White collar crime is a nonviolent, money-related type of crime usually committed by business professionals or government officials who are financially motivated to find a way to gain control of assets, typically those that are not theirs to begin with. One notable Florida case involves housing developer, Lloyd Boggio, who was charged in a $34 million dollar fraud case in Miami that impacted low-income families. Rather than to face a jury of his peers, Boggio pled guilty in his case. Boggio and his co-conspirators inappropriately used U.S. tax credits and received monetary benefit from 14 different government housing developments. By taking the plea bargain, Boggio is now serving 54 months in prison rather than the possible lifetime behind bars that he could have faced after a trial.
White-collar crimes may not always be as obvious a crime as something like a murder or a robbery. Many times, these are crimes committed by people you would never expect to be involved in criminal activities. White-collar crimes often happen "on paper," and the prosecution needs to prove something as subjective as "intent" in order to prove that a crime was actually committed.
Money laundering has a long history as being a white-collar crime connected to various types of illegal activities such as the drug or sex trade, and any activities involving cross-border smuggling. In South Florida, we have heard many stories throughout our history of illegal drug money being laundered through legitimate businesses in the area. But what exactly does it mean to launder money? And what are the implications of a crime like money laundering?
White Collar Crime is a term that commonplace in news outlets across the globe. These criminal acts include such offenses as embezzlement, bribery, money laundering, racketeering, and other financial crimes related to financial or property gain. It can also include the avoidance of a loss of finances or property and other deceptive acts from businesses and government professionals.