In 2007, Conrad Black, a prominent journalist, publisher, and investor was convicted of three counts of fraud and one count of obstruction of justice. He was sentenced to six and a half years in prison and ordered to pay a fine of $125,000. Later on, Mr. Black had two of the counts of fraud overturned on appeal. Mr. Black served only 37 months in a U.S prison before being released in 2012 and retuning to Canada (McFarland 2014). The case study of Conrad Black will be used to evaluate how human beings behave under various circumstances. In the 1990’s Mr. Black built one of the biggest newspaper groups in the world (Lemieux, 2011). He owned a newspaper group known as Hollinger, which he progressively grew from its roots. After Black had stepped down as the CEO of Hollinger, it was realized that he had been engaging in fraudulent activities. For instance, he had paid Hollinger’s executives a lot of money …show more content…
He argued that every human being has unique preferences which greatly influence them when making choices (Breen and Rottman 1995). People are mostly motivated by money and are likely to carry out a cost-benefit analysis before settling on a decision. It is based on the following premises: human behavior is based on rational calculations, human beings act with rationality when making choices and these choices are aimed at maximizing gains or pleasure. In a similar manner, Interactionist Theory (IT) is used to study social interactions among people. It does not study the entire population at once, but rather studies smaller social groups. It focuses on how individuals act and how they make behavioral choices depending on the way they interpret situations (Hindess, 1998, p.42). From another perspective, it states that human beings only react to social stimuli. As such, they are social actors, and must adjust their behaviors in consideration to the behaviors of other human
Facts: John Brady (petitioner) and Charles Boblit were found guilty of first degree murder and sentenced to death. Convictions were affirmed by the Court of Appeals in Maryland. Their trials were processed separately. At Brady’s trial, he took stand and maintained that he participated in the preceding robbery, but not in the killing. At the sentencing, both men received the death penalty. Brady’s counsel conceded that Brady was guilty of murder in the first degree, and asking the jury to return that verdict “without capital punishment. Prior to the trial counsel requested to examine Boblit’ s extra judicial statements. Several statements were shown to Petitioner’s counsel; but the one was dated on July 09, 1958, in which Boblit admitted the actual homicide, was
The initial problem with Lewis Blackman's case was that lewis was administered inappropriate medication. First he was given a strong dose of opioid pain medication and on top of that prescribed an adult IV painkiller called Toradol. His medication was being increase even though it was not affecting the patient relieve pain. The nurses fail to diagnose the patient's pain and reevaluate him on his pain status. Followed by that Lewis was having trouble breathing, that is one of the first priorities for a nurse. Yet they assume because he had a history of asthma, him having affected breathing was normal. Therefore, his vital signs, pulse oximeter, were compromised the day after surgery from 90 to 85 which is low. The hospital was not concerned
Many pivotal managerial principles and practices are exemplified in the Case Study, Outrage at Eastern. In this particular story a manager, Charles Jackson, is faced with many difficult decisions regarding problems concerning one of his workers at Eastern Plating. One of Jackson’s workers named Marty Reid is accused of molestation of his stepdaughter. His allegations are made public in a recent writing in the “Evening Beacon”, the daily paper of the 10,000 town’s population. Reid also has his wife going against him as well, which automatically makes him guilty to the majority of the town. When Jackson reads the paper he immediately understands what he might be faced with in the next upcoming days of
During my courses, I frequently remind students that most corporate executives, accountants, and auditors are honest and ethical. This case provides a stark and powerful example of one such individual. When I discuss a case such as this in my courses, I try to provide other examples of positive role models among corporate executives. Granted, most of these examples do not involve accounting or auditing matters, but, nevertheless, they help to blunt the impression that students may receive from studying my cases that most corporate executives are “crooks.”
This episode of American Greed presents the subtle yet very dangerous white collar criminals, whose tactics lead to financial losses with harrowing effects. The criminal in this particular case, Mr. Steven Palladino, manages an ice cream store in his neighborhood of West Roxbury and as such is a widely trusted man. The trust he obtains be founded from having been born and grown here as well as having his entire family as the mascots for his fraudulent enterprise. Having studied finance and finally making his way successfully through college to become a registered stock broker, he makes use of his social status to start in the pursuit of a Ponzi scheme under the appearance of Viking Financial. On the flip side, his investors seem to have unwavering trust in him despite the location of his office, a small
We have countless examples of dishonesty in our daily lives, media, etc. For the Common Book Assignment Just Mercy – which focuses on the tale of a talented lawyer and wrongfully imprisoned inmates – there are many examples of people manipulating the truth for their own benefit. This novel was an incredibly moving piece and opened my eyes to the crucial problems happening in the criminal justice system. Bryan Stevenson focuses the main theme of his novel on the statement, “the opposite of poverty is not wealth, the opposite of poverty is justice.” In the novel, it brings up issues such as the death penalty, racial profiling, as well as inequality and poverty to emphasize the corruption not many are aware about. From Ralph Myers, who purposefully made a scapegoat out of an innocent man, we can cite instances of dishonesty in multiple resources.
