The consequences of white collar crimes

On Behalf of | Nov 3, 2017 | Firm News, White Collar Crimes

White collar crimes occur more than the average New Yorker might assume. Sometimes, what begins as a harmless financial plan can later turn into an illegal procedure in which all of those involved could face serious penalties. In addition to hefty jail time and costs, these types of crimes can negatively affect a person’s private and professional life. 

New York professionals are often in the spotlight for having carried out monetary offenses. These offenses can range from money laundering to fraud, and typically result in years of jail time. One recent incident in which a popular talk show host was arrested on Ponzi scheme charges has shocked countless fans. However, the case is not black and white, as the host claims he is the victim of the scheme rather than the perpetrator.

Ponzi Scheme Charges

Earlier today, the New York Post shared the ongoing case of Craig Carton, radio host of the “Boomer and Carton” show. Carton allegedly cheated millions of dollars of investors by selling fake concert tickets, with which he later paid off personal debt. Yet Carton claims he is the victim of Joseph Meli, who some claim is one of Carton’s co-conspirators; one of the people Meli ripped off is said to be Carton. Despite Carton’s claims, officials still deem him guilty of working with Meli to defraud investors and use the profits for personal gain.

The Negative Effects

The Federal Bureau of Investigation outlines white collar crimes and the effect they can have on a plethora of businesses, investors and individual families. In the case of Craig Carton, pleading innocent only magnified his crimes of stealing from other professionals. The FBI uses connections of law enforcement and other agencies to accurately track down fraud cases. These cases are especially difficult in that they hurt the parties involved as well as damage the economy.