Essay on White Collar Crimes Are Often Non Violent Crimes

2079 Words Nov 10th, 2016 9 Pages
White-Collar crimes are usually non-violent crimes which occur in corporate structured organizations. In the words of Edwin Sutherland, a crime committed by a person in a high status position and respectability in the course of their profession or occupation (Brody and Kent 2010). Financial fraud, embezzlement, insider trading, identity theft, and forgery are a few examples of crimes of a corporate nature. A white-collar crime described as “the largest Ponzi-type scheme in Canadian history” (Ewart 2015) by Gary Sorenson, 71, and Milowe Brost, 61 took place in Calgary Alberta 2015. The pair had allegedly deceived and conned large corporations, by way of taking funds from new investors for various investments in their fictional gold enterprise, and paying these to old investors, rather than legitimate profit. They had cunningly convinced the investors a guaranteed profit of 34% on a $99,000 investment, and as an outcome embezzled about $400 million dollars from over 2,000 investors (Ewart 2015). It can be presumed that factors such as power, money, and opportunity of crime play a major role in the incentive for an individual to commit a crime. Therefore, greed can be viewed as the ultimate Machiavellian aspect that triggers these corporate and white-collar crimes.
Throughout this paper, the relevancy of this case is notable as it contributes to my research on the topic of Financial fraud. Sorenson and Brost had been committing this financial fraud for years of time,…

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