Stressed over Allegations of Insider Trading or Securities Fraud

white-collared-crime

Get Able Assistance from Qualified Lawyers

The term white-collared crime can be used to describe a wide variety of offences. By seeking the assistance of certified criminal lawyers, you can effectively defend yourself and assert your rights. In general, white collared offences are not criminal in nature and do not involve violence; they are usually committed for financial gain though fraud or deceit. Also, white-collared crime is usually (but not always) committed against organisations or companies. There has been a lot of debate recently about increasing the penalties against white-collared crime.

Different types of white-collared offences are listed below:

  • Insider trading: This type of fraud carries the most severe penalty for white-collared crime in Australia. The Australian Securities and Investment Commission (ASIC) can levy penalty costs upto $ 450,000 and/or imprisonment upto 10 years.

If an organisation is found guilty of insider trading, it may face upto 1 million dollars in fines. It is upto the ASIC to decide if it wishes to pursue the offence as a criminal or civil legal proceeding. Insider trading refers to illegal stock market trading and making profits due to access to confidential information. It is considered illegal because other stock market traders do not access to the same information.

  • Securities fraud: If an individual seeks investments or funding by misrepresenting the company’s finances, this is known as securities fraud. In such cases, an individual may be accused of securities fraud if he or she provides false information or publishes misleading public reports regarding the company’s financial health.
  • Insurance fraud: Insurance fraud includes giving false information in order to claim insurance which the individual would not been otherwise entitled to. It could also refer to selling of fraudulent insurance policies to customers.
  • Embezzlement: Embezzlement refers to the siphoning of funds illegally from trusts or company accounts for personal gain. Embezzlement offences can be committed by company employees, lawyers or investment consultants, for example.
  • Tax evasion: Tax evasion is the act of deliberately performing illegal actions in order to avoid paying tax. It also includes providing false information on tax forms. Tax evasion may be performed by individuals as well as business entities.
  • Money laundering: Money laundering refers to disguising illegal money as ‘clean’ money and gradually mixing it with conventional money through a series of complex transactions. These transactions are specifically designed to conceal the source of the money.

It can be extremely stressful to be accused of a white collar offenses and you may not be aware of how to protect your rights and defend yourself. An expert lawyer, specialised in white-collared criminal laws, can help you navigate different types of defence pleas that apply to your unique case.