Chicago White Collar Crime Lawyer

What Type of Crimes Are Considered White Collar Crimes?

White collar defense attorneys take on cases involving a multitude of different crimes which are financially motivated. Some of the most common forms of white collar crimes lawyers see include:

Fraud

Fraud is a blanket term used to describe a wide range of white collar crimes that use misrepresentation for financial gain. Some of the most common types of fraud include health care fraud, corporate fraud, and financial institution fraud. These forms of fraud may include falsification of documents, misappropriation of funds, or other deceptive practices.

Embezzlement

Embezzlement occurs when a person in a position of trust or power abuses that position to engage in fraudulent activities that benefit them personally. This can include misappropriating funds into personal accounts, falsifying expenses, or fabricating records. 

Money Laundering

Money laundering is the practice of disguising the origin of funds gained through illegal activities, such as drug trafficking. This often involves the usage of a front organization that appears to be the legitimate source of the funds. Money laundering is often used alongside other forms of white collar crime. 

Securities and Commodities Fraud

Attempts to manipulate stock markets or other investment markets are a form of white collar crime known as securities and commodities fraud. This can also include pyramid and ponzi schemes, which attempt to generate returns for early investors using money taken from later investors. 

Insider Trading

When individuals use non-public “insider” knowledge about a company to buy or sell stock or securities for their advantage, it is considered insider trading. Non-public material information can include financial data that has not yet been publicly disclosed, information about a pending merger or acquisition that has not yet been announced, or other information only available to insiders that could potentially affect the stock price of the company.

Under What Statutes Are Alleged Offenders Charged?

White collar crimes can be charged at the state or the federal level, and in some cases, both. 

In Chicago and the State of Illinois, various statues are used to describe white collar crime. These include:

1. 720 ILCS 5/17-1 – Deceptive Practices: Prohibits intentionally deceiving parties for financial gain.  
2. 720 ILCS 5/16-1 – Theft by Deception: Prohibits intentionally using false pretenses to obtain funds or assets from another party.
3. 720 ILCS 5/17-50 – Computer Fraud: Imposes penalties for using a computer or computer network to commit fraud. 
4. 720 ILCS 5/17-3 – Forgery: Prohibits creating, altering, or wrongfully using a document to defraud another party.
5. 720 ILCS 5/33 – Official Misconduct: Defines and prohibits misconduct by government officials

At the federal level, there are a number of statutes and acts that define and prohibit forms of white collar crime. Federal white collar criminal defense often involves charges under:

1. 18 U.S.C. § 1961 et seq. – The Racketeer Influenced and Corrupt Organizations Act: RICO is a tool used to target criminal organizations suspected of fraud, extortion, money laundering and other criminal offenses.
2. 15 U.S.C. § 78a et seq. – The Securities Exchange Act of 1934: Focuses on protecting exchange markets against fraud, insider trading and other forms of manipulation.
3. 15 U.S.C. § 7201 et seq. – The Sarbanes-Oxley Act of 2002: Imposes strict accounting and financial reporting standards on publicly traded companies. 
4. 18 U.S.C. § 1343 – Wire Fraud Statute: Regulates and protects against schemes involving communications systems such as telephone, email, and text messages.
5. 18 U.S.C. § 1341 – Mail Fraud Statute: Aims to prohibit schemes involving the US mail. 
6. 18 U.S.C. § 1344 – Bank Fraud Statute: Prohibits schemes intending to defraud financial institutions. 
7. 31 U.S.C. § 3729 – False Claims Act: Allows individuals to sue on behalf of the government for false claims related to government programs. 
8. 15 U.S.C. § 78dd-1 et seq. – Corrupt Foreign Practices Act: Seeks to prohibit US companies from attempting to bribe or influence foreign officials. 
9. 26 U.S.C. § 1 et seq. – Internal Revenue Code: Imposes penalties for tax related offenses.

What Are The Possible Penalties?

White collar defense attorneys can defend you against prosecution at both the state and federal levels. The jurisdiction involved will depend on the nature of the crime itself. 

Crimes that are committed solely within the boundaries of the state will be prosecuted at the state level. If the scope of the crime crosses state borders, or involves a federal agency, then the crime will be charged at a federal level. 

State Level 

At the Illinois state level, some white collar crimes may be categorized as misdemeanors. Misdemeanors may include up to a year in jail and fines of $2,500 for crimes like theft by deception. Other crimes, like computer fraud, are considered felonies, with more substantial prison time, and fines up to $25,000.

Federal Level

Most cases of white collar crimes are prosecuted at the federal level, with federal agencies like the IRS, SEC, and FBI taking on the most complex and large scale crimes that cause widespread losses.

The exact penalties administered to a guilty party will depend on the nature of the crime, but nearly all will include significant prison time if found guilty. Securities fraud, wire, and mail fraud all carry penalties up to 20 years in prison, while bank fraud can carry a penalty of up to 30 years in prison. 

In addition to prison time, white collar crimes also carry significant financial penalties. Fines typically depend on the amount of the financial loss for the victims, and in some cases, offenders may even be required to pay restitution to their victims. A skilled white collar federal criminal lawyer can help mitigate these penalties.

In Need of a White Collar Criminal Defense Lawyer?

If you are facing charges related to any form of white collar crime, you need an experienced white collar criminal defense lawyer at your side. A white collar crimes lawyer can help you understand the specific charges against you, and get to work crafting a customized defense.

Sami Azhari is the principal attorney of Azhari LLC, one of Chicago’s leading white collar law firms. With nearly 15 years of experience, Sami will give you a fighting chance in your legal defense.

With Azhari LLC, you can expect:

• A knowledgeable white collar defense attorney, with experience at both the Illinois state and federal levels.
• A white collar law firm with aggressive representation designed to protect your rights and get you the best possible outcome.
• Strict confidentiality and discretion throughout the legal process.
• Custom defense strategy built around the specifics of your case. 

Don’t make the mistake of trying to go it alone. You need the help of a specialized white collar crimes lawyer. Contact Sami Azhari today for a free consultation on your case, and let us fight for your rights.