White-collar criminals normally use falsified information to gain Trust and contracts with wealthy investors but only to their personal gains, which Martin R. Marty Frankel did. In the mid-1980s Martin R.” Marty” Frankel became friends with a man named, John Schulte. Schulte was the owner of a small brokerage firm known as John Schulte’s, Inc., which was affiliated with Dominick of New York City. Frankel convinced Schulte's wife, Sonia that he was a "Jewish genius" and had a really good way of dealing with stocks. In January 1986, Sonia convinced her husband, Schulte to hire Frankel as a consultant.…
According to Brian Payne’s, White Collar Crime, when the term white-collar offender is used, images of offenders from the economic or technological systems are often thought of (Payne, 2013). Crimes that are found in economic systems are those crimes committed by individuals such as stockbrokers or investors working in investment companies or other exchange markets that make investments, purchase materials and secure goods. Some examples include the Ponzi and pyramid schemes, insider trading or market manipulation. Crimes that are found in the technological systems are computer related actions that can sometimes be criminally illegal or harmful. These include software and internet crimes, virus introduction and unauthorized access to a variety…
It is my belief Parks should have been charged if he was aware of the conditions the warehouse being operated under. Whether or not he was actually working at the warehouse he has some type of responsibility in maintaining its sanitation and abiding by the Federal Food, Drug, and Cosmetic Act, which he failed to do himself as well as his "dependable subordinates" (dynamic business law, 166). Additionally, after receiving a warning he continuously ignored illegal protocols in the warehouse that he knew could potentially affect a consumer’s health so he most certainly should be held responsible. He may not have intended to cause harm directly to anyone but he is more than aware that rodent contaminated food that has been ruled toxic by the FFDCA could potentially hurt a consumer, therefore he should be convicted though a light charge should be given to him.…
How and why did these particular individuals rise to great heights and dominate organized crime and racketeering. There will also be a focus…
White-collar crime is “a variety of non-violent illegal act against society that most often occur in the business context.” (Kubasek, p.151) One of the white-collar crimes associated with Funny Face and Novelty Now is criminal fraud. Criminal fraud involves several ways in which an individual intentionally uses misrepresentation to gain an advantage over another. Fraud usually has “…the following three elements: (1) a material false representation made with intent to deceive (scienter), (2) a victim’s reasonable reliance on the false representation, and (3) damages.” (Kubasek, p.152) The three elements of fraud are clearly present in this…
All fraudulent individuals have three aspects in common: the opportunity to commit a crime, the financial pressure to ignite thoughts to commit a crime, and the rationalization to make a crime seem less ethically incorrect than it really is to commit (Will et al). Barry Minkow, after gaining high power and praise in the market by reporters and Oprah Winfrey herself, had all three of these aspects allowing him to commit his fraudulent white collar crime worth more than $200 million on paper (Ciulla). When Minkow was 16, he started his own carpet cleaning business in his parents’ garage under the name of ZZZZ Best (Ciulla). People viewed Minkow as a prosperous young entrepreneur, but they didn’t know that his carpet cleaning business was all…
Facts for: Proof at trial illuminated the fact that Bourke, a prosperous businessman, intentionally assisted rogue investor Viktor Kozeny in a fraudulent endeavor to obtain the…
To this day, one of the most well known American swindlers and criminals of the administrative field is Bernard Madoff. The opportunist made it seem as though he was a caring nice individual that could be trusted, but the real truth was that he was a crazed and greedy criminal. It came as a shock to most people when he confessed to the crimes he had committed because he was a master at hiding the person he truly was. The people he worked so closely with believed in him and trusted him whole heartedly and he betrayed them by masterminding one of the largest investment frauds to ever be committed by one person.…
“Top officials at the Houston-based company cheated investors and enriched themselves through complex accounting gimmicks like overvaluing assets to boost cash flow and earnings statements, which made the company even more appealing to investors” (Famous Cases and Criminals). Agents conducted over 1,800 interviews, collected more than 3,000 boxes of evidence and more than four terabytes of digitized data, and seized more than $164 million. Their efforts resulted in the convictions of nearly all of Enron’s executive management team (Famous Cases and…
Corporate criminals are portrayed are not viewed as pathological and their crimes, are ‘’decriminalized’ ’and seen as ‘’technical law violations.’’ (Surette, 2015) In the news however, when these criminals are shown and their crimes are explained, they are in a bad position. These tend to be big names, therefore if they have committed a crime such as stealing the public’s money, their image deteriorates. For example, In Canada, a few senate scandals came out surrounding the fact that members of our parliament were using tax payers money to buy their own personal belongings and travelling to exotic places with their family, which the claimed as business expenses.…
The Psychology: Narcissistic Haven In the case of Agape World , Inc. Nicholas Cosmo surprised many in the investing community by investing some of the stolen funds in the commodities futures market. In criminal law, this phenomenon is known as “Consciousness of Guilt”.…
Introduction “He who does not prevent a crime when he can, encourages it”, a quote from Lucius Annaeus Seneca that helps describe how society views and “prevents” crime. Criminal theories attempt to construct views on how to prevent and fight crime but often the criminal justice system is working against society. The two theories that are explained within are the social learning theory and rational choice theory. These theories will construct views as to how and why the seven crimes are committed using the concepts within the theories.…
Over the course of the late 80’s and early 90’s, Jordan Belfort was able to swindle millions of dollars out of his clients and into his own pockets. This, however, did not last long, as the U.S. Securities and Exchange Commission and FBI was looming over Belfort and his company, waiting to strike and rightfully charge him for his crimes. One of the first…
Crime Control Name: Institution Affiliation: Date: Crime Control How Emotivism Can Be Used To Understand the Perspective of All Parties except the Student If the practice is approved, emotivism can be used to understand the point of view of all the parties that include the police and the prostitutes. Emotivism notes that moral utterances lack the truth value and only expresses the feelings and emotional worth of the person talking. It, thus, can be used to understand the perspective of the police because they disregard moral in reaching the decisions they react at. For example, they failed to stop and question the women prostitutes.…
In December 2008, Bernard "Bernie" L. Madoff owner of Bernard L. Madoff Investment Securities LLC wasarrested for committing a $50 billion investment fraud, which later was found to be $65 billion (Bernard L. Madoff. February 9, 2009).Bernard Madoff 's business was an investing firm that pulled off a massive fraud. His firm took money from several people, rich or poor, it did not matter. His victims were Jewish philanthropists from the Upper East Side of New York, almost half the members of the Palm Beach Country Club, retired accountants living in Florida, film stars and several charitable organizations(Ahamed, L. 2011, May 14). In court 33 years old, Michael Swartz of New Jersey said, "I hope his sentence is long enough so his jail cell…