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Criminal’s actions violated a criminal statuteThe defendant actually committed the act, didn’t just thinkabout it, taking a step towards it counts tooActus reus- guilty act, must be voluntary and must be anact of commission rather than omission usuallyThe defendant intended to violate the law, must have a“guilty mind,” Intent element- normally do not throw peoplein jail when they did not intend to do something bad, or arejust negligent
How do you define intent?
oCorporations can be held criminally liable for any acts performed by an employee if that employee is acting within the scope of his/her authority for the purpose of benefitting the corporation oInsider Trading:trading on secret information when you’re not supposed to, 20 years in jail, $10 million fine, it is unlawful to use or employ in connection with the purchase/sale of any security any manipulative or deceptive device in contravention of such rules as the SEC may prescribeHave to prove 5 things:1.Defendant bought/sold securities (stock)2.They knew they were doing something wrong, with intent (scienter)3.Did purchase on basis of4.aterial, non public information