Abatement,White collar crimes
Are white collar crimes minor or serious crimes?
Will I be sent to jail for committing such a crime?
By  Mihir Dharap  |  11 Oct 2016  |  Upvotes: 0  | 

1 Answer(s)

Ravindra Purohit
Advocate

White Collar Crimes are a non-violent crime usually involving cheating or dishonesty in commercial matters essentially done for personal gains.
Let me explain you with a real example of company named SATYAM. On January 7, 2009, Ramalinga Raju, Chairman and founder promoter of Satyam Computer Services (SCS) vanished. He left a confessional letter. He said he had falsified accounts to the tune of thousands of crores.The verdict was announced by the Supreme Court in which ten accused including RamalingaRaju himself were convicted under various sections of the Indian Penal Code (IPC), such as Sec 120B (criminal conspiracy), 409 (criminal breach of trust), 420 (cheating), 467 (forgery of valuable security), 468 (forgery for cheating), 471(using forged documents as genuine) and 477-A (falsification of accounts). Wherein, Ramalinga Raju was sentenced to seven years of imprisonment, so it is clear that anyone who commits the white collar crimes has to face the music.

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