Different Types of Business Fraud
Among the most serious of white collar crimes is business fraud. Business fraud can take many forms and the charges could lead to a criminal conviction that can follow you for the rest of your life. Your reputation, employment, and future employability are all at stake when you are accused of business fraud. Most cases of business fraud can be boiled down to a mistake, a false allegation, or simply a gross misunderstanding.
What is business fraud?
According to the FBI, business fraud is dishonest, illegal activities committed by individuals (or companies) to provide an advantageous financial outcome. It can often appear as legitimate business practices.
Some of the most common business fraud cases involve:
- Embezzlement: The act of stealing money from an employer or a business bank account. Most commonly in the form of funneling money into a personal account.
- Tax Evasion: The act of not paying due taxes either by purposefully neglecting to pay or by filing false information to skew taxes owed.
- Money Laundering: The act of making a series of transactions to make illegitimate or illegally obtained money seem legitimate or clean.
- Insider Trading: The act of buying or selling stocks based on confidential information that has not been publicly released, thereby giving an unfair advantage to their stockholders or board members.
- Theft by Deception: The act of convincing someone to pay money for services not rendered.
- Writing Bad Checks: The act of writing a check knowing that there are no funds in the account to back it up.
In many cases, the best defense to a business fraud charge is to argue that the underlying dispute is not really a criminal matter and should be dealt with in civil court.
Talk With An Experienced Attorney
If you have been charged with a business fraud crime, it is in your best interest to contact an experienced criminal defense attorney immediately. John W. Tumelty has been practicing criminal law in the state of New Jersey for more than 30 years. He has the experience needed to defend you against the most serious consequences of a business fraud charge.
Call 609-385-4010 Or Fill Out The Contact Form To Request A Free Consultation With John Tumelty Law Office
The articles on this blog are for informative purposes only and are no substitute for legal advice or an attorney/client relationship.