Most white collar crimes can be prosecuted as either Utah state crimes or federal crimes. Some white collar crimes, such as crimes involving interstate commerce, are specifically federal crimes. The most notorious federal white collar crime is RICO.
RICO, or Racketeer Influenced and Corrupt Organizations, is a federal law enacted to punish an individual or group who commits two criminal acts associated with racketeering activity and involves interstate commerce within a ten year period as defined under title 18 of the United States Code §§ 1961-1968. Federal RICO charges result from a violation of the federal statutes and are prosecuted in Utah federal courts.
Another common federal crime is mail fraud. This type of fraud, codified in 18 USC § 1341, requires a scheme to defraud someone of money or property through the use of the United States Postal Service or a private mail carrier, like UPS or Fed Ex. An example of mail fraud involves “selling” non-existent property to a resident of another state through the mail.
Wire Fraud is very similar to mail fraud. This federal white collar crime involves any type of fraud through the use of any wire, such as telephones, radio or telephone that crosses state lines. Therefore, this crime is very broad, and prosecutors can easily make a case against someone they want to charge with a federal crime.
Bankruptcy Fraud is a charge someone can easily be accused of if they hide assets or other information in a federal bankruptcy action.
Securities Fraud occurs when a securities agency or company fails to disclose activities to investors or analysts. Insider trading often falls into this type of fraud.
Ponzi Schemes – these types of federal white collar crimes are often in the news. In these situations, an investment manager takes money from new investors to pay old ones, instead of investing the money as promised.