Library: Legal Environment of Business: White Collar Crimes

Fraud related crimes

Consumer fraud among the elderly
The article concluded that the elderly are the most victimized people because they rely on specific media to be educated about consumer fraud, and they are in the minority for using those specific media. If they want to be more educated about fraud prevention, they must diversify their media outlets.

Bribery / Foreign Corrupt Practices Act

Swiss authorities arrest Hawit, Napout in FIFA corruption case in Zurich
This article revolves around the recent arrests of two formally highly ranked FIFA vice presidents, Alfredo Hawit and Juan Angel Napout, in the already infamous, ongoing FIFA corruption case.
Tackling bribery and corruption.
The head of the fraud and investigations group at Eversheds gives an overview of a report on the role of board members in reducing bribery.
The Effect of the OECD Convention in Reducing Bribery in International Business.

Racketeering

Wells Fargo Lawsuit
Racketeering is charging for a service which solves a problem that wouldn't exist without the enterprise offering the service. The article covers a case that took place in October covering Wells Fargo accusing them of racketeering by overcharging homeowners for appraisals ordered after they defaulted on loans thus exploiting those who already could not afford it from the start.
Congressman accused of misusing hundreds of thousands of dollars in taxpayer, charity, and campaign funds
On Tuesday June 21, 2016, a federal jury in Philadelphia convicted Congressman Chaka Fattah of racketeering conspiracy charges.

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Bank fraud and embezzlement

White Collar Crime

"T Markus Funk Sketch with Frank Calabrese" by Amosgalils - Own work. Licensed under CC BY-SA 3.0 via Wikimedia Commons.

The Fraudster Who Faked His Own Death

When a federal judge recently sentenced Aubrey Lee Price to 30 years in prison for bank fraud, embezzlement, and other crimes, it closed a chapter on the once successful businessman’s sensational criminal saga. [read more]

Michigan Psychotherapy Clinic Owner Sentenced to 87 Months in Prison for his Role in $3.3 Million Medicare Fraud Scheme

Gerald R. Funderburg Jr., 35, of Syracuse, New York, was sentenced by U.S. District Judge Stephen J. Murphy III in the Eastern District of Michigan. In addition to his prison term, Funderburg was ordered to pay $1,453,064.59 in restitution. [read more]

Oklahoma Pastor Embezzlement

In January 2015, Jones, a pastor of a church in Oklahoma, was sentenced to time in jail for embezzling nearly one million dollars. Jones started to raise money to build a community center to help the poor neighborhoods, but in reality, he was using the funds raised for himself.

White Collar Crime Overview

The phrase "white-collar crime" was coined in 1939 during a speech given by Edwin Sutherland to the American Sociological Society. Sutherland defined the term as "crime committed by a person of respectability and high social status in the course of his occupation." [read more]

What we investigate - An overview of white collar crime by the FBI, including falsifying financial information, corporate insider trading, and fraud of hedge funds.

White collar crime at Enron - charges of fraud, insider trading, and conspiracy

Misdemeanor vs. felony

Bernie Madoff Ponzi scheme.
On December 11, 2008, Bernie Madoff was arrested and charged with eleven felony counts, including securities fraud, wire fraud, money laundering, and perjury.
Nonserious Marijuana Offenses and Noncitizens: Uncounseled Pleas and Disproportionate Consequences
Marijuana is classified as a controlled substance and the Federal Bureau of Investigation estimates that “the police arrest someone for possession of marijuana every forty-eight seconds." With this type of criminal activity occurring at such a high rate, there is bound to be a lot of varying end results for the classified penalty.