Penalties for Fraud Offenses Are More Serious Than You Might Think

If you are charged with any fraud-related offense under state or federal law, the penalties are more serious than you might expect. Under federal law, in particular, you could be facing a sentence of many years in prison and a substantial fine. For example, a mail fraud conviction can result in up to 5 years in prison and a fine of up to $250,000. A wire fraud conviction can result in a sentence of up to 20 years in prison and $250,000 in fines.

4. Fraud Crimes Almost Always Require Intent

Fraud crimes almost always require the prosecutor to prove intent. Accordingly, many fraud defense strategies may involve proving that you did not intend to defraud.

5. You Should Have a White Collar Criminal Defense Lawyer on Your Side

Given the severity of fraud offenses and penalties upon conviction, you should always have a Texas fraud defense attorney on your side to help you fight these charges.

Contact Our Texas White Collar Criminal Defense Attorneys Today

If you are facing any kind of fraud charges in Texas, it is critical to begin working with an experienced Texas white collar fraud defense attorney as soon as possible. Our firm can assess your case and can begin building a defense strategy based on the particular details of your case. Contact The Law Offices of Tad Nelson & Associates today for more information.