What Are The Penalties For Common White Collar Crimes?


Most people perceive white-collar crimes as minor offenses. However, while these types of crimes are non-violent, they often involve some degree of fraud for financial gain and are often prosecuted by the federal government.

The term white-collar crime is used to describe criminal behavior that takes place in the business and political world. If you are accused of or arrested for any type of white-collar offense, you must retain the services of an experienced defense lawyer without delay. Depending on the circumstances of your case, you could face many years in a federal prison.

Following are the penalties for a few of the more common white-collar crimes:

  • Identity theft — Ohio refers to identity theft as identity fraud. You may be charged with this offense if you use, possess, or obtain another person’s personal identifying information without his or her consent. Identity fraud is a felony offense and the penalty can range from probation to 11 years in prison. Further, you may have to pay up to $20,000 in fines along with restitution costs.
  • Tax evasion — A willful attempt to evade taxes is a felony crime punishable by up to five years in prison and $250,000 in fines for individuals and $500,000 in fines for corporations.
  • Embezzlement — Embezzlement is a form of theft. The crime occurs when you take funds or property that you were entrusted to look after. The penalty for embezzlement in Ohio varies based on the amount you are charged with embezzling. For embezzling up to $500, you face up to six months in jail. If, however, you embezzle more than $500 but under $5,000, you are charged with a felony and face between six and 12 months in prison.

Topics:  Embezzlement, Fraud, Identity Theft, Tax Evasion, White Collar Crimes

Published In: Criminal Law Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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