In the case of Conrad Jarrett I would envision utilizing two frontline treatment options in order to reduce the client’s symptoms of Posttraumatic Stress Disorder (PTSD). Bryant (2008) designed a treatment protocol that combines the use of cognitive restructuring and exposure therapy. Utilizing both of these therapies within structured individual sessions would allow a reduction in negative cognitions (e.g., feelings of guilt and shame) should these feelings intensify during exposure. My concern stems from the patient’s previous attempt at suicide and my desire to provide Conrad with some tools to combat his negative thoughts increasing the likelihood that he will remain unharmed and in therapy through the duration of treatment.
At the heart of his theory was the idea that people acted to maximize their rewards in their social action.
Jordan Belfort is the notorious 1990’s stockbroker who saw himself earning fifty million dollars a year operating a penny stock boiler room from his Stratton Oakmont, Inc. brokerage firm. Corrupted by drugs, money, and sex he went from being an innocent twenty – two year old on the fringe of a new life to manipulating the system in his infamous “pump and dump” scheme. As a stock swindler, he would motivate his young brokers through insane presentations to rile them up as they defrauded investors with duplicitous stock sales. Toward the end of this debauchery tale he was convicted for securities fraud and money laundering for which he was sentenced to twenty – two months in prison as well as recompensing two – hundred million in
The question before our society is not whether corporate crime is a victimless crime, rather the question is what should be done about it? Corporate crime doesn’t just do harm to the investors that can be unknowingly damaged by these crimes, it has a much more insidious nature to it as it has done harm on global scales. Corporate crime is almost a misnomer because many of these criminal wrongdoings are for the most part legal, when not taken to their ultimate conclusion. Society within the United States has been taught that the man in the brief case, yelling at other men in dark coats on the flow of the stock exchange are the smartest guys in the room. This paper will attack that idea on many levels, the first salvo will be
Economists have often modelled human decision makers as completely rational. According to this model, rational people know their own preferences, gather and accurately process all relevant information, and then make rational choices that advance their own interests. However, Herbert Simon won a Nobel Prize in economics by pointing out that people are rational, but only boundedly so in that they seldom gather all available information, they often do not accurately process the information
In today’s society crime occurs everyday across all aspects of life. One particular crime is that of white collar and corporate level crime. It is important that we as a society study this type of crime in depth because many individuals believe that white collar and corporate level crimes are victimless crimes when in reality they have the potential to destroy major corporations and economies all with one single case. The news or media rarely talk about this type of crime because it is often difficult to understand and individuals typically lack interest in these types of cases. One particular case is that of Jordan Belfort. Dubbed the infamous “Wolf of Wall Street” Jordan Belfort is a former stockbroker who robbed investors of over $200 million dollars to create his wealth through “pump and dump” schemes, insider trading, money laundering securities fraud, and stock-market manipulation. As an attempt to further understand these complex cases I will break down Belfort’s case as far as the methods and means as to how he got started, his use of “pump and dump” schemes and other means as to how he acquired his wealth. In addition to this I will discuss the sanctions and disciplinary action that Jordan Belfort was given, how the case affected society and what new regulations were
Interactionists tend to concentrate on relatively small scale levels of social interaction, between individuals or small social groups. They focus on the way in which individuals act, making conscious choices about
Most everyone goes home after a long day of work and watches the news. Think, what is usually reported? The weather, local activities, headline news, or daily criminal activity. Shootings, stabbings, homicides, etc. are all discussed by media anchors these days. This causes most everyone in our society to become familiar with crimes that are considered street crimes. What most people don’t hear about on the news is what is considered white-collar crime, sometimes known as corporate crime. White-collar crime not only is less reported in the media but also receives weaker punishments than street crime. This paper will first discuss the similarities between the two types of crime and then explain why their punishments are strongly
Behavioural economics is the study of the effects that psychology has on the decision making of the economy. This tends to be the way that people think and feel when they are spending money on a certain good or service. The great economist Adam Smith was the first follower of this idea through his book “The theory of moral sentiments” which dates back to 1759. However, it took over 100 years to get a more clarified meaning of how big of a role the psychology of a buyer plays in economics. In behavioural economics there are seven basic principles which all contribute to the decision making process. Behavioural economics can explain how people will react to different situations such as times when there are no economic problems and times when