White Collar Crimes in the United States

[Name of the Institute]Abstract

White collar crimes are referred to crimes that include the motivation of finance for committing a crime for gaining illegal money. It is very important to understand that white collar crime is a broad term and it involves a number of sub categories. It is very important to understand that white collar crimes not only involve financial loss, by it also involves social losses. It is very obvious through the above discussion that white collar crimes, whether they are committed by the corporations or individuals have serious social and financial repercussion for the society of America. It is obvious that white collar crimes are also being committed against individuals in the American society. White collar crimes are also committed against the government in the United States. These illegal activities provide the corporations committing the crime an unfair or illegal advantage over their competitors. Unfair labor practices are a crime that is commonly observed in the corporations of the United States. White collar crimes are also committed by the corporations against the public in the United States. This crime of Ken Lay also affected the economy of the United States to a great extent. It has also been observed that former Chief Executive Jeffrey Skilling was also involved in this crime with Kenneth Lay. It has been observed that there were 12 jurors who were involved in decision making of this case but it was stated by these jurors that the decision to be made in this case is one of the toughest decision because of the presentation of the compelling arguments from both the sides. It is obvious that the scandal discussed above was a major issue and scandal in the history of American business. It is obvious that the bankruptcy of Enron was not only a loss for the organization itself, but it caused other stakeholders of the company huge expenses. So, it is obvious that the cost of Enron's bankruptcy was distributed not only to Kenneth Lay and Jeffrey Skilling, but also to the organization's employees and investors.

Introduction5

Discussion5

Significant Categories of White Collar Crime in the United States6

Financial6

Social7

Serious Repercussions7

Crimes Committed by Individuals7

Crime against Individuals8

Crime against the Government9

Crimes Committed by Corporations9

Crime against the Competitors9

Crime against the Government10

Crime against the Employees11

Crime against the Public11

The Case File of Ken Lay of Enron for Committing a White Collar Crime12

Juror's Reaction13

Tears in the Courthouse14

Success of Enron's Prosecutors and the Department of Justice15

Cost of Enron's Bankruptcy16

Conclusion17

References19

White Collar Crime in the United States

Introduction

White collar crimes are referred to crimes that include the motivation of finance for committing a crime for gaining illegal money. It is obvious in these types of crimes that these are non violent crimes but the damage is done to a person or organization in terms of finance or money. In the field of criminology, the term white collar crime was first defined by a sociologist named Edwin Sutherland in the year 1939. The following is the definition of white collar crime that was presented ...