Accusations of white-collar crimes such as embezzlement or fraud are extremely serious and can lead to life-altering penalties if you’re convicted. Regardless of your innocence, you must recognize that the justice system will seek to make you an example and work to hold you accountable for any involvement.
In this post, an Oklahoma City white-collar crimes lawyer describes the potential penalties for white-collar crimes in Oklahoma and how to defend yourself against these charges.
Potential White-Collar Offenses and Penalties in Oklahoma
According to the Federal Bureau of Investigation (FBI), white-collar charges usually involve lying and using false pretenses to obtain personal benefit in the financial and commercial industries. These crimes are usually nonviolent, but they can rob entire families and companies of their assets. In Oklahoma, some offenses are misdemeanors while others are considered felonies.
Here are the most common white-collar crimes and their penalties in Oklahoma:
- Fraud: Under Oklahoma Statute § 1541.1, defrauding another through trick or deception for less than $500 results in 1 year in county jail and a $1,000 fine. For $500 to $1,000, you could face 1 year in jail and pay $5,000 in restitution, with anything over $1,000 leading to up to 10 years in state prison.
- Embezzlement: A misdemeanor charge for embezzling in Oklahoma of less than $1,000 carries 1 year in jail and a $1,000 fine, and a felony for up to $25,000 carries 5 years and a $5,000 fine. For amounts greater than $25,000, you could receive 10 years in state prison with a $10,000 fine.
- Tax evasion: If you fail to file your tax return, it could lead to 1 year in prison and $5,000 in fines, escalating to a felony with 10 years and $5,000 in fines if you knowingly file a false or fraudulent return.
Other white-collar activities described in Oklahoma Statutes Title 21 Crimes and Punishments include conspiracy, money laundering, identity theft, and extortion. If the charges involve the U.S. government or its representatives, you may also face federal charges that carry even harsher penalties.
Other Consequences of a White-Collar Crime Conviction
In addition to incarceration and fines, you’ll likely have to pay restitution to any victims for what they lost. A conviction can also result in losing your job, struggling to find a new one, and serious damage to your professional reputation. Many people report losing personal relationships and housing opportunities after they complete their sentences.
A felony conviction can also affect your right to vote, own a firearm, and obtain funding for a home or education. You may have to forfeit personal property, serve time on probation, and pay the costs of bringing you to trial.
What to Do if You’re Under Investigation or You’ve Been Arrested for White-Collar Crimes
If you suspect you’re the target of an investigation for white-collar crimes, you must secure legal representation right away. During your initial consultation with your defense attorney, you can explain your circumstances and ask questions. Your lawyer will explain what to expect during the bail and bond procedures if you’re arrested, and discuss the difference between state and federal charges.
You should never talk to the police without a lawyer, and if you’ve already been arrested, you should stay silent until your attorney arrives. Preserve all evidence that pertains to the charges, avoid talking to anyone besides your lawyer, and collaborate with your legal team as they prepare your case.
Your attorney can prepare defenses based on your case, such as lack of criminal intent, entrapment by law enforcement, or illegally obtained evidence. Never underestimate the damage a white-collar criminal conviction can do to your life. Instead, contact us at Josh Lee & Associates for a free consultation and let us defend your rights.
