Skimming is a type of white-collar crime that involves a person taking value off of the top of a certain transaction. To skim is to take “a little off of the top.” When this is done on large transactions or on a lot of small transactions, the amount of money involved can result in misdemeanor or felony charges. Skimming can occur in a lot of different industries, from real estate and car sales to financial planning and tax preparation. If you’re facing any type of criminal charges associated with skimming or any other form of white-collar crime, you need to contact a criminal defense attorney as soon as possible about your case.
Taking money off of the top of a transaction is known as skimming. It doesn’t matter if it’s a few pennies here and there or a much larger sum on a one-time deal. When money is skimmed off of the top of a transaction, you can be facing criminal white-collar crime charges. In some cases, skimming can deal directly in cash. This happens when a little bit of money is skimmed off of the top of a transaction. Even if somebody isn’t a victim of the skimming, it’s still possible to face charges associated with tax evasion. It is possible to skim money from yourself in efforts to reduce the amount reported on in taxes. In addition to skimming charges, you could be looking at a variety of other charges and crimes, depending upon the unique circumstances of your individual case.
White Collar Crimes
Skimming is technically known as a “white-collar crime.” This type of crime is most commonly associated with the financial sector. These aren’t traditional ‘violent crimes.’ They don’t involve a typical shakedown or theft at knifepoint or gunpoint. They involve paperwork and falsification of documents. Although they don’t involve violence, they’re still very serious crimes. These apparent victimless crimes can land you in hot legal water too, both criminally and in the civil legal system. No matter what kind of white-collar crime charges you’re facing, your first step needs to be speaking with a criminal defense lawyer who has proven white-collar crime case experience.
Skimming and Tax Evasion
Skimming cash and falsifying sales records to avoid reporting accurate transaction values to the IRS is a form of tax evasion. In addition to skimming charges, you will also be facing tax evasion charges. All values have to be accurately reported to the federal government. If documents are falsified, and a little bit of cash is skimmed off of the top, you could be facing serious felony charges.
Equity skimming is another common type of white-collar crime. This type of skimming occurs in the real estate sector. Equity skimming is what happens when a person collects rent on a property but does not pay the mortgage. For example, if you’ve purchased a home and you’re collecting rent from a tenant, you have to pay the mortgage. If you don’t pay the mortgage, but you do collect rent on the home, that’s known as equity skimming.
Penalties Associated With Skimming and White Collar Crimes
Each case is different, and depending upon the unique circumstances of your individual situation, you could be facing a variety of potential penalties. In most cases, skimming will be a felony charge. Unless the amount of money involved is very small, you’re looking at federal crimes. If there are tax issues, expect to see additional charges. It can take a while for these cases to be fully investigated, and in many cases, people might be under investigation for a length of time prior to being arrested and charged, so if you think you’re being investigated for skimming or any other type of white-collar crime, it’s important to speak a criminal defense attorney as swiftly as possible about your case.
In addition to potential prison time, fines and other expenses associated with a skimming conviction, you could also be looking at a long-term severe impact on your professional career and reputation, even after your debt to society has been paid. These cases are time sensitive. The sooner you speak with a defense attorney, the better chance you have at a favorable outcome in your case. If you or a loved one is facing skimming charges or any other type of white-collar crime charges in or around the Jackson Metro Area, contact the skilled and proven Criminal Defense team at Coxwell & Associates, PLLC at (601) 265-7766 for an immediate case consultation.
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