White-collar crime is a specific category of offenses motivated by monetary gain. In other words, the objective is to gain money through unlawful means. White-collar crimes are not violent in nature, although they sometimes involve a violent threat. Instead, the individual uses deception to get what he or she wants from someone else. White-collar crime Columbus OH is fairly common and can take several different forms. When people hear the term, they often think of high-powered executives committing large frauds. However, it can also be committed on a smaller scale by people not in a significant position of power if they find the opportunity.
Embezzlement is the misappropriation of money or property by a person entrusted to handle it by an employer or company. In other words, a person who is responsible for handling money, such as an accountant or a cashier, instead takes the money for his or her own use.
Extortion involves getting another person to pay money through coercion. Blackmail is a type of extortion in which the victim pays money to the blackmailer who threatens to reveal damaging information about the victim or someone close to him or her. Extortion can also involve an implied threat of violence if the victim does not pay.
3. Money Laundering
Money gained from illegal activities, such as drug dealing or organized crime, can leave a paper trail that helps authorities track down the perpetrators. Money laundering involves trying to make the source of the funds appear legitimate by putting it through a series of complicated financial transactions.
4. Tax Evasion
Most types of income are subject to federal income taxes. People who attempt to pay less than what they owe by making false or misleading statements on their tax returns may face charges of tax evasion. This is different from tax avoidance, which involves claiming allowable deductions and credits to reduce one’s tax bill legally.