What is White Collar Crime in Plano, Texas?

A white collar crime in Plano City is a non-violent economic crime by a corporate employee. These crimes are usually committed by individuals working in offices, within a corporate environment. White collar crimes in Plano are different from street crimes because of the lack of violence in these crimes and their strict financial nature. Also, persons who commit white collar crimes usually use their corporate positions to commit the crime. Some white collar crimes in Plano City include:

• Tax evasion. This crime occurs when a person does not pay the taxes they are liable for. It may be because the person has not paid any tax or paid less than required. 
• Corporate fraud. Corporate fraud involves misrepresentations about a company’s financial situation. This is usually done to encourage or satisfy shareholders. 
• Embezzlement. This involves criminally misappropriating funds. The perpetrator usually receives money lawfully and then uses the money for a purpose different from what it was intended. Most times, the perpetrator will use official funds for their gain.
• Money laundering. Money laundering occurs in Plano City when a person knowingly handles criminal money, supervises the transactions of criminal money, or invests criminal money into an enterprise. This is usually an attempt to hide the proceeds of a criminal activity through a legitimate business. Financial institutions within the City have an obligation to report suspicious transactions. Plano City money laundering laws apply to any money earned while a person was engaged in a felony.
• Healthcare fraud. This crime involves any attempt to fraudulently obtain money or property from a healthcare benefits scheme. For example, doctors who submit false claims to an insurance company regarding the number of patients they attend to may be guilty of the crime.

The Federal Bureau of Investigation maintains crime statistics for Plano City. In 2020, the bureau recorded:

• Zero cases of bribery.
• 1,993 fraud cases.
• 421 cases of false pretense.
• 51 embezzlement cases.
• 435 credit frauds.
• 23 impersonations.
• One welfare fraud.
• 284 wire frauds.
• 783 identity thefts.

What are White Collar Crime Punishments in Plano City?

White collar crimes in Plano City are often punished severely. A white collar crime defendant may face prosecution from both the Texas State Government and the United States Federal Government. Potential punishments include imprisonment, forfeiture of assets, community service, fines, and probation. The specific penalty for a white collar crime largely depends on the circumstances and around the crime.  Courts may also consider the victims of the offense, the value of the property taken, and the defendant’s criminal history record in sentencing the defendant. However, the maximum penalty is life imprisonment, unlike violent crimes in which the maximum penalty is the death penalty.

Tax Evasion

The Texas Tax Code regulates taxation in Plano City and imposes sanctions for violation of the law. Penalties for tax evasion in Plano City include:

• Imprisonment for not more than a year and a fine of not more than $4,000 if the amount is less than $1,500.
• Up to life imprisonment and up to $10,000 in fines if the amount is more than $1,500.

Embezzlement

The punishment for embezzlement in Plano City depends on the amount. Penalties include:

• A Class C misdemeanor, if $100 or less was embezzled. This is punishable by a fine of not more than $500.
• A Class B misdemeanor, if the embezzled amount is between $100 and $750. The offense may be punishable by imprisonment for up to 180 days and a fine of not more than $2,000.
• A Class A misdemeanor if the embezzled amount is between $750 and $2,500. This is punishable with imprisonment for up to one year and up to $4,000 in fines.
• A state jail felony if the amount is between $2,500 and $30,000, punishable by imprisonment for six months to two years and up to $10,000 in fines.
• A third-degree felony if the amount is between $30,000 and $150,000, punishable by imprisonment for two to ten years and up to $10,000 in fines.
• A second-degree felony if the amount is between $150,000 and $300,000, punishable by imprisonment for two to twenty years and up to $10,000 in fines.
• A first-degree felony if the amount exceeds $300,000, punishable by imprisonment for five to 99 years and fines up to $10,000.

Money Laundering

Chapter 34 of the Texas Penal Code regulates money laundering in Plano City. Similar to other white collar crimes, the amount of money laundered may determine the penalty. Under federal law, the penalty for money laundering may include imprisonment for up to 20 years and fines up to $500,000. Under Texas State law, penalties include:

• Laundering between $2,500 and $30,000 is a state jail felony, punishable by imprisonment between six months and two years and up to $10,000 in fines.
• Laundering between $30,000 and $150,000 is a third-degree felony in Plano City, punishable by imprisonment for two to ten years and up to $10,000 in fines.
• Laundering between $150,000 and $300,000 is a second-degree felony, punishable by imprisonment for two to 20 years and fines up to $10,000.
• Laundering any amount exceeding $300,000 is a first-degree felony, punishable by five to 99 years imprisonment and up to $10,000 in fines.

