Lawmakers, law enforcement personnel and others sometimes use the term "white-collar crime" to refer to a large category of financial crimes that occur in a workplace setting. The term itself comes from an old-fashioned notion that laborers wore shirts with blue collars while managers, bankers and other professionals wore shirts with white collars. But in fact, white-collar crimes can happen in many industries and types of workplaces. This is most easily seen in cases involving alleged embezzlement.
Three women here are facing charges after allegedly scamming hundreds of people in the U.S. and Canada through Facebook. One of the women was indicted on aggravated theft, money laundering and conspiracy. She is set to go to trial in October.
In many criminal cases, money laundering and the distribution of illegal substances go hand in hand. Criminals will often operate a small business, such as a laundromat, salon, or diner, and use that business to launder money made from behind-the-scenes drug deals. Using a legal business operation to cover up the fact that the money was earned through illegal drug sales is a crime classified as money laundering and embezzlement.
City employees in Ohio are often trusted to handle significant amounts of money and ensure that the money is spent as intended. Using money intended for another purpose or for your own personal benefit is considered a form of embezzlement and can result in criminal charges.
When an individual or company illegally and intentionally used funds of another party for their own use, they could be charged with misappropriation of funds. Misappropriating funds is a form of embezzlement, and you could face criminal charges in the state of Ohio. The severity of the penalties will depend on the amount of money involved and other circumstances surrounding the incident.
We've all heard of scammers using pyramid or Ponzi schemes as a way of taking advantage of hopeful, unsuspecting investors to get rich. What you may not know is that there are many laws in place in Ohio that prohibit these fraudulent activities.
Taking money or property that doesn't belong to you and using it for your own gain, with no intent of giving it back, is generally considered a theft crime in the state of Ohio. Embezzlement is similar to other crimes of theft and/or larceny, but differs in that it typically occurs when one party has legal access to someone else's money or property for management purposes, but ends up illegally diverting funds or otherwise using the other party's money for themselves without permission. With other crimes of theft, the offending party generally does not have legal access to the other party's money or property.
Many people make money on various investments. In the vast majority of cases, this is an ordinary thing to do. Sometimes, investments work out, and at other times, they do not yield the profit expected and may even be a total wash.
In addition to jail and other penalties, a person who is accused of crimes related to embezzlement or money laundering also faces the strong possibility of being ordered to pay restitution.
Previous posts on this blog have discussed various federal and state criminal charges that Cincinnati, Ohio, residents can face and that generally speaking have to do with how one handled his or her finances.