Laws concerning financial fraud are undeniably complex. As a result, even finance, mortgage and tax professionals acting in good faith can become reasonably concerned that a potential misstep may lead to significant legal consequences.
Speaking confidentially with an attorney will almost certainly help to relieve any potential fears you may have regarding any professional missteps you may have made. However, it can also be helpful to understand that even in the event that you are convicted of white-collar wrongdoing, you will not necessarily face jail time. Oftentimes, the consequences of a white collar conviction do not include imprisonment.
Best Case Scenarios
Certainly, the most you can hope for is a knowledgeable attorney’s assurance that you have done nothing wrong. In the event that you have committed a minor infraction, you may be able to walk away from the situation with no more than a “slap on the wrist” in the form of a small fine, a few hours of community service and/or some other relatively minor consequence.
Mitigating the Consequences
In the event that you have made a more significant legal misstep, you may face more significant consequences. However, you will not necessarily face any jail time.
Potential fines and community service requirements may become more significant. You may be placed on probation with minor restrictions attached. Or perhaps you will be granted a suspended sentence. Non-serious infractions and first time offenders may be granted this option wherein a sentence is rendered but not officially handed down.
Finally, you may be placed on house arrest. While this consequence is not ideal, it is certainly preferable to jail time. Context is key, so it remains important to discuss the particulars of your situation with an attorney in order to obtain a better sense of what consequences, if any, you may be facing as a result of a potential professional misstep.