Martha Stewart White Collar Crime Analysis

In a looking glass of a sociologist, we can see white collar crime in our everyday world. When it presents itself; the victims are left hurt and the rest in awe of their awful actions. White Collar Crime is defined as “White collar crime overlaps with corporate crime because the opportunity for fraud, bribery, insider trading, embezzlement, computer crime, and forgery is more available to white-collar employees.” stated by James Henslin. White Collar Crime can be seen in the Libor Scandal, as a prime example.

White-collar crimes are just as prevalent today as ordinary street crimes. Studies show that criminal acts committed by white-collar criminals continue to increase due to unforeseen opportunities presented in the corporate world, but these crimes are often overlooked or minimally publicized in reference to criminal acts on the street. Many street crimes are viewed as unnecessary, horrendous crimes because they are committed by lower class citizens, whereas white collar crimes are illegal acts committed by seemingly respectable people whose occupational roles are considered successful and often admired by many (Piquero, 2014). These views often allow white collar crimes to “slip through the cracks” and carry lesser charges or punishment.

Most everyone goes home after a long day of work and watches the news. Think, what is usually reported? The weather, local activities, headline news, or daily criminal activity. Shootings, stabbings, homicides, etc. are all discussed by media anchors these days. This causes most everyone in our society to become familiar with crimes that are considered street crimes. What most people don’t hear about on the news is what is considered white-collar crime, sometimes known as corporate crime. White-collar crime not only is less reported in the media but also receives weaker punishments than street crime. This paper will first discuss the similarities between the two types of crime and then explain why their punishments are strongly

December 11th, 2008 started out like an average work day for Eleanor Squillari, secretary for Mr. Bernie Madoff, at Bernard L. Madoff Investment Securities. After reaching her desk she received a call from Ruth Madoff, who sounded rather lifeless instead of her usually upbeat self. Ruth was inquiring whether her sons had made it into the office; Eleanor informed her that they hadn’t, while in the back of her mind she kept thinking about Ruth’s strange voice. However, she didn’t question it but continued her day, going on her regular rounds. As she descended to floor 18 she observed that the conference room was full of serious men is suits, all surrounding Peter Madoff, Bernie’s bother. “Strange,” she noted, along with why Bernie still hadn’t shown up. She was interrupted by a big man in a trench coat walking in her direction, but she questioned him first. He responded by flashing his badge and yelling “F.B.I!” “What’s happening? Was someone kidnapped? ” she didn’t know where to start, but her confusion was resolved when Peter 's secretary walked over. Looking stunned, she said "They 're saying that Bernie was arrested for fraud." “No, that’s not true!” Eleanor replied, but Peter walked by and reaffirmed it. She was shocked; for twenty years she never noticed anything about the international White Collar crime that was run right under her nose (Seal, Squillari).

In this chapters controversial issue, the author looks at if white-collar criminals are under prosecuted. Across the United States there a number of crimes that are committed which are considered white collar. One example is when Bernard Madoff defrauded investors of 50 billion dollars in the largest Ponzi Scheme that has ever happened in American History. Another example is the John Rigas and his son were convicted of fraud when they used millions of corporate dollars for personal use. The term white-collar is used when a person of higher economic status commits a crime. However, the public remains relatively indifferent to white-collar crimes. There are allegations that white-collar crimes are under prosecuted. At the local level, offices

Most people, when they hear the word “crime,” think about street crime or violent crime such as murder, rape, theft, or drugs. However, there is another type of crime that has cost people their life savings, investors’ billions of dollars, and has had significant impacts of multiple lives; it is called white collar crime. The Federal Bureau of Investigation defines white collar crime as

White-collar crime is defined as the financial motivations of non-violent crimes that are committed by professionals of business and those of the government. In the field of criminology, Edwin Suthelan (1939), a socialist who was the first person to define white-collar crime as a crime that respectable and those people of higher social status commit. The crimes include those associated with fraud, bribery, embezzlement, cybercrime, money laundering, theft of the identity and many more crimes that are nonviolent. For the white collar crimes, the offenses committed should produce some gains financially. The crimes are thereby committed by those persons holding various positions in businesses or organizations, and it is because of this position they can gain access to amounts of huge money that they get from the people like customers with whom they serve. The criminals involved are not caught in activities that are violent, involved in drug issues or illegal activities.

