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…
As we have learned, white collar crime can be difficult to precisely define and a wide variety of definitions have been looked at in the process. While there is no consensus on one definition, there is agreement among criminologists on the following being indicative of white collar crime including the occurrence of which is in a legitimate context, motivation that is derived from economic gain or occupational success, and a lack of direct, intentional violence (Friedrichs, pg 5). Trust and respectability are also very important terms in relation to white collar crimes that we do not see with conventional crime. An important sociologist, Edwin Sutherland pointed to the violation of trust as an important element of white collar crime and characterized…
After researching this case, I believe there may have been a potential corporate crime occurring. According to Clinard and Quinney, “Corporate crime are offenses committed by corporate officials for their corporation and the offenses of the corporation itself” (Friedrichs, p. 60). Corporate crime has gone unpunished because for a large amount of time crimes that are labelled corporate crime were not illegal, such as unsafe environmental practices, and in this case, corporate violence against consumers in the shape of unsafe products. Immediately after the hoverboards began to be sold, problems began to arise in regards to fires. There were numerous companies that were producing these boards will all similar designs.…
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…
In conclusion although there are multiple federal and state agencies currently investigating Wells Fargo for their acts of fraud, from Congressional hearings, to the securities and exchange commission (SEC), and the federal bureau of investigation (FBI) just to name a few, it still does not address that root cause of why these acts of large scale white-collar crime persist, much less there is no real discussion as to what measures can be employed to prevent these acts from happening in the future. Some people would say that there must be mandatory sentencing for violators of white-collar crime where plea bargaining is essentially removed as an option of getting out of prison, and truth be told there is some validity to this argument since…
This is a long and grueling process, which may not show signs of reform for a long time. As for right now, the story of how rapidly Whitey Bulger came to power and how badly he destructed anyone in his path displays the disorder within the informant system and gives reason for why we shouldn’t trust the FBI’s current policy on…
White collar suspects will know they are being investigated weeks, or even months prior to their arrest. Typically a white collar crime investigation runs a common course but can last a long time. Also, a criminal process for allegations in a state (crime) of white collar crime can become federal and this will allow it to go on for a longer period of time. Most white collar crimes are prosecuted by government prosecutors that work for a prosecutor's office. The prosecutor's office is responsible for seeking justice in its jurisdiction.…
The life course theory can help assist criminologist in identify why criminal commit money laundering by applying concepts such as the dynamic theories to the sequential order in which predicate crimes are committed. Wachovia bank located in North Carolina recently admitted in a court of law to their involvement in the assistance of laundering billions of dollars for the Mexican cartel. This all be gain when the Wachovia bank failed to comply with the Bank Secrecy Act and accepted $378.4 billion dollars in illicit funds from the Mexican cartel which was initial acquired through drug smuggling. For 2004 to 2007, Wachovia bank continued to exchange pesos to American dollars and transfer funds into banking accounts own by small businesses. These…
If you are charged with a crime, you need to understand the different levels of offense that you can be charged with. This will help you determine what you should plea when you appear in court, and what the consequences will be of pleading guilty or accepting a plea deal. The Worst Kind: Felonies The most serious type of crime that you can be charged with is a felony. Felonies can be brought against you at both the state and federal level.…
Drugs, money, and girls are starting to become the trend in Hollywood. With huge hits such as The Wolf of Wall Street with the highly talented Leonardo DiCaprio as the notorious Jordan Belfort. The wolf of Wall Street can be used as a visual to show the different topics we talked about in class. This movie is based off of Jordan Belfort a white collar criminal on the streets of long island. There are many instances where what we discussed in lecture/discussion.…
1. What are the two types of white-collar crimes? The two types of white-collar crimes are occupational and corporate.…
Organized has been threatening the safety of Americans for decades now and its seems whenever we get ahead organized crime just seems to creep its way back up. America has tolerated organized crime for years as well. This is because America has been ignoring it, we focus on other crimes. One case of assault can deliver a more maintained uproar than does the everyday unlawful profiteering of organized crime. This article by Henry S. Ruth showcases some of the factors that play a role in organized crime as being a step ahead.…
Corporate crimes, also known as white collar crimes, are usually disregarded or never attended to because of various reasons. Many laws regarding health and safety regulations were not made illegal until the twentieth century, and were not considered a criminal matter. In some cases, the media was controlled by corporations who were, in fact, violators themselves. This led to corporate crimes not receiving enough publicity. From the officials point of view it is much easier to worry about crimes of the lower-class people that lack political power…
White Collar Crime is defined as a non violent crime which is committed by respectable individuals in the society. In general, an individual working in government associations such as banks or private sectors such as software companies carries out this type of crime. This is mostly committed by a person having high social status, such as doctors, engineers, and attorneys mainly for financial gain. Some of the White collar crimes include embezzlement, bribery, forgery, tax fraud, and infringement.…
A crime within the business or corporate world, and within the government by someone that has a high social status has always been known as the basic, white-collar crime (Humphrey & Schmalleger, 2012). Now white-collar crime has taken on a bit more of a defined definition due to a vast variety in the types of crimes and criminals involved. As Herbert Edelhertz put it, now white-collar crime does not necessary mean someone of high status or responsibility was the offender; in general, anyone that hurts the business or government by means of theft from the establishment is considered part of this group. This could be the concealment or non-physical means to steal money, trying to keep from repaying money, or in order to make personal advantage…