What are penalties of white collar crimes?

Under federal law, there are sentencing guidelines in place to make penalties for white-collar crimes more uniform throughout the system. These guidelines were established by the U.S. Sentencing Commission to ensure that more just laws were put in place. With these laws in effect, it is easier for officials to provide more appropriate penalties for white-collar criminals based on each individual case. Once the severity of white collar crimes was explored, the justice system put more strict punishments together to make up for the damage caused by them. These consequences may include jail time for individuals who have committed whiteΒ collar crimes.

Federal guidelines created multiple offense levels with varying degrees of punishments for individuals charged with these crimes. There are 43 offense levels, six criminal history categories and four sentencing zones that are taken into consideration when deciding the punishment that someone will receive for a white-collar crime. These punishments can be life-altering since jail time may be a consequence that individuals are faced with.

What’s considered to be a white collar crime?

White collar crimes consist of a variety of charges. These crimes can include forgery, identity theft, credit card fraud, mortgage fraud, insurance fraud, employee theft, embezzlement, bad checks, gambling offenses and Ponzi schemes. With these charges, an individual can face many penalties. Although white collar crimes are not violent in nature, they can prove to be detrimental. The effect of a white collar crime can be far-reaching. It can affect other individuals since they may be the subject of identity theft or fraud. These crimes can create a financially turbulent time for anyone who is the victim of the criminal being charged.

Why is it called a white collar crime?

These offenses are referred to as white collar crimes due to the profession of the individual who is charged. Since individuals in government, business and finance are referred to as the white collar working class, these charges have been known to be seen among these professionals due to their power and status. With a white collar job, it is deemed as a respectable profession. However, it may give them more of an opportunity to commit one of these crimes.

If you have been charged with a crime in New Jersey, it is essential to retain the services of an experienced criminal defense attorney. Contact the Law Office of Michael A. Policastro today to schedule a consultation so we can discuss your situation.