In Wisconsin, unauthorized use of a person's identifying information or documents is a Class H felony. Identity theft is the act of stealing another's property for personal gain. A conviction for this white collar crime can have serious consequences for defendants.
White collar crime encompasses many different illegal activities such as health care fraud, computer crimes, identity theft and more. Embezzlement, a serious offense in the eyes of the law, is another crime largely relegated to the white collar workforce.
Forgery is a crime that generally involves creating a false document or writing a fake signature with the intent of passing the document, or signature on a document, off as if it were real. Forgery can also involve making an imitation of an item of value, such as historical papers, corporate documents, or even paintings with plans to pass the items off as if they were the originals.
When you hear the term "corporate crime," you probably think about the head of an organization committing a crime, but in reality, a corporate crime is committed whenever any employee of a company does something illegal in an attempt to benefit the organization that they work for. Even if the head of the company or its managers have no idea that the crime is being committed, they could still be considered legally responsible for their employee's actions.
If you invest in the stock market, you are probably familiar with the term 'insider trading' and how it is associated with the illegal trading of securities. What you may not know, however, is that not all insider trading is actually considered illegal. Instead, there are actually two types of insider trading.
Our readers undoubtedly know what the term "money laundering" has nothing to do with cleaning money by running it through a washing machine. However, many people may not understand specifically what is involved and how people may become accused of it. The term refers to a white collar crime that involves the process of taking money that was originally illicitly obtained and then working to make the money appear as if it came from a legitimate and legal source.
The Ponzi scheme is a type of con or scam that was reportedly first performed by a man named Charles Ponzi in New England back during the 1920s. Ponzi began his scheme by initially purchasing a small amount of international mail coupons that he would use show to investors as part of his pitch to convince people to invest. Ponzi reportedly would tell investors that he could give them a 50 percent return on their investment in as little as 90 days.
The term "white collar crime" was reportedly first used in 1939 to apply to intricate crimes that are committed solely for the purpose of financial gain. These types of crimes are generally federal offenses and are prosecuted through the federal court system.
A 68-year-old Pennsylvania man who has been charged in Wisconsin with racketeering and securities fraud has reportedly pleaded guilty to theft by contractor. The charges stemmed from alleged promises that the man made about investment properties at a resort that he was selling. The Wisconsin Department of Justice says these promises were misleading.
It may not be the crime of the century, but that hasn't stopped the Wall Street crowd from lining up for a front row seat at the Thurgood Marshall United States Courthouse in the lower part of Manhattan. That's where former SAC Capital Advisors hedge fund portfolio manager Mathew Martoma sits on trial for what the government is calling "the most lucrative insider trading scheme ever charged."