New York is commonly referred to as the financial capital of the United States. As such, opportunities to commit corporate and financial fraud are abundant. Sometimes just one rash or risky decision that did not seem to be that important at the time can come back to haunt you, especially if it turns out that your actions are technically illegal under New York state law.
There are many different types of white collar crime, and each has its own risks if you receive a conviction. The judicial system in New York takes corporate crime seriously, and if you are facing charges, or fear you may face charges, you should not take the risks lightly.
White collar crime in the U.S.
White collar crime is common in the United States. One study revealed that just one particular type of white collar crime, corporate securities fraud, carries an annual cost of $380 billion in the United States. This enormous figure gives a bit of an idea about how rampant the problem is, as well as the high stakes involved.
There is an incredibly wide range of white collar crimes that are punishable under the law. Fraud, insider trading, bribery and forgery are common types. However, there are also more recent types of white collar crime that have developed around the digital age, such as cybercrime. If you suspect that an action you have taken is unlawful, no matter how small, you should not discount the possibility that you may eventually face charges. And if you are already facing charges, now is the time to decide how you intend to plan your defense strategy.
Charges can ruin a career
If authorities charge you with a white collar crime, the experience has the potential to damage or ruin your reputation and your career. Charges like this often remain at the forefront in others’ minds, and the risks associated with a potential conviction are serious and can bring consequences that could impact you for many years to come.
If you are in a situation in which you require counsel regarding the risks and consequences of white collar crime, you should consult with an attorney who understands how the law in New York state operates in this sector. A consultation with an attorney can help you better understand your situation and work with you to plan your defense strategy.