What is a White Collar Crime?

Dallas is a big city, and with big cities comes inevitable crime. While most people may think of city crime as violent acts, DWIs, and robbery, one big crime that many don’t consider is white-collar crime.

What is white-collar crime? Are they arrestable charges? Can you get a bail bond after being charged with a white-collar crime?

1st Call Bail Bonds in Dallas knows the law behind arrests from the inside out. If you or a loved one have been arrested for a white-collar crime, let’s get into the circumstances surrounding them and whether or not you’ll need a Dallas bondsman on your side.

What Are White-Collar Crimes?

White-collar crimes are financially propelled crimes that businesses, C-level employees, and government entities typically commit. They are commonly non-violent but still come with several repercussions from the law when committed.

While they may not physically impact a person, they can financially cripple people who have placed their funds in the hands of the business or person committing a white-collar crime.

There are four main types of white-collar crimes; extortion, embezzlement, fraud, and money laundering. Each has its specific details but all revolve around illegal monetary gains for the offending parties.

Extortion

Extortion occurs when one party makes threats against another party in return for a favor or in instances of white-collar crime, money.

Extortion is synonymous with blackmail and could include threats of revealing insider information, revealing embarrassing information, and threatening violence towards a person or their family.

Embezzlement

Embezzling is much like stealing. Yet, the key difference is that the funds have already been entrusted in the possession of the offender. Through fraudulent checks or just pulling the money out of accounts, when a person uses company money for their own personal means, this is a white-collar crime that could have a ripple effect on everyone involved.

Fraud

Financial fraud can occur in many forms. From corporate fraud to bank fraud, the term describes a financial crime in which the offender lies about the facts to obtain financial gain.

Money Laundering

When a person earns illegal money (i.e. drug trafficking, theft) and moves it around to legitimate accounts, this is a white-collar crime. Concealing money and “laundering” it clean can result in a swift arrest and the need for a bail bond.

What Are Common Charges for White-Collar Crimes?

White-collar offense charges range between a misdemeanor and a felony. The severity of charges and penalties solely depends on the extent of the crime.

For example, an amount of money stolen between $50 to $500 is a Class B misdemeanor with jail time of up to 180 days and fines up to $2,000.

When the money stolen increases to $1,500, so do the charges. A Class A misdemeanor comes with punishments of up to 1 year in jail and fines up to $4,000.

When Does a Crime Become a Felony?

When the amount of money stolen goes beyond $1,500, white-collar crimes in Texas come with jail-time that ranges from 180 days to 99 years and fines of up to $10,000.

Of course, when deciding judgment, the law also takes other factors into account like a person’s prior criminal record, who was defrauded, people harmed from the crime, and if the offender stole an exorbitant amount of money.

These circumstances could easily lead to longer sentences and higher fines.

Been Arrested for a White-Collar Crime? 1st Call Bail Bonds can Help

If you or a loved one have been arrested for a white-collar crime in Dallas, you’ll need a bail bond, fast. Reach out to 1st Call Bail Bonds to get out of jail, back at home, and in a comfortable environment where you and your criminal defense lawyers can thoroughly plan your case.

Our Dallas office is open 24/7 and we can help with any bail at any cost.