An economy crime, also known as a financial crime, by definition is a crime committed against property that involves the unlawful conversion of the ownership of property to one’s own personal use and benefit. The term “property” here doesn’t necessarily mean real estate, although it certainly could pertain to the theft of someone’s deed. In a legal sense, property refers to anything tangible owned by an individual, like jewelry, automobiles, clothing, toys, and much more.

Economy crimes may involve fraud, insider trading, theft, scams or confidence tricks, tax evasion, bribery, embezzlement, identity theft, money laundering, forgery, and counterfeiting. The production of counterfeit money and consumer goods are financial crimes as well.

The FBI and those speaking in layman’s terms sometimes refer to this as “white collar crime.” The motivation behind these crimes is plain and simple: to get money. Financial crimes are done to obtain or avoid losing money, property, or services, or to secure a personal or business advantage. Economic crimes are characterized by deceit, concealment, or violation of trust. They are not dependent on the application or threat of physical force or violence. 

That being said, financial crimes may involve additional criminal acts, such as cybercrime, elder abuse, robbery, armed robbery, or murder. If a person robs someone of their wallet by pointing a gun at them, it is both an economy crime and a violent crime.

What to do if You’re Charged with an Economy Crime

Remain calm, above all else. Any time you’re charged with a crime, no matter what it is, your first step is to contact a criminal defense attorney. If you’re still in jail, this can be done either by you or by your family on your behalf. In fact, getting you out of jail will be your new lawyer’s top priority!

No matter what your situation is at the moment, a Covington lawyer can help! Misdemeanor or felony, the outcome of this case can affect your job, your credit, custody of your kids, and even your ability to go hunting. This is too important to hope and pray that the case goes your way. Only a criminal defense attorney, not a public defender, will have the time and resources necessary to mount a proper defense strategy. In some cases, we may be able to resolve the case without the need to go to court at all!

Contact our Office to Speak to a Covington Lawyer

Those in the Covington area should reach out to our legal team here at Ellen Cronin Badeaux. We have 27 years of experience representing people accused of an economic crime. Not knowing what lies ahead can be very scary. We do our best to eliminate that fear. Don’t trust your case, and your future, to anyone else!

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