Being accused of violating your college's ethics code or honor code is very serious. Is it a crime? In almost all instances, thankfully, no, it would not be a crime. It would not lead to a criminal investigation or criminal charges. Can the consequences be otherwise profound? Yes, unfortunately. If a student is found responsible for violating their ethics code or the school's honor code, the consequences can vary. It could be anything as, say, relatively minimal as a warning through probation to suspension or even expulsion.
Such a consequence of finding responsibility, a sanction can follow a student in terms of trying to get into graduate school, professional school, employment. The consequences can be profound. If you did nothing wrong, if you're being falsely accused, it would be a matter of preparing the necessary defense. If you did something wrong, it would be a matter of responding accordingly and trying to possibly seek a mitigated outcome. Having an experienced attorney advisor will help you best understand and navigate the process and to take the best steps forward in addressing the concern.