How does the statute of limitations apply to white collar crimes?

The statute of limitations is a law that sets a time limit for when a lawsuit or criminal prosecution can be filed. In the state of Virginia, the statute of limitations for most white collar crimes is five years from the date that the crime was committed. This means that any prosecution or lawsuits related to the crime must be filed within five years of when the crime was committed. In Virginia, some white collar crimes are considered felonies and will have longer statute of limitations. Fraud, for example, has a statute of limitations of 10 years in Virginia. Other white collar crimes, such as embezzlement and counterfeiting, are considered misdemeanors and will have a two-year statute of limitations. In Virginia, the statute of limitations can be tolled in certain circumstances. This means that the period is stopped and the statute of limitations will not run. This can happen if the perpetrator is outside the state of Virginia or if the perpetrator has concealed evidence or made false statements in order to cover up their crime. In short, the statute of limitations is an important legal concept that limits the amount of time the state of Virginia has to prosecute someone for a white collar crime. It also sets an amount of time for civil lawsuits to be filed in relation to the crime. Knowing the statute of limitations for a white collar crime is essential in order to calculate when a lawsuit or prosecution must be filed.

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