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San Jose CA embezzlement lawyerEmbezzlement charges are a serious matter. Stealing from your employer and diverting funds into your own or even other accounts can leave you facing serious criminal penalties in California. If the amount you are accused of misappropriating is large enough or involves people and companies in other states or countries, it could also result in federal charges. Even the accusation of this type of crime can ruin your career and your reputation within the community, which is why you need an experienced criminal defense attorney on your side to respond immediately to these charges. 

Former Tesla Employee Faces Heavy Jail Sentence 

A former San Jose man was indicted by a grand jury in November 2018 on charges he was part of a $9.3 million embezzlement scheme while working for car manufacturer Tesla’s Global Supply Management group. The Silicon Valley Business Journal reports that the 32-year-old man joined Tesla in 2013 as a purchasing specialist, rising to the level of group manager of the Global Supply Management and Industrialization team in 2017. He is accused of hatching a plan over the course of 2016 and 2017 to divert funds owed by a Taiwan-based auto parts supplier to a different company located in Germany. 

The man impersonated employees to direct funds from Hota Industrial Manufacturing Co., Ltd. (Hota) to a different supplier, Schwabische Huttenwerke Automotive (SHW), whose relationship had previously been terminated. As part of the embezzlement scheme, the man is also accused of falsifying invoices and creating fraudulent accounts payable documents, which included bank account information and wire instructions. 

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Common Types of White Collar Crime in the United States

San Jose white collar crime defense lawyerNot all crime is violent - white collar crime is a crime that is typically carried out by business people or government officials and is characterized by its financial motivation. White collar crime usually involves some sort of deceit, lying, or violation of trust in order to gain financial or business incentives. Though it is not a violent crime, white collar crime is still damaging and can destroy businesses and cost people their life savings. Because of the seriousness of the crimes, white collar crime can be prosecuted at both the state and the federal level, which can have damaging consequences.

Embezzlement

This type of crime occurs when someone takes property that is entrusted to them, usually through the misappropriation of money. Typically, those who embezzle tend to take small amounts of money over a period of time to reduce the chance that they will get caught. Sometimes, people will take a large amount of money and then disappear.  

Corporate Fraud

There are many different types of fraud that fall under the category of white collar crime. Types of fraud include:

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money laundering, San Jose white collar criminal defense lawyers, laundering money, Bitcoin, white collar criminalsWhen people hear the term “money laundering” they often think of gangsters back in the day running dirty money obtained by illegal means through shops, casinos, financial institutions, etc. in order to layer it into legally obtained funds and make the dirty money “clean.” However, with the advance of computer technologies money laundering techniques have become more sophisticated. The cyber white collar criminals of today frequently attempt to launder money through virtual currency platforms such as Bitcoin.

Bitcoin enables individuals to pseudonymously manage financial transactions via the use of peer-to-peer technology, rather than through traditional banks. According to a report from The Guardian, this platform is known to have relaxed standards when it comes to checking users' identities and for choosing not to collaborate with law enforcement. Additionally, the report notes that recently Bitcoin was allegedly used by a Russian criminal mastermind in an attempt to launder $4 billion in Bitcoin for people who made money via a variety of different illegal activities ranging from drug trafficking to computer hacking.

The funds seem to have been laundered through two different San Francisco based exchanges that are owned by the accused; so, if he ends up being tried for money laundering in California he will likely be charged under one or both of California’s main money laundering laws.

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