South Carolina White Collar Crime: Accounting Fraud
The FBI has defined White Collar Crime as an economic crime. Many definitions of white collar crime include the characteristics of the defendant as being wealthy to the crime being one of deceit. This typically is embezzlement, bank fraud, or what most consider economic crime. The Enron case was the typical example of white collar crime; very wealthy defendants charged with fraud. This accounting fraud has become a new breed of indictment in recent years. South Carolina has rarely used this as a basis for an indictment. Many South Carolina white collar crimes are related to bank fraud, wire fraud and recently mortgage fraud. Many lawyers in South Carolina have not had to defend clients for white collar crime. In Miami, white collar crime is a popular indictment. Sophisticated transactions can be mistaken for fraudulent actions if viewed in the wrong light. A good criminal defense lawyer will know how to represent a white collar defendant in the best possible way.
South Carolina has one of the lowest percentage of white collar crime indictments in the country. This will change as South Carolina continues to grow. The recent explosion of development in Myrtle Beach, Charleston and Greenville will create an environment for the expansion of the investigations by the United States Attorney for South Carolina. This expansion will included white collar crimes investigations. As mentioned in earlier discussions, mortgage fraud will be a white collar crime ripe for indictments.
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