Attorney General Mike DeWine has made it a top priority to prosecute scam artists who prey on Ohioans with financial scams. He established the Consumer Protection Unit (CPU) to specifically combat fraudulent consumer fraud against Ohioans. The state of Ohio is home to a large number of scam artists and cons, which have perpetrated a number of fraudulent acts in the state. These criminals range from loan sharks that take advantage of desperate Ohioans to con them out of hard earned money, to job scammers who take advantage of workers at low wages. To fight these unsavory types of criminals, the state of Ohio has created what are called “economic crimes” that fall under each of the five categories of what are considered frauds.
The first of what are considered economic crimes is white collar crime. White collar crimes include; murder, involuntary manslaughter, kidnapping, assault, sexual abuse, fraud and embezzlement. This is not a complete list of white collar offenses because other white collar crimes have been added since the enacting of the statute. For example, an individual who possesses a firearm without a license or who receives stolen property or an illegal gun may be charged with aggravated murder, not white collar murder, as the crime was charged under another section of the law. The prosecutor will need to prove that the defendant intended to commit the crime, that he knew what he was doing, that he proximately caused the death of the victim, that the death was caused by a white collar crime, and that damages resulted from the defendant’s conduct.
The second of what are economic crimes is what are commonly referred to as “white collar” crimes. White collar crimes are generally crimes that do not involve monetary damage. Examples of this would be: tax evasion, bank fraud, false insurance claims, or murder for hire. What are economic crimes if the results are the death of a person? The state has to prove that the death was caused by a defendant who intended to cause injury or property damage and that the amount of damage was the result of conduct constituting white collar crime.
The third kind of what are economic crimes are what are commonly referred to as “white collar” crimes. White collar crimes do include fraud, which includes the structuring of transactions to avoid detection, or carrying out activities in order to avoid tax payments. Theft of property or services, assault, murder for hire, tax evasion, and white collar crimes such as fraud are what are commonly referred to as white collar crimes. It should also be noted that what are considered white collar crimes are not limited to criminal activity. Employment practices of employees, business transactions, and money laundering are all white collar crimes.
Financial crimes are what are considered the last resort of criminals who do not have alternative forms of finance available to them. This is because the penalties for fraudulent activity or money laundering can sometimes be quite harsh. For example, in the case of an employer who knows that an employee is falsifying time information so that he can qualify for paid time off, or in the case of a bank who knows that a customer wants to deposit large amounts of cash but cannot do so because of lack of access to a proper account, or in the case of a company owner who knows that some employees will sell company assets to others in order to create fictitious profits, financial crimes often come into play. There have been many instances when criminals have been released from prison or jail due to the threat of financial fraud.
Economic crimes are serious offenses. Those who commit these offenses face the possibility of long-term imprisonment, substantial fines, and other serious consequences. The U.S. Department of Justice and the U.S. Department of the Treasury have both stated that they will aggressively prosecute those who commit financial fraud and money laundering offenses.