White-collar crimes are criminal offenses committed by businessmen and politicians. Most white-collar crimes are motivated by greed, relying on deceit or a breach of trust for financial gain. While no actual blood is shed, the crimes are prosecuted seriously under South Carolina law. If you are found guilty, you can potentially expect to be faced with lengthy jail time, steep fines, and be forced to forfeit your assets. Our criminal defense lawyers in Greenville, SC, understand common white-collar crimes and penalties under South Carolina law and can help protect your future.
Imprisonment for White-Collar Crime
The length of imprisonment for a white-collar crime is primarily based on the type of crime, whether you have any prior offenses, and the amount of money involved. For example, identity theft (referred to as “financial identity fraud” under South Carolina law) is considered to be misappropriating financial resources for your own personal gain or obtaining money through fraudulent purposes. A conviction under state law could result in a ten-year sentence. Additionally, it is at the court’s discretion whether the offender will be ordered to pay restitution to the victim.
Healthcare Fraud Schemes
Healthcare fraud is the act of deceiving an insurance company to receive fraudulent benefits. A physician or a recipient can commit healthcare fraud. Typical schemes of provider fraud include billing for services not rendered, billing for services in multiple codes that would be covered under a single code (unbundling), and billing for services at a higher level of complexity than provided (upcoding).
As a recipient, you may be guilty of healthcare fraud if you share your insurance card with someone else so they can obtain services, if you alter or duplicate your card, or if you agree to tests that you do not need (collusion). Under South Carolina law, you may be imprisoned for up to three years if found guilty.
Money laundering is the act of making illegally earned funds appear legitimate. Under the South Carolina Anti-Money Laundering Act, the following penalties may be imposed:
- If the amount of funds involved is between $300 and $20,000, you may be sentenced to up to five years in jail.
- If the amount of funds involved is between $20,000 and $100,000, you may be sentenced to up to ten years in jail.
- If the amount of laundered funds is over $100,000, you may be sentenced to a maximum of 20 years in jail.
Potential Fines
South Carolina imposes steep fines for white-collar crimes, based on the type of offense and whether you have any priors. If an exact amount is not specified (as in the case of financial identity fraud), then statutory law will stipulate that fines are subject to the court’s discretion. Healthcare fraud carries a potential fine of $1,000. Still, additional civil penalties of $2,000 may be imposed, and the Attorney General may levy a fine equal to three times the amount of illegal benefits secured.
Even though these fines can certainly add up, money laundering fines are often more severe. For a first-time money laundering offense, fines may be twice the amount of laundered funds, or $250,000 (whichever is greater). For a second offense, fines may be $500,000, or five times the amount of laundered funds (whichever is greater).
Asset Forfeiture
Even before charges are filed against you, the government has the right to seize any property that has a connection to criminal activity. This can include bank accounts, firearms, your vehicle, and even your home. Under state law, the circuit solicitor (similar to a district attorney in other states) must initiate civil forfeiture proceedings within 90 days of the seizure. During the criminal trial for this or any related offense, the court has the right to pause these proceedings until a verdict is reached.
Professional Consequences
Individuals charged with white-collar crimes often find it difficult to obtain employment. That’s because employers typically run background checks on potential candidates, and any arrests or charges are bound to show up. Unfortunately, South Carolina law does not protect former convicts when they apply for jobs. This means an employer may ask about your criminal history on your job application.
While job opportunities may be limited, it may also be difficult to renew or obtain professional licensure. However, recent legislation, the Earn and Learn Act (signed into law in May 2023), prevents licensing boards from denying a candidate licensure solely because of their criminal history. If you believe that you were dismissed from professional licensure based on your criminal history, you need a criminal defense attorney to represent your interests.
Personal Costs
In addition to the consequences mentioned above, you may also experience a rift between family and friends. If you have been charged with a white-collar crime, your reputation will undoubtedly be affected, making it difficult to remain an active part of your community. This impact can lead to social isolation and even depression/anxiety, which is only exacerbated by financial and legal repercussions.
Federal Consequences of a White-Collar Crime
In some circumstances, federal charges may apply if the alleged criminal activity involved interstate commerce, a federal agency, or a large amount of money. Federal charges are likely to be used when a financial institution is involved, since most banks are regulated and funded by the Federal Reserve or another federal agency.
At Eppes & Plumblee, our Greenville criminal defense lawyers have been admitted to the U.S. District Court. Each has a thorough understanding of federal statutes, including the applicable penalties and the procedures that must be followed. No matter the charges that you are facing, our legal team is here to provide you with aggressive representation.
Speak with Our Greenville Criminal Defense Lawyers Today
If you have been arrested or charged for a white-collar offense, you may have no idea what to do. You may worry that a jury will find you guilty before you even present your side of the story. If you are currently under investigation for a white-collar crime, our Greenville, SC, criminal defense attorneys are available to protect your rights. To learn more or to arrange your free consultation, contact us online or by phone at (864) 581-3450.