Corporate Crime in America

             With the latest string of corporate crime "busts," we are realizing
             more and more that wearing a suit and tie to work does not exempt one from
             criminal action. Corporate crime, though not violent in nature, is
             incredibly harmful with regards to society. Chief executive officers in
             companies such as Enron, Worldcom, and Tyco cheated their employees and
             investors out of millions of dollars (Puscas 2003). Much of that money was
             earmarked for pension benefits, retirement plans, and medical insurance for
             the company's workforce. Corporate crime can also be detrimental to the
             economy in that it reduces confidence in the stock market and other related
             There are two reasons why corporate crime is so prevalent (at least
             recently). Firstly, because those committing corporate crimes think they
             can get away with it, and secondly, because they believe that punishments
             for the crimes will be minimal. In order to fight corporate crime, we need
             to address these two prevailing notions.
             The first issue to address is criminal prosecution. It is often the
             case that prosecuters assigned to a case involving white collar crime will
             be reluctant to push the case as far as one involving drugs or violence.
             The reality is that corporate crime, at least in the past, was a low
             priority for District Attorneys. It was easier to justify sending someone
             to jail who had murdered another individual, then someone who falsified
             White collar crimes are defined as nonviolent crimes committed in
             commercial situations by individuals, groups, or corporations for financial
             gain. They include but are not limited to the following types of fraud:
             antitrust fraud, bankruptcy fraud, bribery, computer fraud, credit card
             fraud, counterfeiting, embezzlement, environmental fraud, financial fraud,
             government fraud, identity fraud, insider trading, insurance fraud,
             kickbacks, mail fraud, and trade secret ...

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