Have you been charged with a White-Collar Crime?
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Good Faith, Use of Position and Use of Information as Criminal Offence
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Financial Assistance by a Company for Acquiring Shares in the Company or a Holding Company
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Failing to Keep Proper Records
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Failing to Keep Additional Records for Taxation
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Inclusion of False or Misleading Information in Records
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Failing to Provide Access to Records
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Form of Record
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Giving False or Misleading Information to Tax Officers
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Deliberately Omitting Information
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Falsifying or Concealing Identity
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Tax Evasion
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Contaminating Goods with Intent to Cause, or Being Reckless as to Whether it would Cause, Public Alarm or Economic Loss
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Destruction of Evidence
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Corporate Criminal Responsibility, section 255
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False Accounting
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Falsification of Documents
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Suppression of Documents
What is White Collar Crime?
White collar crime refers to non-violent offences committed primarily for financial gain, often involving deceit, breach of trust, or dishonesty. These offences frequently occur in professional environments and are governed by various legislation, such as the Corporations Act 2001, the Crimes Act 1958, and the Taxation Administration Act 1997. Examples include false accounting, insider trading, document falsification, and tax-related offences.
Before deciding to plead guilty or not guilty:
To determine whether you have been accused or charged with a white-collar crime offence, consider:
- Were all elements of the offence proven beyond reasonable doubt?
- Was there an act of dishonesty or recklessness?
- Were proper procedures followed by investigators, such as evidence collection and authorisation?
What are the penalties for white-collar crime?
White collar crime offences are treated seriously, with penalties varying based on the offence and its severity.
Potential penalties include:
- Fines: Ranging from 100 to 20,000 penalty units, depending on the nature of the offence and whether a body corporate or individual is charged.
- Imprisonment: Maximum sentences range from 12 months to 15 years for the most severe offences (e.g., insider trading).
- Civil Penalties: In some cases, civil penalties may also apply, especially under corporate legislation.
- Professional Disqualification: Offenders may be disqualified from serving as company officers or holding similar roles.
- Community Correction Orders: Applied in cases where imprisonment or heavy fines are not deemed necessary.
Where will my case be heard?
These matters may be heard in the Magistrates Court, County Court, or higher jurisdictions.
Recent Case examples:
Recent examples highlight the variety of outcomes for white collar crime cases:
- A company director failed to retain accessible records for tax purposes, resulting in a financial fine under s 53 of the Taxation Administration Act.
- A financial executive was convicted of insider trading after acting on non-public information, leading to a prison sentence.
- An accountant falsified financial records to inflate company earnings, receiving a disqualification order and a significant fine.
What are some defences to consider?
Common defences to white collar crime charges include:
- Factual Disputes/Mistaken Identity: The accused was not responsible for the offence.
- Honest and Reasonable Mistake: Actions were taken in good faith without intent to commit a crime.
- Absence of Dishonesty: The act was not committed with deceit or fraudulent intent.
- Procedural Errors: Errors in the investigative or prosecutorial process that render the charges invalid.
Given the gravity of this offence, it is important to seek legal advice as soon as possible, so that a lawyer from MK Law can tailor a defence specifically to your circumstances.
Considerations When Sentencing:
Courts take various factors into account when determining penalties, including:
- The gravity and impact of the offence.
- Whether the offence involved premeditation or was opportunistic.
- The accused’s criminal history, personal circumstances, and cooperation with authorities.
- Mitigating factors, such as expressions of remorse or efforts to remedy the harm caused.
Examples of White-Collar Crime Offences:
Denying Accessibility of Records for Taxation Department (s 53, Taxation Administration Act):
- Failing to provide access to required records, whether through accidental destruction or deliberate withholding.
Failing to Comply with s 260A (s 260D, Corporations Act):
- Providing unauthorised financial assistance to a person acquiring company shares, potentially prejudicing shareholders or creditors.
Deliberately Omitting Taxation Information (s 58, Taxation Administration Act):
- Knowingly omitting material information from statements to taxation officers.
Contaminating Goods to Cause Public Alarm or Economic Loss (s 249, Crimes Act):
- Intentionally contaminating goods to provoke public alarm or economic consequences.
Destruction of Evidence (s 254, Crimes Act):
- Destroying or concealing documents to render them unavailable in legal proceedings.
Giving False or Misleading Information (s 57, Taxation Administration Act; s 137.1, Criminal Code Act):
- Providing false or misleading information to Commonwealth entities or taxation officers.
False Accounting (s 83, Crimes Act):
- Dishonestly altering or falsifying financial documents for personal or professional gain.
Falsification of Documents (s 83A, Crimes Act):
- Making or using false documents with the intent to deceive or gain advantage.
Suppression of Documents (s 86, Crimes Act):
- Concealing, altering, or destroying documents to cause loss or gain advantage dishonestly.
Falsifying or Concealing Identity (s 60, Taxation Administration Act):
- Concealing or falsifying taxpayer identities to evade obligations or mislead authorities.
Insider Trading (Division 3, Corporations Act):
- Trading financial products based on confidential, non-public information or passing such information to others.
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I found myself again before the magistrates court for an indictable offence, I was worried about receiving a jail sentence because of my age and h... Read More5/5
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Good Faith, Use of Position and Use of Information as Criminal Offence
-
Financial Assistance by a Company for Acquiring Shares in the Company or a Holding Company
-
Officer of a Company That Has Induced Frauds
-
Failing to Keep Proper Records
-
Failing to Keep Additional Records for Taxation
-
Inclusion of False or Misleading Information in Records
-
Failing to Provide Access to Records
-
Form of Record
-
Giving False or Misleading Information to Tax Officers
-
Deliberately Omitting Information
-
Falsifying or Concealing Identity
-
Tax Evasion
-
Contaminating Goods with Intent to Cause, or Being Reckless as to Whether it would Cause, Public Alarm or Economic Loss
-
Destruction of Evidence
-
Corporate Criminal Responsibility, section 255
-
False Accounting
-
Falsification of Documents
-
Suppression of Documents
What happens next?
If you have been charged with a white-collar crime offence or suspect an investigation involving your activities, our team of expert criminal lawyers is available 24/7 for a consultation at 1800 130 120 or via email at marcus@mklawfirm.com.au.
We specialise in:
- Analysing the evidence and identifying inconsistencies.
- Negotiating with authorities to reduce or dismiss charges.
- Preparing strong defences to achieve the best possible outcomes.
- Advising on plea agreements to minimise penalties.
Engage with us early to ensure your rights are protected throughout the legal process.
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- 2/212 Barkly Street, St Kilda Victoria, 3182 Australia
- 1800 130 120
- marcus@mklawfirm.com.au