Business Crime

 Corporate Crime Essay

In accordance to Webster's Dictionary (1996) the definition of white collar is of or relating to staff whose jobs usually does not involve manual labor. White scruff of the neck crime is normally defined as virtually any illegal crime that is fully commited in business or perhaps professional establishing with the objective of obtaining personal financial gain (whitecollarcrimefyi. com).

The origin with the term white-colored collar is definitely traced back to 1939, to Professor Edwin Sutherland, of Indiana University, Pontell, Rosoff & Tillman (2002). Sutherland defined white colored collar crimes as " crimes fully commited by a person of respectability and large social position in the course of his occupation (Pontell et ing., 2002).

White-colored collar criminal activity are not chaotic, but have the actual to bring about tremendous economic loss for companies, traders, and others impacted by the offender's actions (whitecollarcrimefyi. com). Sutherland concluded that " the economical cost of white colored collar offense is probably a couple of times as superb as the price of all the criminal activity customarily thought to be the ‘crime problem (Pontell et al., 2002).

There are numerous sociological and economic factors that lead to white training collar crime. Accumulation of wealth, competition, desire to have upward flexibility and pursuit of self-interest are a handful of the sociological factors. Economic factors such as poor economy and decrease of income as well contribute to white collar crime as well as criminal offenses in general.

Due to great desire to have the deposition of prosperity, the Ponzi scheme is among the oldest light collar criminal activity committed, and still very effective! The Ponzi System is named following con designer Charles Ponzi, a turn-of-the-century immigrant and former fresh fruit peddler (Pontell et al., 2002). Ponzi schemes will be basically pyramid scams where the person at the top profits coming from enlarging his base or recruiting other folks into the scam. In 1920, Ponzi was arrested, convicted of scam, sentenced to 4 years in national prison, sometime later it was deported. This individual died a pauper in...

Bibliography: Pontell, H. D., Rosoff, H. M., & Tillman Ur. H., (2002), Profit with no honor: White colored collar

crime and the looting of America (2nd Male impotence. ). Top Saddle Water, NJ: Prentice Hall.

(1996). Riverside Webster's II Book New York: Berkley. (2007)