Midterm Review Flashcards
1
Q
City of Bell Scandal
Robert Rizzo
A
- Being adjudicated
- city manager, convicted
- LA working class community, where compensation for officials was simply off the charts by any standard
- initially tried to convince folks that those insane compensation packages were actually justified
2
Q
Frontline financial crisis video:
How hard is it to prosecute people criminally for white collar crime? Was anyone criminally prosecuted?
A
NO.
3
Q
Bakker, Jim
A
- Religious fraud
- televised and asked people to donate, misused money
- Assemblies of God minister, sex scandal
- The PTL Club-Praise the Lord and the Pass the Loot: Embezzlement ministry, money being used elsewhere, boathouse, bills, sexual misconduct (secretary received hush money $115,000)
- IRS threaten to stop tax break due to the pay the Bakkers were receiving
- CONVICTED in federal court, 45 year prison term
4
Q
Black, William
A
- criminologist
- UCI PH.D student, involved in Savings and Loans
- developed concept of “control fraud”
- exposing Congressional corruption during the Savings and Loan Crisis
- called the “economic structure of corporate law” a myth which insist that only honest companies can pass the inspection of experienced external auditors
- San Francisco bank regulator
5
Q
Boesky, Ivan
A
- financial fraud
- American stock trader who is notable for his prominent role in a Wall Street insider trading scandal in the mid 1980’s
- insider trading: when they act upon information the is not publicly known
- received a PRISON SENTENCE and was fined
6
Q
Braithwaite, John
A
- criminologist (student of Sutherland), trust fraud
- wanted to focus on the wealth; the elite members
(WCC would lose value if high status is removed. It would dilute what was intended to studying crimes as powerful) - claims most important aspects of term is that is can lead to the study of specific acts by which to inform theory
7
Q
Clinard and Quinney
A
- criminologist
- examined criminal, civil, and administrative actions (including administrative violations, financial violations, labor violations, and manufacturing violations)
- found that three-fifths of the 477 manufacturers had at least one action initiated against them in the two-year period under consideration
- replace WCC definition with corporate vs. occupational crime
- Corporate crime: benefit an individual
- Occupational crime: benefit individual and corporate
8
Q
Coleman, James
A
- criminologist
- Found 3 flaws in Sutherland’s definition
- —-> responsibility for some WCC can be attributed only to a group and not individual members
- —-> financial crimes that aren’t a part of occupation should be included
- —-> broadened def to include WCC committed by middle levels of status heirarchy
- New definition: WCC is a violation of law committed by a person or group of persons in the course of an otherwise respected and legitimate occupation or financial activity
- cultural competition: the desire to compete and be successful drives people to lie and cheat
- Criminal behavior requires 2 basic elements
- —–> motivations and opportunity
9
Q
Cressey, Donald
A
- classic study of embezzlers
- Three distinct causal elements need to come together
- —-> Non-shareable financial problem
- —-> Opportunity and knowledge to commit the crime
- —-> Ability to apply a suitable rationalization to “adjust the contradiction” between their behavior and society’s definition of the situation as well as their own self-image
10
Q
Falwell, Jerry
A
- religious fraud
- former ally of Jim Bakker
- contributions solicited on Falwell’s cable TV system
11
Q
Geis, Gilbert
A
- criminologist (UCI Professor)
- General Electrics conspiracy - price fixing
- —-> Price fixing: standard price for certain product
- —-> Finds out bc investor kept bidding same money
- contended that society will not view corporate crime in the same light as other crimes until white-collar criminals are punished the same as other criminals
- Crimes of organizations are qualitatively different from those of individual offenders
12
Q
Jesilow, Paul
A
- criminologist
- did a study and found that big autoshops usually rip people off compared to small autoshops
- women were the most vulnerable
13
Q
Lebed, Jonathan
A
- teenage stock frauder (15 yrs old)
- bought blocks of cheap microcap stocks then pumping them on the internet using financial message boards and hundreds of phony names
- SETTLED case at $285,000
- charged with illegal stock dealing, mislead investors into falso stocks via misleading emails/labels
14
Q
Le Blanc, Dudley
A
- Louisiana politician, toxics mixed in barrel behind his barn
- quackery: sells products that claim to make people better
- claimed that Hadacol could relieve an implausible range of ailments
15
Q
Milken, Michael
A
- securities fraud and junk bond guru
- oversold billions of dollars worth of high-risk securities to banks, insurance companies, and other financial insitutions
- CONVICTED following a guilty plea on felony charges for violating security
16
Q
Minkow, Barry
A
- financial fraud
- 16-yr-old LA high school student
- borrowed money to start Carpet Cleaning Business (ZZZZ Best)
- broke own property and lied about being robbed
- CONVICTED and now a pastor
17
Q
Moon, Sun Myung
A
- religious fraud
- leader of Unification Church
- he violated the US tax, immigration, banking, currency, and foreign-agent registration laws, and state and local laws on charity fraud
- SERVED 11 MONTHS in federal prison
18
Q
Morgan, J.P
A
- conducted Enron style energy market manipulation
- falsely inflate electricity prices which drove up energy prices
19
Q
Needleman and Needleman
A
- criminologist
- crime facilitative vs crime coercive environments based on moral tone/tone at the top
- crime facilitative: members aren’t forced to break the law, but are presented with tempting opportunities
- crime coercive: the system is encouraging you to break the law
