While your mind may jump to broken windows and burning buildings when you hear the word ‘crime,’ crimes don’t always involve physical harm. Rather, some Michigan residents are found guilty of white-collar crimes. These are non-violent crimes that deal with economic gains, and they’re on the rise.
One major white-collar crime that is on the rise is extortion. This is a criminal act that is defined as coercing another person or entity into giving up an asset. This asset could be money, services or even property. A great example of this would be a gang that forces store owners on a particular block to pay them ‘protection’ money every single month.
Many people wrongly use the words ‘theft’ and ‘embezzlement‘ interchangeably. Embezzlement is a specific criminal act that happens when a person is entrusted with an asset. Unlike theft, they’ve been given permission to handle the funds or assets. An embezzler uses their entrusted permission to misappropriate funds for their personal gain. A good example of embezzlement is when a political candidate uses their campaign funds to pay off their personal loans.
Corporate fraud happens when company caretakers falsify documents, commit insider trading or even develop concealment schemes to hide fraudulent activity. All of these activities are done in a way to impede the nation’s regulating bodies like the SEC while giving an advantage to a company or individual.
White-collar crimes happen every day throughout the nation. In fact, crimes like corporate fraud, embezzlement and extortion are on the rise. Being faced with criminal charges regarding a white-collar crime can be overwhelming. It’s always a good idea to consider hiring a licensed attorney to assist you with understanding the charges against you and formulating a viable defense for your case.