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The expense of a white-collar defense and why it matters

Defending yourself against a white-collar crime can be costly and time consuming, but it's something that needs to be done to protect yourself. In two prominent white-collar cases, the defendants spent upwards of $30 million on their defenses. That's extreme, but it shows the importance of working with the right attorney for your case. On top of that, a conviction can lead to many years in prison and extreme financial penalties.

In many cases, there is an incentive to plead guilty because of the money it saves. It also tends to lead to lesser penalties and a reduction in prison time because the person is seen as "taking responsibility." The problem with this is that there's still a potential for penalties that cost thousands of dollars and for a prison sentence. Why should someone who is not guilty plead that way just to save money or to hope that they'll see a reduction in a penalty they don't deserve?

It's also hard for defendants because many have lost their jobs and have poor job prospects. They need to spend a significant amount of time working on a legal defense with an attorney, which takes time away from days when they could be working. The prosecution, on the other hand, is a government with practically unlimited tools and assets, the ability to seize assets and to grant immunity to colleagues and employees willing to speak against the defendant.

White-collar crimes have heavy penalties, and it is important that you have the best representation to protect yourself. With the right help, you can mitigate the damage to your reputation and the fees associated with this kind of case.

Source: Forbes, "The High Cost Of Mounting A White-Collar Criminal Defense," Walter Pavlo, accessed Feb. 10, 2017

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