White Collar Crimes

White Collar Crimes is a name used to refer to crimes that do not involve violence and typically have money at the center of the offense. Today in the Clarion Ledger there was an article about 6 people arrested for insider trading. Insider trading is a crime. It takes place when a person has knowledge about a business that should be kept private yet the person gives that information to his friends so they can buy or sell the stock and gain an advantage over the rest of us who have to rely on public announcements. In other words a crime takes place when someone used private information to make a profit. The FBI and other law enforcement agencies called the crime the “largest ever related to hedge funds.” The people charged were secretly recorded on wire talking about their criminal schemes. One of those arrested was a billionaire. I guess it goes to show no matter how much money you have, you never think it is enough. These men and women are going to require good attorneys. The article in the paper was very specific and damaging but we owe everyone a presumption of innocence until they either plead guilty or are found guilty in open Court.

Disclaimer: This blog is intended as general information purposes only, and is not a substitute for legal advice. Anyone with a legal problem should consult a lawyer immediately.

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