Oftentimes, people equate crimes with physical violence. Wherever a blood is shed, a crime must have been committed. This is the reason why most people are more shocked when people belonging to the high society and are holding respectable positions in companies are tagged as criminals. What makes it more unbelievable is the fact that the crimes they have committed were so cunningly done that most people did not notice it until it was too late
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Such cases are what is known as white collar crimes. Consequently, the people involved are called white collar criminals.
White collar crimes is the term given by Edwin Sutherland in order to describe those kinds of crimes committed by a person respected by everyone and of high social status during the course of his work. This oftentimes overlaps with corporate crimes and includes, but not limited to, fraud, bribery, embezzlement, internet crimes, identity theft, and forgery.
As opposed to white collar crimes, blue collar crimes are those that are committed by people who belong to the lower social class. Murder, arson, burglary, theft, assault, rape, and vandalism as well as physical violence are considered to be blue collar crimes. In contrast with white collar crimes, blue collar crimes tend to be reported immediately.
One white collar criminal who has achieved both fame and notoriety is Michael Sabo. He is currently working as a security fraud consultant and speaker, a position which he was able to secure because of his track record as a great impostor as well as a world-class stocks and bonds forger. During his crime spree, he was able to get his hands on about 5 million US dollars.
Currently, of all the white collar crimes, it is mortgage fraud that has proven to be prevalent. This was basically brought about by the financial meltdown that has impacted the real estate industry. Several laws have been enacted in order to put a rest to this kind of crime, one of which is the Fraud Enforcement and Recovery Act of 2009 (FERA). The said federal law was enacted in May 2009 and provided for, among others, additional funds to numerous government agencies. FERA has also increased the length of jail time for convicted mortgage fraud criminals to about 30 years with fines of up to a million dollars. It has also change the statute of limitations for mortgage fraud to five to ten years. Aside from FERA, each state also has its own set of penalties and fines for people charged with mortgage fraud.
Other penalties for mortgage fraud as well as other white collar crimes include asset forfeiture, restitution or repayment, and jail time of three to five years or more depending on the gravity of the case.
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Such cases are what is known as white collar crimes. Consequently, the people involved are called white collar criminals.
White collar crimes is the term given by Edwin Sutherland in order to describe those kinds of crimes committed by a person respected by everyone and of high social status during the course of his work. This oftentimes overlaps with corporate crimes and includes, but not limited to, fraud, bribery, embezzlement, internet crimes, identity theft, and forgery.
As opposed to white collar crimes, blue collar crimes are those that are committed by people who belong to the lower social class. Murder, arson, burglary, theft, assault, rape, and vandalism as well as physical violence are considered to be blue collar crimes. In contrast with white collar crimes, blue collar crimes tend to be reported immediately.
One white collar criminal who has achieved both fame and notoriety is Michael Sabo. He is currently working as a security fraud consultant and speaker, a position which he was able to secure because of his track record as a great impostor as well as a world-class stocks and bonds forger. During his crime spree, he was able to get his hands on about 5 million US dollars.
Currently, of all the white collar crimes, it is mortgage fraud that has proven to be prevalent. This was basically brought about by the financial meltdown that has impacted the real estate industry. Several laws have been enacted in order to put a rest to this kind of crime, one of which is the Fraud Enforcement and Recovery Act of 2009 (FERA). The said federal law was enacted in May 2009 and provided for, among others, additional funds to numerous government agencies. FERA has also increased the length of jail time for convicted mortgage fraud criminals to about 30 years with fines of up to a million dollars. It has also change the statute of limitations for mortgage fraud to five to ten years. Aside from FERA, each state also has its own set of penalties and fines for people charged with mortgage fraud.
Other penalties for mortgage fraud as well as other white collar crimes include asset forfeiture, restitution or repayment, and jail time of three to five years or more depending on the gravity of the case.
If ever you find yourself on the receiving end of a lawsuit concerning any type of crime while you are in Arizona, your best bet would be to find Arizona Criminal Attorney or a Phoenix Criminal Attorney, if you are within the said city. These lawyers and attorneys are more knowledgeable about the different state laws concerning your case.
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