The Impact of a White-Collar Crime Conviction
Many people see white-collar crime as victimless. But a single act of fraud can destroy many lives. Both state and federal governments punish offenders harshly in hopes of deterring others from similar behavior. Depending on the exact details of your case, you could face the following penalties:
- Prison time — Based on the exact white-collar crime you are accused of committing, you may be required to serve less than a year in a county jail or possibly decades in a federal prison. If you are arrested for fraud or forgery in excess of $100,000 but less than $500,000 in Ohio, you could face three years in a state prison.
- Fines — The fines for white-collar crimes can be extremely high. For example, if you are charged with federal mail or wire fraud, you could face fines of $250,000 for each offense.
- Civil restitution — In federal fraud cases, defendants are typically asked to pay restitution to victims. Keep in mind that restitution is paid in addition to fines and not in lieu of them.
- Difficulty obtaining employment — Your application for certain jobs in the securities industry and financial sector will not even be considered if you are convicted of a white-collar crime.
A white-collar crime conviction can affect many lives. If you are your family’s primary care provider and you are incarcerated, who will look after your loved ones? By contacting a lawyer now, before it is too late, you may be able to reduce or eliminate the charges against you.