The History of Corporate

The History of Corporate - o Traditional Criminal Law o...

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T HE H ISTORY OF C ORPORATE , O RGANIZATIONAL , AND O CCUPATIONAL C RIME A long history exists in the U.S. Typology of White Collar Crime (Edelhertz): 1. Crimes by persons operating on an individual ad hoc basis. Income Tax Violations Credit Card Fraud Bankruptcy Fraud 2. Crimes committed in the course of employment, in violation of their duty of loyalty and fidelity to employers or clients. Embezzlement Employee Larceny Payroll Padding 3. Crimes incidental to, and in furtherance of, business operations, but not central to its purpose. Antitrust Violations Commercial Bribery Food and Drug Violations 4. White collar crime as a business, or as the central activity. This is covered in this text under the label “professional crime.” Advance Fee Swindles Phony Contests L EGAL R EGULATION Many professions largely self-regulate. Occupational crime may be controlled by: o Professional Associations
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Unformatted text preview: o Traditional Criminal Law o Civil Law o Administrative Law Corporations have been considered legal persons since a Supreme Court decision of 1886. The Sherman Antitrust Act (1890): Forbids restraint of trade and the formation of monopolies; makes price fixing a felony. Regulatory agencies can enforce sanctions: o Warnings o Recalls o Orders o Injunctions o Monetary Penalties o Criminal Penalties Lawsuits by harmed parties also used. Criticisms of Regulatory Agencies: 1. Reliance on records from organization being regulated. 2. Fines are too small. 3. Criminal penalties rarely used. 4. Understaffing. 5. Agency commissions often include individuals from organizations to be regulated. 6. Some regulatory agency employees have an interest in representing the interests of the corporations....
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The History of Corporate - o Traditional Criminal Law o...

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