Insurance Fraud

Chapter 35 of the Texas Penal Code makes insurance fraud a crime. The penalty for insurance fraud depends on the insurance value that is the subject of the crime.

• Insurance worth between $2,500 and $30,000 is a state jail felony, punishable by imprisonment between six months and two years and up to $10,000 in fines.
• Insurance worth between $30,000 and $150,000 is a third-degree felony in Plano City, punishable by imprisonment for two to ten years and up to $10,000 in fines.
• Insurance worth between $150,000 and $300,000 is a second-degree felony, punishable by imprisonment for two to 20 years and fines up to $10,000.
• Insurance worth any amount exceeding $300,000 is a first-degree felony, punishable by five to 99 years imprisonment and up to $10,000 in fines.
• If the insurance value is worth less than $2,500, it will be treated as a misdemeanor with imprisonment for up to a year and up to $4,000 in fines.

Wire Fraud

Wire fraud in Plano City is a federal crime, criminalized under 18 USC 1343. The crime is punishable by fines and up to 20 years imprisonment. If the wire fraud results in a major disaster or emergency or affects a financial institution, it is punishable by up to $1,000,000 in fines and 30 years imprisonment.

What does a White Collar Crime Lawyer do in Plano City?

A white collar crime lawyer in Plano City helps defendants obtain the best possible outcome by handling the entire court case process. This involves everything even before the trial begins, as the defendant may initially be invited to comment during the investigation of a crime. Having a lawyer in Plano during this investigation process can help a defendant avoid self-incrimination and ensure they understand the full extent of their rights. 

The circumstances around the case will determine the kind of defense that should be used. However, some defenses include:

• Incapacity. The lawyer may show that the defendant could not commit the alleged crime. This incapacity to commit the crime may be physical or mental. If it is physical, then the attorney may show that the employee was not in the position to commit the crime. Mental incapacity involves situations in which the defendant did not understand or comprehend the criminal nature of their actions.
• Lack of intent. The prosecution usually needs to show that the defendant intended to commit the crime. If the prosecution cannot prove this beyond a reasonable doubt, the defendant may be acquitted. A white collar crime lawyer in Plano City can help a defendant escape conviction by showing they lacked the necessary intent.
• Lack of fraud. If the crime being alleged has fraud as its element, a lawyer can show that the conduct or statement was not fraudulent. The lawyer must show no misrepresentation on the defendant’s part.
• Entrapment. A lawyer can use this to show that the defendant would not have committed the crime without the law enforcement officer's inducement. This is usually the case if a sting operation set up to obtain evidence induces the defendant into committing a crime.
• Intoxication. If the defendant lacked control over their actions due to intoxication, this may be a full defense or used to bargain a lighter sentence.

Beyond defenses, a lawyer can also help a defendant obtain a lighter sentence through a plea bargain. This is when there is substantial evidence against the defendant, and the defendant has little prospects at trial.

What is the FCPA in Plano City?

The Foreign Corrupt Practices Act (FCPA) of 1977 in Plano City is a federal legislation that prohibits any person in the United States from paying foreign government officials for business benefits. Actions criminalized by the FCPA include offers, payments, authorizations, and promises to give money or anything of value, knowing that it may influence a foreign official’s conduct. This law applies to companies with securities listed in the United States of America. These companies, under the law, need to maintain proper records of transactions and an adequate system of internal accounting controls.

The Securities and Exchange Commission (SEC) and the Department of Justice enforce the FCPA. Companies regulated by the SEC are subject to its control regarding the Act’s enforcement, while all other domestic companies are subject to the Department of Justice. In 2012, the Department of Justice and the SEC provided a joint guide to the FCPA, which can be used to better comply with the Act. The SEC also maintains a list of enforcement cases from 1978 to the present.

How to Find a White Collar Crime Lawyer in Plano City

Individuals can find a white collar crime lawyer in Plano City through family, friends, and associates referrals. There are also lawyer directories that interested persons can use. The Texas State Bar allows users to search for lawyers based on the location, case subject, and other parameters.

The appropriate lawyer should have substantial experience defending people in similar positions.

Finally, payments for a lawyer’s services may be at a flat or hourly rate. However, regardless of the payment structure, most white collar crime attorneys will grant an initial consultation service at no fee.