Fraud perpetrators are often referred to White-collar criminals.
White-collar criminal is a nonviolent crime that is sometimes characterized by fraud or concealment in order to obtain or avoid losing money or property, or to achieve a personal or professional benefit.
Sociologist Edwin Sutherland initially used the phrase "white-collar crime" in 1949 and defined it as a crime perpetrated by a person of respectability and high social position while doing their line of work. Blue-collar workers typically wore blue shirts and worked in plants, mills, and factories, while white-collar workers usually occupied non-laboring office roles.
Several well-known people have been found guilty of white-collar crimes, including Ivan Boesky, Bernard Ebbers, Michael Milken, and Bernie Madoff. Insider trading, shady accounting practises, securities fraud, and Ponzi schemes were among their misdeeds.
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