Of the various types of white collar crime committed in the Texas every year, many fall under fraud. The law classifies quite a number of them as a felony. Hence, they come with severe punishment, including hefty fines and imprisonment.
For this reason, it’s important you seek legal help from a Houston white collar lawyer, as you want to make sure you have the best defense to prove your innocence.
Depending on the circumstances surrounding the incident, tax fraud can either fall under federal or state offense. This can come in several different forms, from non-payment of taxes to failure to file a return. It can also occur when someone takes unauthorized deductions or don’t report other sources of income.
Regardless of how a person commits tax fraud though, if the law finds him/her guilty, it will result in severe fines and penalties in addition to the original tax bill. Add to this the possibility of the Internal Revenue Service (IRS) garnishing wages or seizing property, and the punishment can quickly rack up.
Credit Card Fraud
Also known as credit card abuse, this type of fraud takes place when someone uses another person’s card without permission. The Texas Penal Code considers this as a felony, and those found guilty can face up to a decade of imprisonment.
People who file for an insurance claim for a non-occurring event can face an insurance fraud charge. The same thing can happen to those who knowingly indicate an amount of damage that exceeds the actual losses. This felony can occur with almost all types of insurance policy, and those found guilty can face extended prison time.
Although the prevalence of white collar crime in the Lone Star State continue to decline, hundreds of its people still get involved in such cases every year, either as the accused or the victim. And while some of those charged have indeed committed these crimes, some of them are wrongly accused.