Chapter 10 Criminal Law Monday November 2nd 2014 10 1 Crime Learning Objectives Examine white collar crimes Examine blue collar crimes that harm businesses Examine the crimes committed by businesses White Collar Crime organizations Nonviolent crimes committed by people in their professional capacity or by o Committed for financial gain through deception Fraud Use of deception to acquire money or property Larceny Trespassory taking of property with the intent to deprive the owner of it Types of Fraud Insider trading Form of securities fraud Securities Fraud Committed in the context of investments regulated by the SEC Health care fraud committed in the context of the health care field Insurance fraud Use of deception to receive insurance funds o Arson Act of intentionally setting fire to property Types of Fraud Financial Institution Fraud Against banks and other similar institutions such as credit unions o Money Laundering Occurs when funds gained from illegal activities are processed through a seemingly legitimate business to clean the funds from association with criminal activities Ponzi Scheme Pyramid Scheme which is a particular type of fraud Fraud Owners of businesses are potential victims of white collar crime Embezzlement Occurs when someone takes property that was in his or her possession lawfully and then converts it to his or her own use o Forgery Form of counterfeiting someone else s signature or other document o Wire Fraud Committed over interstate wire such as by telephone Corporate Espionage Use of deception to acquire the secrets of an economic competitor for financial gain Misappropriation Obtaining a trade secret by improper means Economic Espionage Act Federal statute that criminalizes the theft of trade secrets among other things Organized Crime Mafia is not the only type of organized criminal activity Kickbacks Incentive payments that are given to someone who makes decisions to encourage others to pay for something Racketeer Influenced and Corrupt Organizations Act RICO Federal statute that penalizes racketeering activities Bribery Occurs when someone pays a government official to influence his or her decision or actions in his or her official capacity for the benefit of the person paying the bribe o Foreign Corrupt Practices Act FCPA Federal statute that among other things outlaws the payment of bribes o Grease payments Payments given to speed up a process that will occur rather than to influence a decision Blackmail Form of extortion that occurs whens someone threatens to reveal a harmful truth such as involvement in criminal activity but agrees to remain silent if he is paid o Extortion When someone obtains property through coercion by threat of some future action Perjury Lying under oath Obstruction of justice Acting in a manner that creates obstacles to the administration of justice Antitrust laws Laws that seek to prevent activities that reduce or eliminate economic competition Sherman Anti trust Act Federal statute prohibiting antitrust activities Cybercrimes Crimes that are committed virtually o Crimes can range from non white collar crimes to traditional white collar crime Computer Fraud and Abuse Act Federal statute that carries punishments for compromising computers used in interstate commerce or communication Unauthorized Access to Stored Communications Act o Federal statute to protect the confidentiality of e mail and voicemail Identity Theft Unauthorized use of someone else s identity typically or financial gain CAN SPAM Act Federal statute carrying civil and criminal penalties for spamming Environmental Crimes Actions that violate federal or state statues relating to the environment which carry criminal sanctions U S federal environmental statues carrying criminal penalties o Clean Air Act and Clean Water Act o Resource Conservation and Recovery Act o Comprehensive Environment Response Compensation and Liability Act Blue Collar Crime Generic term used to describe crimes that are not white collar crimes In business property crimes are a primary concern o Property crime crime involving damage to property while a person crime is a crime involving the injury to a person s body Larceny Shoplifting Larceny of foods in a retail establishment Employee theft Larceny by employees Vandalism Willful or malicious destruction of property
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