In 1939, American sociologist Edwin Sutherland introduced the phrase “white-collar crime”. White-collar crime is a nonviolent crime committed by a business or large corporations. They are usually scams or frauds to gain wealth in society. The people who are guilty of this crime lie, cheat and steal from investors of their company or business. Even though these crimes are non-violent, they have major impacts on the society. Their companies become non existent and families get destroyed. All of their life savings and savings for their children get taken away, and they become bankrupt. Not only does it affect their families, the investors who believed in their business lose millions or even billions of dollars.

According to Copes & Vieraits(2009), White collar criminals of the corporate world are perpetrators. They are respectable and elite members of society who commit “illegal and harmful crimes.” This is motivated by the goal of economic gain and occupational success. While committing crimes, they use their position to fraudulently obtain money and evade prosecution.

White collar crime corrodes the values and ethics in which people have in a society and it exists in many shapes and forms. The four categories consists of corruption, fraud, theft and manipulation and is considered to be an illegal act that is committed by non-physical means in order to obtain money or property for a business or personally. Fraudsters of white collar crimes range from any age group, income level and employment tenure. (Liew, Puah, Entebang 2011)

Welcome to the age of white collar crime. A time when the words thieves and businessmen go hand in hand. White collar criminals don't get their hands dirty in their work. They use their heads to get what they want instead of using a little muscle. These criminals are just as dangerous as the rapists and murderers. In these times, even the most seemingly respectable people are suspected of white collar crimes. President Clinton and the first lady Hillary Clinton have been tangled up in the Whitewater and Travelgate business ventures. Although the two have not been formally charged with any wrongdoing, there is a committee currently investigating their dealings and charges are not out of the question for either of them. In Michael Isikoff's

Another theory is that of learning theory which suggests that criminal behavior and, therefore, white-collar crime is learned through those who legitimize these acts. However, our society as a whole has traditionally condemned the concept of illegal acts, including white-collar crime. Why and, more importantly, how does the voice of a few

For misconduct, crime, and criminalization in particular as it relates to white collar crime, there are the three main issues that must be addressed to show valid theory. The first is criminality. The criminality of white collar crime is the focus on an individual or organization’s motivation the situation that stimuluses and leads to the act of a white collar crimes. The theory is imparts the reason that makes a person commit a white collar crime. The second issue white collar crime theory must address is the explanation of a crime. In the case of white collar crime the situational factors play a much bigger role and most situations are not the same. When it comes down to this level of analyzing a white collar crime. Some of the factors

White Collar Crime by Edwin Sutherland, published in 1949, is a study in the theory of criminal behaviour. Sutherland states that this book is an attempt to reform the theory of criminal behaviour only, not to reform anything else. And although it may include implications for social reforms, this is not the objective of the book. Sutherland define white collar crime as ‘a crime committed by a person of respectability and high social status in the course of his occupation’ (pp. 9). He adds that it excludes many crimes of the upper class, such as murder, intoxication, and adultery, because these are not usually part of their occupational procedures. He goes on to describe white collar crime as being similar to juvenile delinquency in the sense of the stigma generated from each crime. In both of these crimes the procedures of criminal law are altered so as not to attach stigma to the offenders. Finally, Sutherland writes that crimes are committed across all social classes, not just people in lower classes or living in poverty, contrary to popular belief at the time of publication.

Quinney (1964), “Because the validity of white collar crime as a form of crime has been a subject of severe controversy, the question of conceptual clarity has largely been ignored. Today, as a result, the meaning of the concept is not always clear” (p208).