What Is The White Collar Crime Criminology

Essay add: 6-01-2017, 12:25   /   Views: 27

White collar criminals are usually "well respected in their communities and take part in national affairs" (Stanislav, 2012). Martha Stewart is known for making people homes more stylish place to live, but she is also known because she was convicted of trying to sell the stocks she had in a company that made drugs, Stewart was told by Dr. Sam, he promised a drug that could cure cancer, that the Food and Drug Administration was not going to approve his company's experimental cancer drug, Erbitux. After report came saying that the experimental drug was denied the value of the stock dropped dramatically and Stewart sold her shares the day before the prices dropped. This made the FBI look into why she did it and discovered that Dr. Sam told Stewart that the drug was denied by the Food and Drug Administration, this is what made her sell all of her stocks before the price drop. She was convicted because what she did is known as insider trading and it is a type of white collar crime. Martha Stewart may had not known about insider trading was going to land her a spot in jail. The term insider trading refers to:

Transactions in a company's securities, such as stocks or options, by corporate insiders or their associates based on information originating within the firm that would, once publicly disclosed, affect the prices of such securities Famous examples of insider trading include transacting on the advance knowledge of a company's discovery of a rich mineral ore (Securities and Exchange Commission v. Texas Gulf Sulphur Co.), on a forthcoming cut in dividends by the board of directors (Cady, Roberts & Co.), and on an unanticipated increase in corporate expenses (Diamond v. Oreamuno). Although insider trading typically yields significant profits, these transactions are still risky. Much trading by insiders, though, is due to their need for cash or to balance their portfolios. The above definition of insider trading excludes transactions in a company's securities made on nonpublic "outside" information, such as the knowledge of forthcoming market-wide or industry developments or of competitors' strategies and products. Such trading on information originating outside the company is generally not covered by insider trading regulation. (Stanislav Dolgopolov)

White-collar offenses range from a variety of offences that include: bank fraud, computer and internet fraud, credit card fraud, insurance fraud, mail fraud, tax evasion, bad checks, counterfeiting, forgery scheme, money laundering, racketeering, embezzlement, government fraud, trade secret theft. (Legal Information Institute)This are just a few of the things that white collar crimes covers, according to the estimates that the Federal Bureau of Investigation has investigated during the years white-collar crime costs the United States more than $400 billion yearly. Here is the class A list of things that are classified as white collar crime according to National Incident -Based Reporting System, this is a report that the FBI comes up every year.Criminal Behavior NIBRS Offense Category

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