Posted by on Monday, October 11th, 2010

A white-collar criminal may not have a gun pointed at your face, but the effects of what they do can be just as devastating, or more so. A mugger may get the money in your wallet, but a Best price ://www.nw3c.org/”>white-collar criminal can destroy your company and your life, and take your life savings. White-collar crime is not a victimless crime.

White Collar Crime is Like Looking Down the Barrel of a Gun

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Criminologist Edwin Sutherland coined the term in 1939 as “a crime committed by a person of respectability and high social status in the course of his occupation”.

The FBI defines white-collar crime as “Those illegal acts which are characterized by deceit, concealment, or violation of trust and which are not dependent upon the application or threat of physical force or violence.”

Business and government professionals commit these crimes, and they often get away with it for years because they have garnered respect and earned people’s trust because of their position in society.

It is not a victimless crime. For every action there is a consequence. White-collar crime may not be a violent act in itself, but it can lead to violence, and even murder or suicide, as the repercussions from the act reach out like a ripple effect.

FBI Fighting White-Collar Crime Infographic

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Yesterday,I wrote about the manufacture and sale of Counterfeit Goods. That is a white-collar crime that has a significant impact on our economy. Here are some more “victimless crimes”:

Ponzi Schemes

Two words: Bernie Madoff. Madoff, a former stockbroker, businessman, investment advisor and President of the board of directors for the NASDAQ stock exchange pulled off the largest financial fraud in American history. A Ponzi scheme works by paying returns to investors from their own money, or money paid by new investors. Eventually the whole thing collapses, but one or more people get rich, and usually end up losing that money and spending the rest of their life in prison. Check out the website of the Madoff Recovery Initiative for the latest news on the recovery of Madoff’s theft of approximately $20 billion.

Martha Stewart White Collar Criminal

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Insider Trading

All those women who were inspired to make their own floral centerpieces were shocked to find out that everything Martha Stewart was doing wasn’t “a good thing”. The doyen of homemaking was an amateur compared to the big players, and many people think that the Justice Department made an example of her. Martha was tipped off by an assistant of her broker, Peter Bacanovic that shares in ImClone were going to tank. She sold her shares the day before the bottom fell out. Martha wasn’t charged with insider gambling online
how much is
trading, but she received five months in prison, plus five months of home confinement for lying about the stock sale to federal investigators.

Was this a victimless crime? Who got hurt, other than the people who could no longer watch Martha make a delicious carrot cake on her TV show? Other investors are hurt by the actions of an inside trader. It affects

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our economy, and destroys trust in the system.


Embezzlement

There have been a number of high profile embezzlement cases, such as that of Melissa G. King, who stole over $40 million from the Sandhogs#039; Union Local 147, which represents construction workers who dig water and train tunnels.

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King administered the union’s benefit fund. Definitely not a victimless crime.

Did you know that dental offices are a choice target of embezzlers? In a poll conducted by the The Wealthy Dentist, 59 percent of dentists discovered embezzlement in their practice.

If you suspect that an employee, a trusted financial advisor, or anyone in your personal circle is involved in a crime that could damage you, or others, you need evidence.  A private investigator can advise  you on your next move, before the criminal makes a move that can leave you financially destitute.

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Former FBI Assistant Director Tom Sheer has recruited the best from the FBI, DEA, IRS and Secret Service to build a formidable team at Sheer Investigations. Our private investigators have the sensitivity and experience to handle the most delicate investigations.

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