Exam 14: White-Collar Crime

What is white-collar crime? How does sociology's definition differ from the U.S. Department of Justice's definition? Why does the United States have a separate classification for white-collar crimes?

What is the intention of the Sherman (Antitrust) Act of 1890?

What is the disclose or abstain doctrine?

Corporate executives and corporate boards of directors possess a ______, or a high duty of care to safeguard and to protect the investment of stockholders.

Sociologist Robert K. Merton pioneered the concept of white-collar crime.

Stock market fraud emerged as the subject of intense public interest when it was announced that Bill Gates was the subject of criminal investigation for lying to investigators about the sale of stock.

The Broadcasting Act prohibits the payment of money to radio station employees for the inclusion of material as part of a program unless the payment is disclosed to the recipient's employer.

Shane is part of a political action committee working to get his candidate elected to public office. He designs a mailer that will be sent via UPS nationwide in order to advise the public of the shortcomings of the opponent. The flyer is designed to look as though it came from the opponents campaign, as if the campaign staff had turned on the candidate. Can Shane be convicted of mail fraud?

What is generally the mens rea for white-collar crimes?

______ involves spreading false information about a company to drive up the stock price a. Graft b. Pump and dump c. Bribery d. Embezzlement

What is the Occupational Safety and Health Act? Why was this act passed? Do you believe that it is necessary in the 21st century to have OSHA? Why or why not?

The ______ of 1890 is intended to ensure a free and competitive business marketplace.

The ______ rule states that corporate officials must publicly reveal information to the public relating to the economic condition of a corporation before they buy or sell the company's stock.

A conviction for mail fraud requires the prosecution to demonstrate which of the following?

All of the following are elements of money laundering EXCEPT ______.

Josh owns a cash only barbershop. He is very successful and makes thousands of dollars in cash every day. He uses his barbershop as a front for his drug dealing business. He reports that he earns just 45,000 per year when its well over 200,000. He definitely lives as though he makes 200,000. He paid for his luxury home in cash and has a small fleet of classic and sports cars. This disparity between lifestyle and income may attract the intention of whom?

John owned a construction company that frequently bid on state contracts. He agreed with other construction company owners to rig the bidding process to ensure that each company would receive state contracts. The firm designated among the group to receive the bid would submit an inflated price and the others would submit even higher bids to ensure the first company would receive the contract. This led to unreasonably high costs for government projects. What may allow for the prosecution of this behavior?

The ______ requires the heads of corporations to certify that their firms' financial reports are accurate.

Health care fraud is only punished by a fine.

How does sociology define white-collar crime?