Crime

[Name oof the Writer]

[Name of the Insitute]

Crime

Introduction

The purpose of this paper is to analyze a media article on a certain crime and describe the procedures involved in the criminal justice system. In the following sections I will discuss a case of white collar crime and describe criminal justice procedure and proceedings of the case and the legislative system.

Smith, A. (Nov 8, 2011.) “White collar crook Rajaratnam fined record $92.8 million”, CNN Monery, pp. 1.

This case was reported by CNN in November last year, the case talks about Raj Rajaratnam, a former hedge fund manager of The Galleon Group. Securities and Exchange Commission has charged around $93 million after being convicted of insider trading. This is the highest fine ever charged by SEC, including 11 year of sentence. However the role of Police department was also highlighted. The case observed a biased police opinion on white collar crimes. The prevalence of white collar crimes in the United States has a long history and the society has observed a considerable increase in this classification of crimes.

Discussion

For a couple of years, an increasing number of white- collar crimes have been reported. Unfortunately, the influential and rich people are engaged in these types of crimes. They are unlike the traditional crimes with which people are familiar for ages. These are criminals who are apparently soft spoken, suave, well educated and socially respectable. The modern industrial capitalism increased the white- collar crime in the society. Their origin dates back o the eighteenth century in Britain. From the early nineteenth century they prospered in the European and North American countries. Only media write ups and government reports have addressed this issue so far. However, no research work on the spread of white- collar crime has been undertaken on a broad scale.

The research takes contributions from the studies. According to the literature in the research, when a company suffers from white- collar crimes, it has to make up for the cost by raising prices. This practice directly hurts the customers. It also means less pay for the employees and even downsizing. The effect continues to ripple when employees are unable to pay off loans, ad credit becomes difficult to obtain. It is affecting the public confidence in the economy. It is important to create a public awareness. It can be achieved through media and law enforcement agencies. It also entails the criminal justice system and outlines its procedures and proceedings (Smith, 2011).

The study contributes significantly to the fact that bankruptcy and antitrust crimes have the greatest affect on the economy. Fraud committed by executives damages the stock holders and public confidence for the corporations at the same time. The telemarketing frauds hurt the elderly because they are usually at home and usually with no one to help them with such issues. These companies find it difficult to track down because most of them are between the jurisdictions, making it hard for the law enforcement officials to track them down. However, a comprehensive research is required ...