Get Out of Jail Free Card for Chicago White Collar Offenses?

 Posted on December 19, 2024 in White collar Crimes

Federal prosecutors in Chicago are offering an unusual proposal. Beginning in late September, anyone who has "participated in and has knowledge of otherwise unknown criminal wrongdoing by virtue of their employment" has six months to come forward to tell federal prosecutors what they know without fear of prosecution. Any person working in the private sector or for a local, state, or federal governmental agency can take advantage of this "get out of jail free card." The benefit is clear – non-prosecution in exchange for ongoing assistance.

It must be noted that those who want to take advantage of this offer should be fully prepared to tell prosecutors everything. This offer will be largely for those who have committed lesser white-collar offenses, such as federal wire fraud or income tax fraud, rather than those who already have a criminal record or are already known to prosecutors as higher-level offenders. Officials want to be clear on the fact that this program is for non-violent offenders who have committed "traditional" white-collar crimes.

Those whose criminal offense involved terrorism, any sex offense, violence, or the threat of violence are ineligible for this program. Federal prosecutors say this latest effort is meant to expose the "entrenched culture of corruption" that has often defined state and local politics. The program was announced just days before a former Alderman began serving a prison term resulting from charges of extortion, bribery, and racketeering. This particular Alderman is the 38th member of the Chicago City Council to face a criminal conviction since 1968.

If you are considering coming forward to take advantage of this program, it is extremely important that you first speak to a Rolling Meadows, IL criminal defense attorney. Admitting a criminal offense can have serious, unintended consequences, so you must ensure your offense will be eligible for this forgiveness program before taking a step that cannot be undone.

Are White-Collar Crimes Different from "Regular" Criminal Offenses?

White-collar crimes are typically non-violent offenses committed by public officials or business professionals for financial gain. White-collar crimes have become extremely sophisticated as technology advances, often involving complex methods of embezzlement, insider trading, phishing scams, Ponzi schemes, money laundering, and more. In the past, white-collar crimes were considered those where the only "victims" were large corporations. Today, white-collar crimes like identity theft can definitely have individual victims.

Not All White-Collar Crimes Are Federal Charges

White-collar crimes are often – although not always – prosecuted on the federal level, primarily because many white-collar crimes affect interstate commerce. Not every white-collar crime will cross state lines, which results in individual states prosecuting some of these offenses. White-collar crimes that are more likely to occur at the state level include credit card fraud, investment fraud, insider trading, money laundering, and embezzlement.

For example, if money laundering occurs through an interstate corporation, then the person charged with the crime will likely be prosecuted federally because the offense affects a business operating across state lines. Conversely, a person caught laundering money through a local business that operates only in that state will face state charges. A federal conviction for any white-collar crime is likely to bring much harsher penalties than a state conviction for the same offense. Under certain circumstances, both state and federal charges can be levied against an individual.

Contact a Cook County, IL White-Collar Crime Lawyer

If you are facing white-collar criminal charges – or any other type of serious criminal charge – you need a highly experienced Chicago, IL white-collar crime attorney. When you choose Komie and Associates, you will benefit from an aggressive, skilled criminal defense attorney who can provide you with the advocacy and legal knowledge necessary for the most positive outcome possible. We often represent high-profile clients and never shy away from a controversial situation. Call 312-263-2800 today to schedule your free consultation.