Company and Corprorate Crime
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When one thinks of crime, it's usually with individuals in mind. However, companies commit crimes too. Review the articles below and respond to this question:
? Do the company's actions fit the definition of a crime? If so, what kind, a felony or a misdemeanor? Why or why not?
Articles:
Ex-WorldCom Chief Ebbers Convicted of Fraud
http://accounting.smartpros.com/x47410.xml
Reliant Energy Services, Inc. and Four of its Officers Charged With Criminal Manupulation of California Electricity Market
http://www.fbi.gov/dojpressrel/pressrel04/energy040804.htm
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Solution Summary
In referecne to WorldCom and Reliant Energy cases, this solution discusses whether or not the company's' actions fit the definition of a crime, and if so, it explains kind, a felony or a misdemeanor is it , and why.
Solution Preview
Please see response attached,a slo presented below. I hope this helps and take care.
RESPONSE:
Let's take a closer look through discussion and example.
1. Review the articles below and respond to this question:
Please read the articles first, by clicking on the following links.
Articles:
Ex-WorldCom Chief Ebbers Convicted of Fraud
http://accounting.smartpros.com/x47410.xml
Reliant Energy Services, Inc. and Four of its Officers Charged With Criminal Manipulation of California Electricity Market
http://www.fbi.gov/dojpressrel/pressrel04/energy040804.htm
2. Do the company's actions fit the definition of a crime?
I would argue that the company's action fit the definition of crime.
Crimes are acts or omissions that are in violation of law. Each state in the United States, as well as the federal government, maintains a body of criminal laws. As populations have increased and personal interactions and business transactions have grown more complicated, criminal laws have likewise grown in number and complexity. Most jurisdictions codify criminal statutes in a separate section in their laws. However, some crimes are placed in chapters or titles outside the designated criminal code. Generally, criminal laws are divided into several broad categories: offenses affecting public order, health, and morals; offenses involving trade, ...
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