Martha Stewart Home Living By Levenson
Characteristics of White Collar Crime
White collar crime can be found in any type of business industry, job occupation and profession. This type of crime comes in many styles and forms. Although there are many styles and forms of white collar crime, they all share the same characteristics. First, they involve the use of dishonesty and concealment, rather than the use of force or violence, for the unlawful gain of money, property, or services (Levenson, 2014). Another point that was brought out by Levenson in her article was that white-collar crimes typically involve abuse of positions of trust and power. These officials solicit and accept bribes and fix prices to drive the competitors out of business and then abuse their positions in turn. …show more content…
In 2001 she began her representation for a corrupt financial system. She was invited to join NYSE’s 27 member board of directors. On December 27, 2001, she became engaged in the ImClone insider trading issue when her friend Sam Waksal informed her that his company ImClone’s cancer drug was rejected by the FDA. She had her broker sell her 4,000 shares valuing $230, before the news hit and later found guilty of insider trading. According to the Daniel Fund Ethics Initiative at the University of New Mexico, the charges of securities fraud against Stewart were dropped but she served five months in prison and five months on house arrest for four counts of obstruction of justice and lying to investigators (Brunet, …show more content…
Since the term was created in 1949 by the American Criminologist, Edwin Sutherland, crimes have tended to be the limited domain of these different groups. Social and technological changes have made white-collar crime openings more obtainable to a broader range of people than ever before. The most common white-collar offenses include: antitrust violations, computer and internet fraud, credit card fraud, phone and telemarketing fraud, bankruptcy fraud, healthcare fraud, environmental law violations, insurance fraud, mail fraud, government fraud, tax evasion, financial fraud, securities fraud, insider trading, bribery, kickbacks, counterfeiting, public corruption, money laundering, embezzlement, economic espionage and trade secret theft (Legal Information Institute, 2015). The essential changes include a growth in white-collar– type jobs, the progress in state largesse, an rise in trust relationships, economic globalization, the revolution in financial services, and the rise of the Internet as a means of communication and business (Miller, 2009). Many white-collar crimes are especially difficult to prosecute because the perpetrators use sophisticated means to conceal their activities through a series of complex transactions. According to the Federal Bureau of Investigation, white-collar crime is estimated to cost the United States more than
White collar crime can be found in any type of business industry, job occupation and profession. This type of crime comes in many styles and forms. Although there are many styles and forms of white collar crime, they all share the same characteristics. First, they involve the use of dishonesty and concealment, rather than the use of force or violence, for the unlawful gain of money, property, or services (Levenson, 2014). Another point that was brought out by Levenson in her article was that white-collar crimes typically involve abuse of positions of trust and power. These officials solicit and accept bribes and fix prices to drive the competitors out of business and then abuse their positions in turn. …show more content…
In 2001 she began her representation for a corrupt financial system. She was invited to join NYSE’s 27 member board of directors. On December 27, 2001, she became engaged in the ImClone insider trading issue when her friend Sam Waksal informed her that his company ImClone’s cancer drug was rejected by the FDA. She had her broker sell her 4,000 shares valuing $230, before the news hit and later found guilty of insider trading. According to the Daniel Fund Ethics Initiative at the University of New Mexico, the charges of securities fraud against Stewart were dropped but she served five months in prison and five months on house arrest for four counts of obstruction of justice and lying to investigators (Brunet, …show more content…
Since the term was created in 1949 by the American Criminologist, Edwin Sutherland, crimes have tended to be the limited domain of these different groups. Social and technological changes have made white-collar crime openings more obtainable to a broader range of people than ever before. The most common white-collar offenses include: antitrust violations, computer and internet fraud, credit card fraud, phone and telemarketing fraud, bankruptcy fraud, healthcare fraud, environmental law violations, insurance fraud, mail fraud, government fraud, tax evasion, financial fraud, securities fraud, insider trading, bribery, kickbacks, counterfeiting, public corruption, money laundering, embezzlement, economic espionage and trade secret theft (Legal Information Institute, 2015). The essential changes include a growth in white-collar– type jobs, the progress in state largesse, an rise in trust relationships, economic globalization, the revolution in financial services, and the rise of the Internet as a means of communication and business (Miller, 2009). Many white-collar crimes are especially difficult to prosecute because the perpetrators use sophisticated means to conceal their activities through a series of complex transactions. According to the Federal Bureau of Investigation, white-collar crime is estimated to cost the United States more than