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New York White-Collar Crimes and Penalties 2024

New York White-Collar Crimes and Penalties 2024

If you have been accused of committing a white-collar crime in New York, then you are likely feeling overwhelmed and unsure about what steps to take next. White-collar crime charges are extremely serious and can have long-lasting effects on a person’s life if they are convicted. Therefore, it is critical to work with an experienced New York white-collar crimes lawyer to understand your charges and the penalties that you are facing in 2023.

What Is New York City White-Collar Crime?

In New York City, white-collar crimes are a frequent occurrence due to the large amount of financial activity occurring on Wall Street. Such crimes are financially motivated and non-violent and can be carried out by professionals, organizations, or individual people.

Such crimes are typically prosecuted federally if they involve the crossing of state lines or defrauding the U.S. government. However, if they are involved in fraud within the state of New York only, then they will be charged on the state level. Being convicted of a white-collar crime can lead to severe penalties.

New York White-Collar Crimes and Penalties

Common NYC White-Collar Crimes

Many individuals or even professionals may not be aware that they have committed a crime until they are charged due to the complexity of the law in this area. Some common NYC white-collar crimes include the following:

  • Fraud. This can include criminal tax fraud, credit card fraud, insurance fraud, or mortgage fraud.
  • Forgery. This crime involves imitating or tampering with existing documents in order to use them for financial gain and is often charged in tandem with criminal possession of a forged instrument.
  • Falsifying business records. Individuals may falsify business records to make it appear as though their business or organization is performing well or to cover up illegal activity.
  • Tampering with public records. People and professionals may tamper with public records to cover up illegal activity, such as fraud or bribery within the government.
  • Identity Theft. Identity theft can take many forms and can include a person taking on the identity of another individual in order to commit fraud.
  • Bribery. Bribery can happen within the government or organizations and involves offering money or services in exchange for unlawful preferential treatment.
  • Embezzlement. Embezzlement involves moving funds through certain organizations or individuals so that the paper trail cannot be traced.

It’s important to note that in most white-collar crimes, there is an “element of intent” that must be proven. This means that if the prosecution cannot prove that you unequivocally had the motive to carry out the crime, then you cannot be convicted.

Understanding the Penalties: NYC White-Collar Crimes

Depending on the severity of the charges for the white-collar crime, the associated penalties can vary. Because multiple crimes are charged together, more often than not, the penalties for a case are determined on a case-by-case basis.

Some white-collar crimes can be classified as Class B misdemeanors and entail lesser sentencing, such as a maximum of three months in jail. However, other crimes can be much more severe, such as criminal possession of a forged instrument and forgery in the first degree. These are charged as Class C felonies. If convicted of a Class C felony, an individual can expect to serve up to 15 years in prison and pay up to $5,000 in fines.

Other examples of white-collar crime penalties include those of Class D felonies. Crimes that are typically classified as Class D include first-degree identity theft. If convicted, the defendant could spend a maximum of seven years in prison and pay up to $5,000 in fines. First-degree defrauding or falsifying business records is considered to be a Class E felony. This can lead to a maximum of four years in prison and up to $5,000 in fines.


Q: What Is the Maximum Fine I Can Get for a NYC White-Collar Crime?

A: In New York City, the fines and penalties can be steep for white-collar crimes. Sometimes, depending on the case, individuals may have to pay up to double the amount that they gained from carrying out the crime, as opposed to paying the maximum penalty amount. The highest fines are $5 million for individuals, and the amount can be even greater for organizations. This does not include restitution payments.

Q: How Can a White-Collar Crime Case Impact My Reputation?

A: In addition to potentially serving time in jail or prison and paying large sums of money in fines, being convicted of a white-collar crime can have a lasting impact on your reputation and future. For example, it can be difficult to be hired again for a job, and your reputation could have consequences on your social life as well. Therefore, it is critical to work with a criminal defense lawyer to clear your name as soon as possible.

Q: What Is the Maximum Time I Can Spend in Prison for a NYC White-Collar Crime?

A: In New York City, the amount of time that you will be sentenced to jail or prison depends on the details of your case, including whether it was prosecuted on the state or federal level and the nature of your previous criminal record. Therefore, you can expect to spend anywhere from a few months to up to 30 years in prison for a white-collar crime.

Q: What Is Securities Fraud in New York City?

A: Many professionals working on Wall Street in New York City often face securities fraud charges. Such charges involve giving false information to beneficiaries or investors or manipulating data or information in the stock market. Insider trading is considered to be a type of securities fraud. If you have been charged with NYC securities fraud, it’s important to work with an experienced criminal defense lawyer who can help you defend your rights and reputation.

Build Up a Strong White Collar Criminal Defense Strategy

White-collar criminal defense strategies can be built up based on the details of the crime, including the type of charges, the individuals and organizations involved, and the evidence at hand. Such defense strategies may entail the defense of entrapment, failure to meet the statute of limitations, and unlawful search and seizure.

If you have been charged with a white-collar crime, a dedicated white-collar crime lawyer from the Law Offices of Robert Tsigler, PLLC, can help you strategize and implement your defense. Reach out today to get started.

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