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Special accountants can help those facing white-collar charges

On Behalf of | Oct 20, 2023 | Criminal Defense

White-collar criminal charges are generally financial crimes. An assortment of different state and federal charges fall into this expansive category. Various types of fraud, insider trading and embezzlement are all white-collar crimes. So is money laundering. A white-collar criminal charge could lead to either state or federal prosecution. Oftentimes, financial crimes will risk not just criminal penalties but also financial liability for someone who is convicted of wrongdoing. Judges can impose large fines, and the defendant may have to repay those who accuse them of fraud or embezzlement.

Someone who is facing allegations of a financial crime may feel as though they have few options, but the truth is that a successful defense is often possible. Someone responding to a white-collar criminal offense will likely need the assistance of a legal professional and also a specialized financial professional in order to place themselves in the strongest possible position to seek a favorable outcome.

Forensic accountants can help build a strong defense

Accountancy is a skilled profession that requires both experience and education. Some accountants go into highly-specialized fields. Rather than simply managing payroll or tax filings for businesses, some accountants may partner with legal authorities or criminal defense teams. Forensic accountants are specialists who can go over financial records in minute detail. They can trace where money comes from and where it goes. They may be able to identify parties who had access to accounts or resources. Often, their thorough evaluation of the evidence in a white-collar case will provide the basis for a viable criminal defense strategy.

A forensic accountant could identify the parties who directly profited from the situation. They could track down missing resources or determine conclusively that a specific individual did not play a role in all of these questionable transactions. Their efforts may not always identify an alternative suspect, but they could at least help raise a reasonable doubt about someone’s alleged criminal activity.

Given that the prosecution of white-collar criminal charges often involves a huge amount of financial evidence, it is unrealistic to assume that individual defendants would be able to analyze those records on their own. Ultimately, bringing in professionals, including forensic accountants and other expert witnesses, can make a major difference for those preparing to fight back against white-collar criminal charges.