Many people might not even be familiar with what it means to engage in white-collar crime. These crimes are often committed by people or employees involved in fraud, bribery, Ponzi schemes, embezzlement, insider trading, cybercrime, intellectual property infringement, racketeering, and more. Some of these cases, however, have reached the public eye and made it to the forefront of the conversation due to the amount of money and the person involved. If you have been accused of any of these or similar crimes, finding an experienced attorney will ensure that you get the legal counsel and guidance necessary for these complex cases.
Cases You May Know — Insider Trading Cases that Have Made Headlines
The government has stringent regulations regarding investments and markets in order to protect investors, the general public, and ensure fairness as much as possible. Insider trading refers to investors operating behind the scenes and being privy to information that is not available to the general public. In order to be convicted of insider trading, you would have to have a fiduciary duty to another person, institution, corporation, partnership, etc. Distinguishing between criminal insider trading and non-punishable insider trading can get a little complicated.
The Famous Martha Stewart and ImClone Case
Millions of people knew her as the mom-like entrepreneur who made her bucks by designing home decor products, her own line of china, table cloths, towels, and all that fun stuff. In 2001, Stewart got herself into a hot mess when she was accused of insider trading after selling 228,000 of stock in the ImClone biotech the day after her friend and founder of the company had advised her to sell. In 2004, Stewart was found guilty of charges including conspiracy and making false statements to investigators.
Cases of Unpaid Taxes — From Al Capone to Nicolas Cage
Al Capone was sentenced to 11 years in prison for not paying $215,000 in taxes. The famous Chicago gangster was sentenced after avoiding charges for more serious and violent crimes. The tax scandal was what brought the infamous gangster down, although he did not serve his full sentence.
The IRS can also come after people that have not paid their taxes. In 2009, Nicolas Cage was charged with owning up to $6 million dollars in unpaid taxes. Cage denied this responsibility and placed the blame on his money management team. He ended up suing his money manager for negligence and fraud.
Wesley Snipes is another famous actor with tax evasion attached to his name. It was said that Snipes avoided paying $7 million in taxes between 1999 and 2001. He claimed that he was only listening to advice from hired professionals on the matter. It did not go well for him but he fought it in court.
When Charged, Go to an Attorney You Can Trust
When being charged with any white-collar crimes like money laundering, owing back taxes, or insider trading, it’s important to know the value provided by an experienced attorney. These laws are complicated. The cases are complicated. We can help you mount a defense and ensure a fair case and trial. Call Rosales Law Firm and find out more about how we can help you fight criminal charges.