What Are The Punishments For Being Convicted Of A White-Collar Crime?
Though many people think that white collar crime is somehow less egregious than other types of legal violations, the criminal justice system doesn’t necessarily see it that way — in fact, the penalties faced by perpetrators of white collar crime can be even greater, as it is highly possible that those accused of these crimes will face both criminal prosecution by the authorities and civil litigation filed by federal or state government, by individuals, or both. That is why it is so important that those who are accused only entrust their legal representation to experienced white-collar criminal defense attorneys.
Those convicted of violations involving white collar crime generally face monetary penalties, a prison sentence, or both. Prison terms are governed by sentencing guidelines that have specific maximum periods of time, but judges in these cases have wide latitude as to the length of time that they impose. Judges take several different factors into consideration when determining what is appropriate for an individual defendant who has been found guilty: these factors may include whether they have a previous record, the nature of their crimes, victims’ statements, and more. There is a generally accepted image of white-collar crime prisoners spending time in “country club” jails: though most are imprisoned in minimum security institutions, the quality of life in each of these facilities varies greatly, and there are no guarantees of easy time. One way or another, time in jail is time away from your family and the life to which you have grown accustomed.
In addition to the penalties imposed by the criminal justice system, those who have been accused of white-collar crimes also face the possibility of civil litigation seeking compensation for damages or for any profits that may have been gained through their criminal activities. This can include asset forfeiture.
Being convicted of white-collar crime also carries an additional cost — the loss of reputation and standing in the community. The social stigma that accompanies a conviction can lead to loss of family, loss of friends, and even the loss of potential earnings or employment in the future, especially for those who lose their professional licensure or certification.
If you are facing an accusation of having committed white collar crime, it is essential that you have a robust white-collar criminal defense attorney working on your behalf. To learn more about our successful record and how we can help, contact us today.