white-collar crime. the concept of white-collar crime term white-collar crime was coined in the...

Download White-Collar Crime. The Concept of White-Collar Crime Term white-collar crime was coined in the 1930’s By Edwin Sutherland Defined as “crime committed

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White-Collar Crime Slide 2 The Concept of White-Collar Crime Term white-collar crime was coined in the 1930s By Edwin Sutherland Defined as crime committed by a person of respectability and high social status in the course of his occupation. Slide 3 The Concept of White-Collar Crime The U.S. Congress defined white-collar crime as An illegal act or series of illegal acts committed by non- physical means and by concealment or guile, to obtain money or property, or to obtain business or personal advantage. More $ stolen and life's lost to white collar Slide 4 Difference in White Collar Crime? White Collar: Any Crime committed through deceit by someone you would assume deserves respect Occupational crime: Crime committed by individuals in the course of their employment (Lawyers, Doctors, any occupation creates criminals within that job) Corporate crime: Criminal activity on behalf of a business organization Slide 5 Globalcorp Read and answer the questions Do you agree with these sentences? What laws should Congress make to prevent these questionable and illegal business practices? Slide 6 Law Enforcement Response to Corporate Crime Corporate crime is monitored and responded to by a variety of criminal, administrative, and regulatory bodies, but very few corporate crooks are ever the recipients of truly meaningful sanctions. Great wealth does confer a certain degree of immunity from prosecution and/or conviction. Slide 7 The Enron Scandal: Crooks Cooking Books The Enron scandal did tremendous damage to the economy, and created a crisis of investor confidence the likes of which hasnt been seen since the Great Depression. Took down one of the 5 big accounting firms What they did: Made false entities to hide financial loses Cooked their books Slide 8 Law Enforcement Response to Corporate Crime The Sarbanes-Oxley Act requires company CEOs and chief financial officers to personally vouch for their companies financial disclosures, ensuring that such people can no longer assume a stance of plausible deniability. The White-Collar Crime Penalty Enhancement Act creates new substantive offenses, significantly enhances financial and incarceration penalties, and relaxes some procedural evidentiary requirements for prosecutors. Slide 9 Summary Take a look at Globalcorp Pick a White Collar Crime to learn about Slide 10 White Collar Crimes Mail Fraud Securities Fraud Insider Trading Martha Stewart Bank Fraud Counterfeiting / Forgery Catch Me if You Can Insurance Fraud Investment Schemes / Ponzi Madoff Tax Evasion Capone Insurance Fraud Many More With a partner pick a white collar crime, research and create a brochure to teach others about it.


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