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Rhode Island White Collar Defense Attorney

Mar, 20 2018 - By: S. Joshua Macktaz, Esq.
White Collar Defense Attorney

White collar crime covers a variety of offenses. They are non-violent crimes that involve deceit and are usually for financial gain. There are many instances when you need a white collar defense attorney, ranging from Ponzi schemes to tax evasion.

What Are the Different Types of White-Collar Crime?

“White-collar” is a broad category that covers several different types of crime.


The general definition of fraud is a wrongful deception that results in a personal or financial gain. It is also a person or thing that is intended to deceive others, like an imposter. There are several different types of fraud.

Mortgage Fraud

This type of fraud occurs when someone puts false information on a mortgage application to obtain a loan. Experts classify Mortgage fraud into three categories: fraud for profit, fraud for criminal enterprise, and fraud for housing or property.

Healthcare Fraud

Also known as medical fraud or medical abuse, healthcare fraud is a serious crime. It happens when a company or an individual defrauds a government medical agency like Medicare or defrauds an insurer. Healthcare fraud includes “phantom billing,” which is when a medical provider or doctors office bills for unperformed services and procedures. The FBI has jurisdiction over both private and federal insurance programs, and they are the primary agency that investigates and prosecutes health care fraud.

Insurance Fraud

An act that is committed with the intention of getting a fraudulent outcome from an insurance process is called insurance fraud. Perpetrators can be both insurance company claimants and insurance company employees. The FBI deals with several types of insurance fraud. These include:

  • Workers Compensation fraud
  • Premium Diversion
  • Asset Diversion
  • Fee Churning

Fraudulent claims are prevalent. They range significantly in severity, from slightly exaggerating the damage from a storm to deliberately causing accidents. Experts classify claims into two types of insurance fraud, hard fraud, and soft fraud.  Hard is when someone intentionally plans or makes up a loss. Soft is when a policyholder exaggerates their claim.

Securities Fraud

This crime is also known as Insider Trading. Securities fraud is when someone with inside, confidential information about a company uses that knowledge for personal financial gain in the stock market. Examples include knowledge of an upcoming earnings report or sale that would cause the company’s stock to go up or down.

Another type of securities fraud is luring an investor into a project using false information. Misleading or incorrect information in company reports is also considered securities fraud.

Money Laundering

Money laundering is the process of taking illegally obtained profits and turning them into legitimate assets. It is making “dirty” money “clean.” This process involves three steps.

  1. First, they deposit dirty money into a financial institution.
  2. A series of complex transactions take place which makes money hard to trace.
  3. Perpetrators integrate the freshly cleaned money with legal money using more transactions.

There are different types of money laundering including currency exchanges, structuring, bank methods, and double invoicing.


Embezzlement is when someone who was entrusted with assets criminally takes those assets. The most common example of this is an employee diverting money from his employers account into his own account. However, it can take many forms, including a lawyer overcharging for their time or investment advisors who use their clients funds.

Tax Evasion

Tax evasion is another crime that you may need a white collar defense attorney in court. This offense takes place when someone attempts to avoid taxes that they legally owe. Examples of tax evasion include illegally transferring property to avoid tax responsibility and filing fraudulent tax returns. As with most white collar crimes, there are hundreds of different ways to commit tax evasion.

What Are Some Consequences of White Collar Crimes?

Just because these crimes are non-violent does not mean that they do not have severe consequences. The government takes them very seriously, and a white collar defense attorney is imperative. The results of these crimes have severe repercussions in someone’s life. In the case of tax evasion, the IRS stipulates that a person can be put in prison for up to 5 years, fined up to $250,000, or both. That is just one example of the kind of prison time and fines imposed on a perpetrator.

How Can a White Collar Defense Attorney Help?

First and foremost, an attorney will help you understand the charges you are facing. Many of these charges are technical, so your lawyer will review them all and lay out exactly what you are being accused of. They will also plan the best course of action for your particular case. A qualified defense attorney will explain all the possible outcomes and consequences to you.

Many situations require a white collar defense attorney. It can be very complicated to go it alone. If you find yourself in one of these situations, don’t hesitate to seek legal advice immediately.

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