As countries around the world are aggressively pursuing white collar criminals, U.S. prosecutors are coming under fire for a perceived avoidance of these cases. In fact, statistics from Syracuse University's Transaction Records Access Clearinghouse state that the federal government is on pace to prosecute at least a third fewer white collar criminal cases than in 1995.
Who is Being Prosecuted?
While this data does show a significant drop in the amount of cases that are being prosecuted, a large number of cases are still being aggressively pursued each year. Data from the Justice Department shows that more than 46,000 white collar criminal charges have been filed since 2009.
Critics point to the lack of charges for the "big names" in white collar crime, including bank executives and other high ranking professionals in the financial sector. This suggests that the majority of white collar cases are focusing on smaller, lower level crimes.
Facing Criminal Charges? Call (646) 480-1233.
While it's difficult to predict the future behavior of U.S. prosecutors, the data does suggest that they are continuing to focus on smaller-scale cases. As international pressure grows, we may see them become more aggressive and focus more resources into pursuing these crimes. At Langweber McQuat, we continue to represent a large number of individuals who have been charged with white collar crimes.
This drop in criminal convictions also points to the importance of retaining a skilled New York criminal defense attorney if you are facing even the potential of white collar crime charges. In some cases, your attorney can work with prosecutors to stop the investigation before charges are even filed.
Don't assume that you're immune from a criminal conviction. Contact our firm today for a free case evaluation.