An assortment of different actions might constitute white-collar crimes. Embezzlement and multiple different types of fraud violate both state and federal statutes. Depending on the scope of the alleged criminal activity, an individual accused of a white-collar offense could face either state or federal charges.
The possible penalties imposed for a conviction depend on the nature of the offense and the amount of resources involved. Judges have the authority to sentence someone to incarceration or probation. The possible penalties usually also include financial consequences.
What economic penalties do the courts often assess against those accused of a white-collar offense?
Fines and court costs
Whether someone pleads guilty or takes the matter to trial, their time in court usually creates expenses. The courts can declare that a defendant must cover court costs after a conviction or guilty plea. A judge can also sentence someone to pay a fine based on the type of offense and the statutes that apply. Those fines can be a significant setback for someone who may also need to serve a sentence in state facilities or who may have lost their job because of the accusations they face.
An Order of Restitution
Both the federal and Connecticut state criminal courts can order someone accused of a financial crime to pay restitution to the parties affected. The amount of restitution usually reflects the specific financial consequences that the victim suffered because of the criminal activity. The payment of restitution may be necessary in addition to the courts intercepting or seizing any assets obtained through criminal activity. In fact, in federal cases, the government may even help those alleging losses due to criminal activity pursue civil litigation against a defendant. The Financial Litigation Unit can help enforce Orders of Restitution for the first 20 years after a judge enters the order.
Someone convicted of a white-collar criminal offense may also lose their job if they plead guilty and could have a hard time resuming their career even after they serve their sentence. The financial implications of a guilty plea or conviction can be far beyond what someone anticipates at the time of their indictment or arrest. Mounting a thorough defense against allegations of financial crimes may be the only way to avoid the economic penalties often assessed by the courts.