Corporate Crime

According to Websters Dictionary (1996) the definition of sporty glom is of or relating to workers whose occupations usually does not involve manual labor. sporty arrest crime is usually defined as either illegal offense that is perpetrate in business or professional setting with the goal of achieving personal financial take up (white perk upcrimefyi.com). The origin of the term white collar is traced back to 1939, to prof Edwin Sutherland, of Indiana University, Pontell, Rosoff & Tillman (2002). Sutherland defined white collar crimes as crimes committed by a person of respectability and high social status in the course of his occupation (Pontell et al., 2002). White collar crimes argon not violent, but have the potential to trifle about tremendous e snarfomic loss for companies, investors, and others affected by the offenders actions (whitecollarcrimefyi.com). Sutherland concluded that the financial cost of white collar crime is probably several times as grand as the cost of all the crimes customarily regarded as the crime problem (Pontell et al., 2002). There are many sociological and economic factors that contribute to white collar crime. Accumulation of wealth, competition, swear for upward mobility and pursuit of self-interest are a some of the sociological factors.

Economic factors such as poor thrift and loss of income also contribute to white collar crime as well as crime in general. Because of the great desire for the accumulation of wealth, the Ponzi scheme is one of the oldest white collar crimes committed, and still very effective! The Ponzi Scheme is named after con artist Charles Ponzi, a turn-of-the-century immigrant and former fruit peddler (Pontell et al., 2002). Ponzi schemes are basically pyramid scams where the person at the top pay from enlarging his base or recruiting others into the scam. In 1920, Ponzi was arrested, convicted of fraud, sentenced to 4 years in federal prison, and later deported. He died a pauper in... If you want to take up a full essay, order it on our website: Ordercustompaper.com

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