White Collar Crimes White Collar Crimes
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White Collar Crimes White Collar Crimes

“White . collar crime" can describe a wide variety of crimes, but they all typically involve crime committed through deceit and motivated by financial gain. . The most common white collar crimes are various types of fraud, embezzlement, tax evasion and money laundering..

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White Collar Crimes White Collar Crimes

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White Collar Crimes


White Collar Crimes


collar crime" can describe a wide variety of crimes, but they all typically involve crime committed through deceit and motivated by financial gain.

The most common white collar crimes are various types of fraud, embezzlement, tax evasion and money laundering.

Often thought of as “Victimless”




Fraud is a general type of crime which generally involves deceiving someone for monetary gain.

One common type of white collar fraud is securities fraud.


Types of White collar crimes

Securities Fraud

Tax Evasion

Money Laundering

Identity Fraud


Insider Trading

Insider trading is when traders of a public company’s stock/bonds, by individuals have access to nonpublic information about the company.

A person who engages in this action may work for the company that he/she buys the stock for, but they do not have to, it as unfair to investors who are not privy to such information.

Insider information is a non-public fact regarding the plans or condition of a publicly traded company that could provide a financial advantage when used to buy or sell shares of the company's stock

Insider Information is usually gained by someone who has close relations to working or close to a listed company

Criminal Penalties.

The maximum prison sentence for an insider trading violation is now 20 years.

The maximum criminal fine for individuals is now $5,000,000

- the maximum fine for non-natural persons (such as an entity whose securities are publicly traded) is now $25,000,000. Civil Sanctions.



“To imitate something”


counterfeit money (like using monopoly money or copying dollar bills)

Counterfeit products (knockoff Michael Kors, YEEZY’s)

Money is the most common item counterfeited

Punishment (felony):

Money: up to 20 years OR $250,000 fine

Goods: 10 years in prison or $2,000,000 fine


Identity Fraud

Definition- Crime in which a criminal obtains and uses a victim's personal data through fraud or deception

Causes: Stealing wallet or purse, stealing mail, and “tricky” technology (Ex.: risky websites and emails).

Effects: Financial stress, anxiety or emotional volatility, false arrest, loss of federal or state benefits.

Punishment(s): Up to 15 years of imprisonment and substantial fines.



Theft or misappropriation of funds placed in one's trust or belonging to one's employer.

Specific type of fraud

Accounting embezzlement is the manipulation of accounting records to hide theft of funds.

Punishment: Fine, Jail, Prison time or all of these depending on the state you live in


Money Laundering

the process of creating the appearance that large amounts of money obtained from serious crimes, such as drug trafficking or terrorist activity, originated from a legitimate source.

Can result in a prison sentence of 10-20 years depending on the amount laundered


Tax Evasion

Def: the illegal nonpayment or underpayment of tax.

Tax evasion activities include:

Underreporting income

Inflating deductions or expenses

Hiding money

Hiding interest in offshore


Punishment: It’s a felony and you’ll be imprisoned for 5 years or less




a person passes a false or worthless instrument such as a check or counterfeit security with the intent to defraud or injure the


The document must have some form of legal significance

Changing or altering the appearance of document

Making or creating a false document

Having the potential of defrauding a normal individual

Possessing the intent to deceive or defraud.

Consequences: loss or suspension of certain privileges and may spend time in federal prison.


Mob related crimes

Al Capone

Henry Hill



Mickey Cohen

Lucky Luciano

Carlo Gambino

Frank Costello


Meyer Lansky

Despite being of a Jewish background in an era where Italian-Americans ran the mob, his admirable knowledge of business and finances made him a key figure in helping to strengthen the mob.

Between 1932 and 1934 Lansky joined Luciano and Johnny


, among others, and formed the national crime syndicate and became one of its major overseers and bankers, often laundering funds through foreign accounts.

By 1970 it is said that the total holdings for Meyer were estimated to be at $300,000,000. (Mob Accountant)

Sentenced to 50 years in prison


Al Capone “Scarface”


of Chicago mob, came from wealthy Italian family



was his influence, got him into crime

Ran prostitution, gambling, and bootlegging rackets; gunned down rival gangs so they could make the most $$

Used the Four Deuces as their base (whorehouse and gambling all in one)

Capone and brothers threatened voters and won office

Earned $100 million through tax evasion, went to Alcatraz

Fun fact: died in January of 1947, wasn’t buried until February of



Lucky Luciano

Who- considered the “father of organized crime” in the United States for the establishment of the first commission.


likely did more to create the modern American Mafia and the national criminal Syndicate than any other mobster.


was tried, and successfully convicted for compulsory prostitution and running a prostitution business in 1936.


Frank Costello

On May 13, 1954, he was convicted on three counted of federal income tax evasion and sentenced to five years in prison and fined $30,000. He was released from prison after serving 3 ½ years

Worked for Vito Genovese and took over the vice ring for gambling

Convicted for embezzlement

Also convicted for



Carlo Gambino “The Godfather”

bookmaking, loansharking, hijacking and extortion, as well as maintaining as much a presence as possible in the labor unions.

convicted of running an illegal liquor still and served almost two years in federal prison

In 1970, he was indicted for masterminding a major East Coast burglary ring.


was known for offering arresting FBI agents coffee and dessert at his home before they took him in for booking.


John Gotti

an Italian-American gangster who became boss of the Gambino crime family in New York City.




was convicted of five murders, manslaughter, conspiracy to commit murder, racketeering, obstruction of justice, illegal gambling, extortion, tax evasion, and loansharking.


was sentenced to life in prison without parole.


was transferred to United States Penitentiary, Marion.


In groups of two, you will be researching and creating a brief PowerPoint presentations on both a white collar crime (I will assign them), and a mobster/the crimes they


White Collar Crimes- Cover the crime, what it entails, and the punishment

Mob Crimes- Who the mobster was, what his crimes were (describe the crime too), and what their punishments were