White Collar & Corporate Crime

Question 1

What is White collar crime

Answer 1

Illegal work activities for personal gain

Question 2

Crime may be main purpose of work through

(*hint: all technological)

Answer 2

• cyber-crimes
• identity theft
• illegal pornography
• virus dissemination
• software piracy

Question 3

What crime may be committed by an individual while doing legitimate work:

Answer 3

occupational theft

occupational fraud

Question 4

occupational theft VS occupational fraud

Answer 4

-stealing companies resources vs misusing company’s resources
-both for personal gain

Question 5

Ponzi Schemes

Answer 5

look like real investments

Question 6

Pyramid Schemes

Answer 6

pay for the “right” to recruit others

Question 7

Corporate Crime

Answer 7

Illegal business practices for benefit of a large company or corporation

Question 8

Examples of corporate crime

Answer 8

• misrepresentation in financial statements
• tax fraud
• stock market manipulation
• corporate espionage
• bribing public officials/corruption
• false advertising
• consumer protection violations
• price fixing
• illegal working conditions
• environmental harm

Question 9

Victims of Corporate Crimes

Answer 9

1. The Public
   - Dumping toxic substances
   - Pollution
   - As consumers - Products (false claims, unsafe)
2. Workers
   - Injury, illness, death

Question 10

Green Criminology

Answer 10

Study of environmental damage caused by human activity

Question 11

Looking at
- Illegal disposal of waste
- Wildlife violations
- Illegal extraction of natural resources

Is a part of which criminology and why?

Answer 11

Green Criminology because it studies enviromental damages caused by humans

Question 12

Causes of White Collar Crimes

Answer 12

1. Macro Explanations
2. Micro Explanations

Question 13

Macro Explanations

Answer 13

Conflict Perspective
Laws created by, and benefit, the elite

Question 14

Micro Explanations

Answer 14

-Opportunity
-Decision making: Rational Choice Theory

Question 15

Characteristics of White Collar Criminals (males VS females)

Answer 15

Males – want to advance careers, impress others
Females- financial need

Question 16

What does the film “ Earl Jones: In Trust “ look at ?

Answer 16

Looks at how trusted old white man takes all of his friends and familys invested money to “invest” in something false. Ponzhi scheme

Question 17

Earl Jones 2010 - 2011

Answer 17

Earl Jones gets 11 yrs for $50M Ponzi scheme- February 2010
Jones will be eligible for parole in December 2011.

Bill C-59 (Abolition of Early Parole Act) created -
March 2011
Bill C-59 resulted from public pressure to change the laws that allowed for early parole of many types of offenders. Implication for this case: Earl Jones was previously eligible for day parole on Dec. 16, 2011. His new eligibility date - April 16, 2013.

Rally by Victims of the Earl Jones fraud–
July 2011Victims held public protest rally in Montreal to publicize their concerns they may never see their money. Jones’ victims filed $40 million class action lawsuit vs RBC in 2010, RBC has offered $12.5 million settlement.

Question 18

Earl Jones 2012 - 2013

Answer 18

Earl Jones Victims settle for $17 million from RBC - March 2012 The lawyers’ cut of the proceeds will be 25 per cent, leaving about $12 million for the victims.

Cheques are in mail for fraud victims – Dec 2013Payout of $12.2 million among 125 victims settles class-action suit. The payout is 44.1 cents on the dollar of their actual losses as calculated by the claims adjusters. It has been four years, five months and 11 days since the case began.

Question 19

Earl Jones 2014

Answer 19

Supreme Court strikes down retro application of Abolition of Early Parole Act - March 2014
Rules that the Act can move forward, but cannot apply to inmates who were already serving sentences at time the Act was passed.

Fraudster Earl Jones freed after serving 4 yrs of 11-yr sentence - March 20, 2014 Supreme Court decision frees Jones.