Monday 10 February 2020

Three Biggest White Collar Crimes Committed in the Last Two Decades

White collar crime, although sounding less serious than other types of crimes, can cause serious damage to the national economy and individual financial stability. Due to the higher stakes involved in the crime, most offenders receive severe punishments that involve prison time as well as steep fines.


This write-up focuses finding some of the biggest crimes involving the white collar offences:

1.    Enron

The Houston-based agency sold a host of services to people all over the world. During the last decade, the corporation faked energy shortage to drive up the cost of electricity. They lied about their annual profits, and committed accounting scams to stabilize their stock prices. During the investigation, the company was found guilty on several charges. The CEO and chairman, Kenneth Lay, was sentenced with life imprisonment but died before his scheduled sentencing. Previous CEO of the agency, Jeffrey Skilling, was convicted for insider trading, making false statements, and multiple security frauds.

2.    WorldCom

WorldCom, once a big long-distance calling and Internet business corporation, met its fall after reports of misstating profits and accounting practices cropped up. The executives duped the investors regarding profits and filed for bankruptcy. The CEO, Bernard Evers, was convicted on the grounds of fraud and making false statements.

3.    Jack Abramoff

The Native American tribes paid close to $20 million as payment to former Republican lobbyist, Jack Abramoff, for lobbying congress regarding gambling casino rights. In some cases, he even worked backdoors to shut down the Native American casinos, as in such events the Native Americans would have to pay him more for lobbying.

If you have been accused of the white collar crime, then you might be facing decades in prison and thousands of dollars in fine. You can get experienced lawyers from the Bernstein, DeCailly & Marshall, PLLC to help your with representing you in the court. For more information, visit http://bdmcriminallawyers.com or call 1-833-3BDMLAW.

No comments:

Post a Comment