Sylvie Shene - Articles - White Collar Crimes

View this website in:

Português/Portuguese

Español/Spanish

ARTICLES: WHITE COLLAR CRIMES

Children who have been well-behaved, obedient, submissive and compliant are more likely to become more manipulative, deceitful and white-collar criminals in adult life. White-collar crimes cost more money to society than all other types of crimes and rarely are punished.

Embezzlement is an offense in which an employee fraudulently converts some of the employer’s funds for personal use through altering company records. Embezzlers who take large sums of money are usually thought to be respectable citizens and trusted employees. They are often motivated by financial problems that their regular income cannot handle, such as gambling debts, addictions, and financial demands of a lover or spouse.

White collar crimes are more costly than all other types of crimes. At $3.4 billion, Charles Keating’s Lincoln Saving and Loan was the most costly savings and loan failure in U.S. history. Keating was convicted of fraudulently marketing junk bonds to tens of thousands customers and arranging sham real estate transactions to inflate Lincoln’s profits. He served 5 years of 12 and 1/2 years sentence, only to have his convictions tossed out on legal technicalities.

Embezzlement occurs at all levels of business, from a clerk stealing from petty cash to the president of a company stealing large investment sums. Many cases go undetected or unprosecuted.

Home About Me Thoughts Poems Articles Donations Links

Website Design and Maintenance by Arizona Web Group