The white-collar crime involves financial criminal acts. Many people mistakenly believe these crimes are victimless, but that is not true.
White-collar crimes often cost people a lot financially, and they can devastate people’s lives. The Florida Statutes establish the White Collar Crime Victim Protection Act to help those people harmed by this type of criminal activity.
The reason for the act is to help victims recoup lost property and money. It applies sanctions against anyone the court convicts of such a crime. The goal is to help protect property and reduce white-collar crimes.
The base sanction imposed under the act requires you to pay a fine of double the value of the loss you caused to the victim or at least $500,000. What you pay is the greater of the two options. In addition, the act requires you to pay for all court costs for victims. You also will pay restitution to make up for the victim’s losses. You will remain on probation until you repay all restitution. If your sentenced probation time is not long enough for you to complete repayment, the court can extend it by up to 10 years.
Victims in a white-collar criminal situation are any person negatively impacted by the actions. They must suffer some type of harm to be a victim. In most white-collar cases, there are multiple victims.
The White Collar Crime Victim Protection Act seeks to make the system fair for people who are victims of a white-collar crime. It adds additional punishment for those who have convictions for these crimes.