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Related Flashcards
Related Topics
Cards In This Set
| Front | Back |
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What is Business Crime?
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- The crimes within a corporation
- The crimes against a corporation |
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Who is liable for Business Crime?
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-Corporation is Liable
-Officers and Directors are liable if 1. They authorized the conduct 2. They knew about the conduct and did nothing |
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White-Collar Kingpin Act
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Federal law imposes minimum federal mandatory sentences on corporate officers.
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2002 Sarbanes-Oxley (White-Collar Criminal Penalty Enhancement Act)
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1. Increases penalties
2. Creates new crimes for certification of false financial statements. 3. Increased penalties for obstruction, mail, and wire fraud. 4. Scrushy first CEO tried, but not convicted. |
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Actus Reus
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The act of the crime.
Example: The desire to trade on inside information is not a crime until you actually trade on it. |
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Mens Rea
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The intent of the crime.
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Scienter
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Attempt to deceive/defraud.
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Securities Exchange Act of 1934
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Insider trades on information about the company when that information is not known to public.
Tippee - Gets info straight from insider Can get in trouble for being a tippee, if over heard the info and was not told directly, then not liable. |
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Dow Chemical Case
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Delt with evidence that is in plain sight can be obtained by anyone.
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Probable Cause Requirements
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-Search warrant
-Reasonable expectations of privacy -Business Records? -"Pleading the 5th" -Miranda (The other guys) |
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US v Park
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Rodents in ACME warehouses
-delegation is not a defense in this case. |
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Obstruction of Justice
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(Martha Stewart was charged and convicted of this)
1. Intent to impede, obstruct, or influence investigation or administration of justice. 2. Auditors must retain work papers for 5 years. 3. Felony - 10 years 4. Frank Quattrone and Andersen convicted. |
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Theft and Embezzlement
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1. Intent to take property
2. Actual taking of property for permanent use 3. No authorization to take the property |
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Categories of Computer Crime
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A. Unauthorized use of computers or computer-related equipment.
b. Alteration or destruction of computers, files, programs, or data. c. Entering fraudulent records or data. d. Use of computers to convert ownership of funds, financial instruments, property, services, or data. |
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Computer crimes that involve the computer as a victim
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A. Theft of hardware (crime of theft)
b. Theft of software (larceny, infringement, or specialized statutes) c. Intentional damage -physical destruction -intentionally planting a bug or virus -often covered by state statutes on viruses on bugs |
