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Where Is the Line Between Acute Business Sense and White-Collar Crime?

Business acumen

Part of the mystique of entrepreneurship is being able to keep so much money moving in so many directions at the same time that no one is sure how much of it belongs to you and how much you owe in taxes.  How much of it is legal, though?  For every serial entrepreneur who walks into bankruptcy court looking like a million bucks, there is one who triggers a federal investigation by paying cash for a real estate property where he can enjoy some quiet time with his family and his horses.  People get away with fudging the truth a lot of the time in business, but telling too many lies about your personal or business assets can get you charged with a crime.  The best way to avoid the worst consequences, such as prison sentences and being ordered to forfeit most of your wealth, contact a white collar crimes lawyer if your financial dealings are under investigation.

Shady Business Dealings That Are Really Financial Crimes

You might think that you are doing especially well as the parts of doing business that involve talking a big game and spending the money you wish you had instead of the money you had, but if law enforcement agencies were to investigate your business practices, they might find enough evidence to persuade a grand jury to charge you with a felony financial crime.  These are some common financial crimes that can result from people getting too overconfident with shady business practices:

·   ​Money laundering – You can get charged with money laundering if you lie about sources of your income.  The textbook example of money laundering is when a defendant makes money from something illegal, like selling heroin, but falsifies the accounts of a legitimate business, such as a restaurant, to make it look like all that cash came from customers buying food.  Recently enacted laws require extensive documentation when you buy a real estate property in cash, so you can prove that the purchase is not an act of money laundering.

·   ​Bribery – Business deals are only possible when all parties to the agreement get some benefit, but giving or receiving financial incentives is the crime of bribery when, in order to get the money, someone must conceal incriminating information or break the rules of fair business competition.

·   ​Offshore banking violations –Owning bank accounts in more than one country is legal, but you must report them truthfully on your tax returns, or else you could be charged with tax evasion.

If you are being accused of any of these financial crimes, the sooner you contact a lawyer, the sooner you can stop the situation from getting worse.

Contact the Law Office of Patrick J. McLain, PLLC About Your Court Martial

A criminal defense lawyer can help you if you are being charged with a financial crime such as money laundering or embezzlement. Contact the Law Office of Patrick J. McLain, PLLC in Dallas, Texas to discuss your case.

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