White Collar Crime
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The term ôwhite collar crimeö was originated in the late 1930s when in a speech given by Edwin Sutherland to the American Sociological Society, Sutherland described the phrase as ôcrime committed by a person of respectability and high social status in the course of his occupationö (White 2004, 1). White collar crime is often committed by corporate executives and includes a range of illegal activities from antitrust violations, bribery and fraud to embezzlement, insider trading and public corruption. White collar crime has been in existence as long as business has existed. Over the past two decades some of the more widely publicized cases of white collar crime involved individuals like Leona Helmsley (tax evasion; 21 months in jail), Michael Milken (securities fraud; 2 years in jail), and most recently Martha Stewart (Lambert and Burke 2004, 1). Stewart, worth hundreds of millions of dollars as CEO of Martha Stewart Living/Omnimedia was recently convicted of four counts of obstructing justice and lying to federal investigators. She awaits sentencing and is expected to receive somewhere around a year-and-a-half in federal prison. While StewartÆs case has been widely publicized in the media and has garnered enormous national attention because of her reputation for ôperfectionö and celebrity status, other corporate executives charged with white collar crimes are allegedly guilty of much more serious crimes. Stewart was not charged with insider trading, j
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Approximate Word count = 1002
Approximate Pages = 4 (250 words per page)
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