In 2023, the federal government filed 4,332 prosecutions for white-collar crimes. A white-collar crime is a non-violent offense that involves fraud or deceit for financial or personal gain. Politicians and businessmen have historically committed it, though successful people in any field may be perpetrators. Although white-collar crimes compose a small portion of federal prosecutions, harsh penalties are imposed if you are convicted. A conviction in state court also carries significant punishments, including jail time, fines, and asset forfeiture.
Given that white-collar crime allegations threaten your reputation and financial future, these charges cannot be ignored. At Eppes & Plumblee, we understand the anxiety that comes with these accusations. In this blog, our criminal defense attorneys in Greenville, SC, discuss the white-collar offenses of tax evasion, mortgage fraud, and embezzlement to keep you informed of potential legal repercussions.
Tax Evasion
The misrepresentation of financial information with the intent of underpaying taxes owed to the government is known as tax evasion. In South Carolina, tax evasion is a felony, punishable by up to $10,000 in fines, up to 5 years in prison, and the costs of prosecution. A federal conviction may result in a $100,000 fine or 5 years in jail, in addition to the costs of prosecution.
Mortgage Fraud
Misrepresenting financial information to mislead a lender is known as mortgage fraud. Buyers may commit mortgage fraud through a variety of ways, including misrepresenting employment or income, skewing a home’s appraisal value to secure a more favorable mortgage, or misrepresenting how they intend to use the property.
Mortgage fraud is prevalent in South Carolina, with most cases being prosecuted under federal law. A guilty verdict is subject to 30 years in federal prison and a maximum fine of $1 million, with organizations facing a potential $5 million fine. The severity and specifics of the offense will determine if both a fine and jail time are imposed.
Embezzlement
The misappropriation of funds or property by a person in a position of trust is considered embezzlement. SC Code §16-13-210 stipulates that if the alleged embezzled funds total more than $10,000, then you may be subject to ten years in jail with a fine that equals the embezzled funds. If the alleged misappropriated funds are less than $10,000, you may be subject to 5 years in prison and a fine equal to the embezzled funds. A conviction in federal court carries a potential ten-year sentence and fine, though the sentence is reduced to one year if the amount involved is $1,000 or less.
Criminal Defense Attorneys That Specialize in White-Collar Crimes
If you have been accused of committing a white-collar crime, you need an attorney who has experience with such matters. Evidence to establish your lack of liability or that you played a minor role in the offense can significantly help to reduce your potential punishment. At Eppes & Plumblee, our Greenville white-collar criminal defense attorneys are committed to pursuing every avenue to help our clients achieve the best possible outcome. If you are interested in learning more about our process, our legal team is only a phone call or click away.
Speak with a Greenville, SC, Criminal Defense Lawyer Today
If you are currently under investigation for a white-collar crime, you need experienced counsel by your side. White-collar crimes carry significant penalties, and a single charge alone can tarnish your good name. At Eppes & Plumblee, our legal team has provided trustworthy legal representation to the residents of Greenville and the surrounding area for over 25 years. If you are interested in scheduling a confidential consultation with one of our Greenville criminal defense attorneys, our office can be reached online or by calling (864) 581-3450 today.