We have all heard the term “victimless crime”. But when it comes to white collar crime, nothing could be further from the truth. Whether it is Ponzi schemes or insider trading, countless victims of white collar crime have lost their life savings or have found themselves in financial ruin. But what happens to convicted white collar criminals? Many people have misconceptions of these prisons as glorified country clubs that house rich and entitled inmates. But that is simply not the case.
The Misconceptions of White Collar Criminals
When most people think of criminals in Utah, they typically think of violent people who come from low-income areas—not someone who wears a suit and tie or works at Wall Street. It is easy to believe people who commit violent crimes are more of a threat than those who commit white collar crimes. But the truth is white collar criminals are often every bit as dangerous as those who commit violent crimes or sex crimes in Salt Lake City.
When it comes to Utah criminal law, it is important to remove stereotypes. It is easy to label criminals based on race or socioeconomic status. But there is another misconception. White collar criminals are often characterized as first-time offenders who simply had a lapse in judgment who committed a nonviolent offense. But here are the facts about white collar criminals.
- White collar criminals come from a variety of backgrounds.
- White collar crimes are not victimless
- White collar victims do not commit violent crimes
- White collar criminals are not always highly paid
According to recent studies, nearly 40 percent of those convicted of white collar crimes have a previous criminal record. While Ponzi schemers, such as Bernie Madoff and Allen Sanford for wealthy men, many of their underlings were poorly paid. Many white collar criminals are responsible for murders to cover up their crimes.
The Psychology of a White Collar Criminal
What makes a person want to commit a white collar crime? It is a question that is impossible to answer on its own. However, there are some common psychological traits they all share. When profiling potential suspects, the FBI’s Behavioral Science unit has developed psychological profiles for fraud investigators. Many convicted white collar criminals often share the same characteristics as those convicted of violent crimes, including psychopathy, narcissism and antisocial personality disorder.
The Importance of White Collar Criminal Defense
It is also important to understand not every person accused of a white collar crime is guilty. Just one accusation can be extremely damaging to person’s reputation and can jeopardize their professional career. But most importantly, a conviction can result in significant time behind bars. The selection of a criminal defense attorney is critical. Not all are able to handle white collar crime cases. Over the years, the legal team at White & Matern, PLLC have utilized an aggressive and comprehensive approach to protect the rights of each client and to always look after their best interests. It is a philosophy started by founder David Paul White, who was a longtime respected Salt Lake City criminal defense attorney. If you or someone you know is accused of a white collar crime, it is vital to fighting these charges immediately and aggressively as possible. To learn more, contact their Salt Lake City criminal law office today and schedule a free initial consultation to discuss your case.