Types of White Collar Crimes
A white-collar crime bond would be needed by somebody arrested for a white-collar crime, a nonviolent crime. A non-violent crime is characterized by concealing or deceiving other persons or a business in matters to benefit,
- Corporate Fraud
- Embezzlement
- Money Laundering
- Securities Fraud
- Wire fraud
- Bankruptcy fraud
- Forgery
- Counterfeiting
- Bribery
- Money Laundering
- ID Theft
White-collar crime is an umbrella term for non-violent crimes, typically committed by a professional, a public official, or anyone that can have financial gain by committing the crime.
What is a White Collar Crime Bond?
The white-collar crime bond is a guarantee paid by a family member, friend, employer, lawyer, or the accused that guarantees they will comply with the laws, regulations, and terms that are set forth by the arraigning judge. It is a financial bond that guarantees the accused will appear before the court as ordered.
How does a White Collar Crime Bond work?
Like the blue-collar crime type of bail bond, a white-collar crime bond is posted by the accused so they can be released from jail until their court date. If a person violates any of the laws, regulations, and terms set forth by the judge, the white-collar crime bond will be revoked and the accused will be returned to jail.
Who is required to obtain a White Collar Crime Bond?
White-collar crime bonds are posted for people who are typically arrested for financial-based crimes. These crimes are committed by people with a high level of socioeconomic status, or in a position with access to the finances of a company or organization. This includes people in the following positions:
- Bankers
- Money Managers
- Government Officials
- Accountants
- Computer Specialists
Who is responsible for obtaining the White Collar Crime Bond?
The accused can post their white-collar crime bond if they have access at the time to the funds. Since an arrest is usually unexpected, just like a blue-collar crime arrest, the accused will need to use their one phone call to contact a family member, a friend, or their lawyer. That person will in turn contact a bail bondsman and apply for a white-collar crime bond.
How much does a White Collar Crime Bond cost?
The cost of a White Collar Crime Bond is typically 10% of the bond set by the arraigning judge. Judges are provided a guideline for what they can set the bond at based on the type of white-collar crime committed. The judge will take additional consideration of the accused criminal history, employment status, the evidence supporting the arrest, and standing in the community.
How long does a White Collar Crime Bond last?
White Collar Crime Bonds are good until the accused’s assigned court date or if they break any of the laws or the regulations and terms set by the arraigning judge. Typically a white-collar crime bond will expire 5 years from the date it is obtained. There are white-collar crime bonds that have an extended expiration, such as capital offenses, but the white-collar crime bond doesn’t expire. Other white-collar crime bonds expire as follows:
- Fraud against a financial institution: White collar crime bond expires in ten years.
- Other bank-related crimes: White collar crime bond expires in 10 years.
- Immigration violation: White collar crime bond expires in 10 years.
- Major fraud against the United States: White collar crime bond expires in 7 years.
- Securities fraud: White collar crime bond expires in 6 years.
- Tax offenses: White collar crime bond expires in 3 years to 6 years with a possible 9 months added for formal proceedings to be prepared.
What are the risks associated with a White Collar Crime Bond?
While white-collar crimes don’t cause physical pain initially, they impact the economy which can cause employee endangerment by making working conditions unsafe. White-collar crimes can cause injury to consumers from dangerous products or services, and they can cause pollution. These are just some examples of the ramifications of the crimes that cause the need for white-collar crime bonds.
A white-collar crime can cause a business to shut down, then there is a loss of jobs for the employees, and the vendors that sell to these companies lose out on being paid for past business and loss of future business. That can have a ripple effect that causes those vendor companies to have to lay off staff or even go out of business, and the ripple effect continues onward.
To Conclude
Whether a person is arrested for a blue-collar crime or a white-collar crime, bonds are the first step in possibly being released from jail until their court date. Even a person accused of a white-collar crime, the person may be denied a white-collar crime bond if the court feels the person is a flight risk. If you would like help with a white-collar crime bond in Austin, TX, you can give us a call at 512.834.2245.