Definitions

White Collar Crime Definitions

The following definitions are provided by Sipsma, Hahn & Brophy, L.L.C., attorneys in Madison, Wisconsin. If you have been arrested and charged with a white collar crime, or are merely under investigation, contact the firm to schedule a confidential consultation.

Fraud-Fraud is the intentional and untrue assertion of fact or the similar use of deceit, a trick, or some dishonest means to deprive another party of money, property, or a legal right.

Embezzlement-Embezzlement is defined as theft of assets, including money or other property, by a person in a position of trust or responsibility over those assets. Embezzlement typically takes place in the employment settings.

Theft-The term theft is used to identify all types of crimes involving an intentional and fraudulent taking of the property of another without permission and with the intent to use as one's own.

Financial crimes/misconduct/mismanagement-Financial crimes involve any use of illegal means, including fraud, misrepresentation and theft, to manipulate financial accounts, such as bank accounts or business income and expense accounts, or to acquire money to which you are not entitled.

Wire fraud-Wire fraud crimes refer generally to any fraudulent or deceitful scheme to secure money or property, committed or aided through the use of interstate wires or transmissions, including televisions, radios, telephones, or computer modems.

Mail fraud-Mail fraud involves any scheme that attempts to unlawfully obtain money or valuables where the postal system is used at any point in the commission of the crime.

Computer fraud-Computer fraud is fraud by electronic means or through the use of a computer or the Internet.

Identity theft-Identity theft is the unlawful use of another person's identity, including personal information, and can include the use of another's name and Social Security Number to obtain goods and services, the use of another's identity when charged with a crime, the use of another's information to assume that person's identity in daily life, and the use of another's business name to obtain credit.

Bank fraud-Bank fraud is the use of fraud to obtain property or money from any federally insured financial institution.

Check fraud-Check fraud refers to a category of criminal acts that involve making the unlawful use of one or more checking accounts in order to illegally acquire or borrow funds that do not exist within the account balance or account-holder's legal ownership.

Credit card fraud-Credit card fraud is theft or fraud committed using a credit card or any similar payment mechanism as the fraudulent source of funds in a transaction.

Forgery-Forgery generally refers to the making of a fake document, the changing of an existing document, or the making of a signature without authorization. Documents that can be the object of forgery include contracts, identification cards, and legal certificates. Most states require that forgery be done with the intent to commit fraud or theft.

Uttering-Uttering is the act of offering a forged document to another when the person making the offer has knowledge that the document is forged. It is often combined with "publishing," which is the actual act of forging a document.

Misappropriation-misappropriation is the intentional, illegal use of the property or funds of another person for one's own use or other unauthorized purpose, particularly by a public official, a trustee of a trust, an executor or administrator of a dead person's estate or by any person with a responsibility to care for and protect another's assets (a fiduciary duty).

Misconduct - employment

Theft in employment-This is essentially the same as embezzlement, defined above.

Theft and Misconduct in Public Office-Generally, the misappropriation of funds or property to which one has access by virtue of being an elected or appointed public official.

Bid rigging-Bid rigging is an illegal agreement between two or more competitors. It is a form of price fixing and market allocation, and it involves an agreement in which one party of a group of bidders will be designated to win the bid.

Conspiracy-A criminal conspiracy exists when two or more people agree to commit almost any unlawful act, then take some action toward its completion. The action taken need not itself be a crime, but it must indicate that those involved in the conspiracy knew of the plan and intended to break the law. One person may be charged with and convicted of both conspiracy and the underlying crime based on the same circumstances.

Collusion-Collusion takes place within an industry when rival companies cooperate for their mutual benefit. Collusion most often takes place within the market form of oligopoly, where the decision of a few firms to collude can significantly impact the market as a whole.

Stock/Securities fraud-Securities fraud can be committed when 1) a corporate officer or director makes a material misrepresentation, withholding, or distortion related to stock information (usually pertaining to value), 2) an officer or director unlawfully discloses confidential information related to a stock, and 3) an individual or entity acts upon the unlawful disclosure of certain confidential stock information. Securities fraud is usually governed by both federal and state law, and legal action can be initiated by private investors, or by a government agency such as the U.S. Securities and Exchange Commission.

Financial irregularities-

Voter fraud-Also known as electoral fraud, voter fraud is any illegal interference with the process of an election. Acts of fraud tend to involve affecting vote counts to bring about a desired election outcome, whether by increasing the vote share of the favored candidate, depressing the vote share of the rival candidates, or both

Campaign fraud/irregularities-Campaign fraud involves intentional misrepresentation to acquire political donations or matching funds, or the wrongful use of such funds for personal gain.

Complex financial crimes

Financial transaction crimes

Contract fraud-The use of fraud to wrongfully induce a party to enter into or perform under a contractual relationship.

Construction fraud-The use of fraud or misrepresentation in a construction context, often where a party misrepresents that the construction is complete or is in accordance with the terms of a construction contract.

Bankruptcy fraud-Bankruptcy fraud is committed by individuals and corporations who conceal and misstate assets, who mislead creditors, and who illegally pressure bankruptcy petitioners.

Lobbying violations-Engaging in wrongful or inappropriate activity when representing private interests before a public entity.

Professional licensing violations-Engaging in activity that violates rules and regulations governing the holding of a professional license, such as a license to practice law, medicine, or dentistry.

Contact the offices of Sipsma, Hahn & Brophy, L.L.C., in Madison, to schedule a confidential consultation.

Sipsma, Hahn & Brophy, L.L.C.
701 E. Washington Avenue, Suite 201
Madison, WI 53703-2958
Phone: (608) 243-1230
Fax: (608) 243-1232