The term white collar crime has evolved over the decades to mean offenses which are committed by a high-status employee during the course of his employment. These crimes typically occur in a business or financial setting and are meant to bring about financial gain. Most of the time, these are paper crimes and rarely employ physical violence. If you have been accused of white collar crime, get started on assembling your defense right away. The Wilder Law Firm offers over 20 years of experience to deliver award-winning results.
White collar crimes are most often used to obtain money, property, and/or a professional advantage. One common offense is money laundering, which is an attempt to disguise the means through which money has been obtained, usually because the money is obtained through some type of illegal means, such as drug sales.
Although most money laundering offenses committed in Texas are prosecuted under federal law, the state does have its own laws related to the offense.
According to state law, the crime of money laundering has been committed when a person:
White collar crimes typically involve investigations that are long and involved. In fact, many of these investigations begin before formal charges are ever filed against an individual. Once contacted by law enforcement, through formal charges or even being questioned as a witness, a defense attorney should be contacted in order to ensure the individual’s rights are protected.
Most white collar crimes are considered felonies, and in Texas, the minimum prison sentence for a felony conviction is one year. If a crime is prosecuted under federal law, there may be a minimum sentence imposed to which the state must adhere. This means that a judge may sentence a defendant to probation and jail time is required by federal law.
Restitution is another method employed by courts during sentencing. The court can order an individual to reimburse a victim and the state for damage caused by the individual. Because the court usually does not take into consideration your ability to pay the required amount, they can legally take your car, home, or other unprotected assets in order to make the payment.