Prosecution Of White Collar Crime In America


I talked earlier about white collar crime in the United States and the types of crimes committed by those who financially exploit their position. In recent years, vigorous pursuit of white collar crimes has become common. Terms like investment fraud and insider trading have become household words. Corporate America is clearly under attack — some of it deserved, some of it not. Where are things going?

The current tide of strenuous pursuit of investment crime began when thousands of investors were financially ruined by a Ponzi scheme designed and exploited by Bernard Madoff over several decades. Destroying the financial security of even close friends, Mr. Madoff is currently serving 150 years in prison and suffered the death of a son by suicide two years to the day of his arrest.

White collar crime is not victimless. But those charged with insider trading and white collar crime can see lives, relationships, careers and professional licensure destroyed merely from the accusation. While seeking out those reeking havoc on the finances of others is important, making sure those charges are appropriate is essential.

Prosecution of white collar crime is not subsiding. Insider trading cases still make the news. At the end of 2012, federal insider-trading cases were brought in New York, New Jersey and California against:

  • A former professional baseball player
  • A group of pharmaceutical executives who exchanged inside information playing pick-up basketball
  • A portfolio manager suspected of using inside information to wildly improve the position of his company

The value of insider trading cases can vary widely. In these cases, from $1.3 million to a record $276 million in gains and avoided losses were alleged.

Where is prosecution of corporate America for white collar crime going? Ahead, and aggressively. If arrested or under suspicion for white collar crime, contact our Cleveland office — we can help.

Topics:  Bernie Madoff, Insider Trading, Investment Fraud, Ponzi Scheme, White Collar Crimes

Published In: Criminal Law Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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