Chapters 7 & 8.docx - Chelsea Lewis LGLS – Business...

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Chelsea Lewis LGLS – Business October 30, 2018 Chapter 7: Business Crimes Generally, an individual can engage in any activity they wish unless there is a law prohibiting those actions. Crimes are determined by the legislature; the police or district attorney file the charges. Business Crimes – usually do not involve violence but are associated with unethical activities, fraud and financial theft. Bernie Madoff – an example of a business crime; had a $465 billion Ponzi scheme in which he sought investments for wealthy people but would actually pocket the money. - Types of Crimes ( costing businesses billions of dollars annually ): o Robbery – ( penalty ranges from 7 to 20 years ) defined as theft plus force or the threat of force. In Pennsylvania, a person is guilty of robbery if, in the course of committing a theft, he physically takes or removes property from the person of another by force no matter how slight it is. o Burglary – ( max. penalty is up to 20 years ) an entry into a building or occupied structure with the intent to commit a crime, the crime doesn’t actually have to be committed. o Larceny (theft) – taking and carrying away the property of another (refers to possession, who had the superior right of good, not ownership) without consent and with the intent of depriving the other of the goods permanently. o Retail Theft /Shoplifting – the penalty will depend on the value of what is taken) o Embezzlement/Employee Theft – occurs when someone takes property entrusted to him or her with the intent the deprive the owner of the property. An embezzler is lawfully in trusted with the property as opposed to a thief who improperly obtains possession, has no right to the goods. o Criminal Trespass (max. penalty is up to 2 years and/or a fine of not less than $500 nor more than $5,000) it occurs when a person enters the land of another without permission or with no legal right to be there. o Electronic Fencing – the crime occurs when one uses the Internet to sell property gained through unlawful means.
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