The White Collar Crime By Edwin Sutherland Essay

1254 WordsNov 23, 20166 Pages
The phrase “white-collar crime” was introduces during 1939 when a presidential address was given by Edwin Sutherland to the American Sociological Society. Mr. Sutherland described it as, “crime committed by a person of respectability and high social status in the course of his occupation." Although there are many variables to what qualifies for a white-collar crime, the term is generally used for a variety of nonviolent, financially motivated individuals who will exploit their job to commit crimes. One of the most popular crimes committed by these individuals is security fraud. Security fraud is when a person like a stockbroker for example, misrepresents information that investors could use to make decisions. The categories of misrepresentation included in white-collar crime also involve providing false information, withholding key information, offering bad advice, and acting on inside information. Kenneth Lay was the founder of Enron in 1985 and was the chief executive officer for over 15 years. In 1990 Jeffery Skilling joined the company and later on became the chief executive officer in February 2001. However quickly resigned months later for “family reasons.” In despite of Skilling leaving the company, they were both credited in building Enron into a powerhouse in its creative management. In the near future when the company started going down hill both their names were associated with the culture of corporate scandals that followed Enron’s death. In late

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