StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Why did good people do bad things (commit white-collar crimes) - Essay Example

Cite this document
Summary
It is an example of economic crime that is committed by an individual in a high social status or one who occupies a high position in an organisation. Some of the white…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER95.2% of users find it useful
Why did good people do bad things (commit white-collar crimes)
Read Text Preview

Extract of sample "Why did good people do bad things (commit white-collar crimes)"

Download file to see previous pages

Jeffrey Skilling was a former Enron Chief Executive officer who was convicted of several counts of conspiracy and actual fraud. Russell Wasendorf was the CEO of the bankrupt Peregrine Financial group. Jeffrey Skilling was convicted of making false financial statements, wire fraud and securities fraud and sentenced to 24 years in prison. He was accused of committing a series of frauds that were geared at misleading investors and business analysts (Friedrichs 325). On his part, Russell Wasendorf admitted to stealing millions from about 13,000 investors who had entrusted him with their investment through his Peregrine Financial group.

The judge sentenced him to 50 years jail imprisonment depending on the huge financial loss and sophistication of the fraud. Jeffrey Skilling and Russell Wasendorf were both not born criminals. Jeffrey Smilling was born in Pennsylvani and graduated from West Aurora High school. He attained a Bachelor of Science degree at Southern Methodist University in 1975 and after an MBA from Harvard Business School. Jeffrey was smart in class and in his early career since he was the youngest partner at Mckinsey consulting.

There is no evidence that shows that Jeffrey Smilling had negative behaviours in his early childhood. On the other hand, Russell Wasendorf was born in 1948 and never displayed any signs of criminal behaviour in his early childhood. In the case of Jeffery Skilling, it was a case of a good person doing the bad things. According to his previous employment records, he displayed financial discipline and intense management qualities that helped McKinsey attain higher profitability and customer satisfaction.

Russell Wasendorf is also a case of a good person doing the wrong thing. This is evidenced by his ability to stand the best direct online trading system that could connect the traders with the CME’s Globex in 1998 (Friedrichs 325). The two fraudulent crimes can be explained by the fraud triangle theory that asserts that

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Why did good people do bad things (commit white-collar crimes) Essay - 1”, n.d.)
Why did good people do bad things (commit white-collar crimes) Essay - 1. Retrieved from https://studentshare.org/finance-accounting/1617720-why-did-good-people-do-bad-things-commit-white-collar-crimes
(Why Did Good People Do Bad Things (commit White-Collar Crimes) Essay - 1)
Why Did Good People Do Bad Things (commit White-Collar Crimes) Essay - 1. https://studentshare.org/finance-accounting/1617720-why-did-good-people-do-bad-things-commit-white-collar-crimes.
“Why Did Good People Do Bad Things (commit White-Collar Crimes) Essay - 1”, n.d. https://studentshare.org/finance-accounting/1617720-why-did-good-people-do-bad-things-commit-white-collar-crimes.
  • Cited: 0 times

CHECK THESE SAMPLES OF Why did good people do bad things (commit white-collar crimes)

Policy Proposal to Institute Ethics in Business

At present, the punishment and aggravation against white collar crimes particularly corporate malfeasance is lesser than the benefits that the benefits that corporations and benefits will reap from it.... For example, an executive and a business entity who is found guilty of corporate malfeasance amassed hundreds of millions if not billions of dollars only to be sentenced to few years of prison and/or few million dollars fine which in effect incentivize them to commit crimes....
8 Pages (2000 words) Essay

The Place of Public Police in Contemporary Security

This involves the deterrence of people from possibly committing crimes and responding to emergencies to rescue those in distress.... They are given the power to enforce the law, protect people and property and control civil unrest.... The carrying out of these assigned functions is known… In order to carry out these functions effectively, the Police are empowered to use reasonable force to enforce the law especially when they meet resistance....
15 Pages (3750 words) Essay

Womens Rights as a Critical Issue in Our Society

Many people do not seem to even consider them because they may think that it is so old fashioned, but I am pleased to see that this issue is important to you.... ut answer HERE:Many people do not understand how much trouble their social networking pages may get them into.... They can do these things when they are at home or when they are on a lunch break.... I don't have any crazy pictures on my facebook site and I also never would write something bad related to my job....
9 Pages (2250 words) Essay

Love - Crime and Society

The dimensions of the crimes are widespread throughout the society (Albanese, 2002 ).... There is no single explanation to why the rate of crimes is rising day by day and that why the books and institutions of justice have failed to address the opportunity and the facilitating factors of crimes with respect to the behavioral uplift of the individuals.... “Biological and psychological factors positively correlate with the dimensions of crimes in a highly specialized environment and are directly proportional to the opportunities and factors facilitating the rates of these criminal activities....
9 Pages (2250 words) Essay

Criminology 1 question future crime

However, humans have realized… It is these laws that mostly prevent man from committing crimes or even thinking about committing them. The present world is slowly moving towards the twenty Future Criminology Introduction: Ever since the existence of human beings commenced, man has differentiated good from bad and bad from evil.... It is these laws that mostly prevent man from committing crimes or even thinking about committing them.... Man has proved to be capable of committing heinous crimes that are beyond the understanding of certain individuals....
2 Pages (500 words) Essay

Policy Proposal to Institute Ethics in Business

At present, the punishment and aggravation against white-collar crimes particularly corporate malfeasance is lesser than the benefits that corporations and benefits will reap from it.... For example, an executive and a business entity who is found guilty of corporate malfeasance amassed hundreds of millions if not billions of dollars only to be sentenced to few years of prison and/or a few million dollars fine which in effect incentivize them to commit crimes....
8 Pages (2000 words) Essay

Personality Analyzation: Walter White

hellip; For viewers, the movie is a moral message of what not to do or commit in society.... It is vital to observe that success is dependent on actions; people should not indulge in illegal things and expect family support.... Despite featuring in many shows, the paper focuses on his personality in Breaking bad.... reaking bad is a captivating show worth watching as it does not only entertain, but provide an insight of drama....
8 Pages (2000 words) Coursework

How Media Affects Cyber Bullying

nbsp; Despite the advantages and the passion that people have for social media, there are many risks attached to it, and cyberbullying is one of the larger risks.... These make cyberbully anonymous in the sense that, it is difficult for the people to miss using the internet to be caught and be brought to justice because of their unbecoming behavior (Stewart 82)....
5 Pages (1250 words) Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us