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White-Collar Crime.

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Presentation on theme: "White-Collar Crime."— Presentation transcript:

1 White-Collar Crime

2 The Concept of White-Collar Crime
Term white-collar crime was coined in the 1930’s By Edwin Sutherland Defined as “crime committed by a person of respectability and high social status in the course of his occupation.”

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

4 Difference in White Collar Crime?
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

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?

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.

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 hasn’t 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

8 Law Enforcement Response to Corporate Crime
The Sarbanes-Oxley Act requires company CEO’s 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.

9 Summary Take a look at Globalcorp
Pick a White Collar Crime to learn about

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 Many More With a partner pick a white collar crime, research and create a brochure to teach others about it.


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