Fraud is a term that is commonly thrown around to describe a variety of behaviors, not all of them specifically criminal. When it comes to white collar crimes, fraud tends to have a very specific meaning, although it can be applied to a variety of situations. Whether a Texas resident is facing insurance fraud allegations or securities fraud charges, both of these fall under the larger umbrella of white collar crimes.
In general, a crime in which an individual allegedly deceives another individual or entity in order to achieve some type of monetary gain is considered to be fraud. Insurance and mortgage fraud tend to crop up frequently in terms criminal litigation. A company might be accused of either of these types of fraud if authorities believe that it has attempted to defraud its customers by providing false or deceiving information. Conversely, consumers are in no way immune to these allegations. In the past, consumers have been charged for supposedly supplying false information in order to receive payouts on insurance policies.
Securities fraud might be more recognizable to people in Texas as insider trading. While insider trading is just one type of securities fraud, many individuals have made news headlines in recent years after being accused of taking part in this type of fraud. The basis for insider trading is quite simple, and simply indicates that an individual with so-called insider knowledge about a company uses that information to trade investments and stock options. This practice is considered to be a violation of a person’s duty.
Accusations of white collar crimes can be devastating to a person’s personal and professional reputation, and one may be concerned about the possible criminal consequences when facing charges of insurance or securities fraud. No matter where a person’s primary concern lies, one of the best options to prepare is for defendants to conduct a thorough review of all charges and related evidence. When performed alongside their respective counsel, most defendants can determine which defense approach is best suited for achieving the most favorable outcome possible for their situation.
Source: FindLaw, “White Collar Crime“, Accessed on March 8, 2016