White-collar crime is a financially motivated, nonviolent crime committed for illegal monetary gain. Within the field of criminology, white-collar crime initially was defined by sociologist Edwin Sutherland in 1939 as “a crime committed by a person of respectability and high social status in the course of his occupation”. Sutherland was a proponent of symbolic interactionism and believed that criminal behavior was learned from interpersonal interactions. White-collar crime, is similar to corporate crime, because white-collar employees are more likely to commit fraud, bribery, Ponzi schemes, insider trading, embezzlement, cybercrime, copyright infringement, moneess.
Probable Penalties & Consequences
In the United States, sentences for white-collar crimes may include a combination of imprisonment, fines, restitution, community service, disgorgement, probation, or other alternative punishment. These punishments grew harsher after the Jeffery Skilling and Enron Scandal, when the Sarbanes–Oxley Act of 2002 was passed by the United States Congress and signed into law by President George W. Bush, defining new crimes and increasing the penalties for crimes such as mail and wire fraud. In other countries, such as China, white-collar criminals can be given the death penalty. Questions about sentencing disparity in white-collar crime continue to be debated.
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