When you think about common crimes in Texas, you may immediately think about matters like drunk driving, assault, or even burglary. However, many white-collar crimes are just as serious and are punished accordingly. If you have been charged with a white-collar offense, understanding the charges against you and the penalties you can face is critical. The following blog explores the importance of working with a Houston white collar crimes defense attorney to explore your legal options when you are in trouble.
What Are Common White-Collar Crimes?
In most instances, white-collar crimes are financial offenses. The name originates from the idea that office workers wear white collared shirts and suits, and, as many of these crimes occur in or around businesses, it was named accordingly. Unlike other crimes, these are generally non-violent offenses but are still considered serious. Many individuals commit these offenses because they are motivated by profit. Either they do not agree with the laws that are currently in place, or they believe the company for which they are taking money is too large to notice the missing funds.
Unfortunately, many of these crimes are considered “victimless,” as no one is harmed or killed as a result. However, this is far from the truth, as many of these crimes can result in extreme financial distress for the victims.
As such, the most common white-collar crimes include, but are not limited to, the following:
- Embezzlement: This occurs when someone, typically an employee of a company, takes funds from their employer for their own personal gain. It’s critical to note that this is not always considered a theft crime, as the employee has the authorization to handle these funds. However, the taking of the funds from the company renders it embezzlement as opposed to theft.
- Tax Fraud: A business may be accused of tax fraud if it attempts to evade or dodge the IRS. This is often done by failing to pay the correct amount of taxes owed. Often, businesses will alter their books to make their income appear significantly less than it actually was as a means of avoiding taxes
- Money Laundering: This crime occurs when money obtained through illegal activity is masked, or laundered, to make it appear as though it comes from a legitimate source.
Are the Penalties for These Offenses Severe?
In most instances, Texas classifies white-collar crimes as felony offenses. However, the type of felony you face is dependent on the financial loss suffered as a result of your actions. For example, if you cause between $1,500 and $20,000 in losses because of your criminal activities, you can face a state jail felony for this offense, carrying up to two years in jail and fines of up to $10,000. The more financial loss you cause, the more intense the penalties can become, with crimes costing companies more than $200,000 resulting in a first-degree felony carrying five years to life in prison.
As you can see, the penalties you can face for white-collar crimes in Texas can be incredibly severe, which is why working with an experienced attorney is imperative. At the Gonzalez Law Group, our dedicated legal team understands how serious these charges can be, which is why we will explore all potential avenues to help you fight for the best possible outcome. When you’re in legal trouble, don’t hesitate to contact our firm to learn more.