Thesis: The society led by the criminal justice system(CJS) in the United States treats white-collar crimes differently from other traditional crimes like burglary, robbery, and sex crime. Although the damage resulting from white-collar crime is high, it is difficult to comprehend these crimes compared to traditional crimes. Although white crime usually does more damage to society, like financial losses, most white crime perpetrators walk free due to their high status.
Bennett, M. W., Levinson, J. D., & Hioki, K. (2016). Judging federal white-collar fraud sentencing: an empirical study revealing the need for further reform. Iowa L. Rev. , 102 , 939. https://ilr.law.uiowa.edu/print/volume-102-issue-3/judging-federal-white-collar-fraud-sentencing-an-empirical-study-revealing-the-need-for-further-reform/
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The article examines white-collar crime (WCC) sentencing by the US judicial system relating to Bernie Madoff's case. Madoff, a renowned white-collar criminal, engaged in fraudulent activities for over 20 years, where he stores millions of dollars without remorse to enrich himself and his family. Madoff was the first person to get a high sentence for a white-collar crime where he was sentenced to 150 years at 71. The article explores the evolution of white-collar punishment by the judicial system from the 1980s. Although most of these crimes like Madoff, Enron, MF Global, and others dominate the headline, they fail to reflect daily fraud prosecution in American society. The article will explain the history of WCC and the different sentences and penalties given to the perpetrators.
Benson, M. L. (2015). White Collar Crime: Recent Trends and Debates. https://doi.org/10.1016/B978-0-08-097086-8.45094-4
The article by Benson explores the meaning of white-collar crime and recent trends and debates on this topic. Benson argues that White collar crime does not involve physical means like street crimes. Offenders are non-physical means like their knowledge and power and concealment to obtain money or property illegally. White-crime offenders receive different treatment since they use their psychological ability to lure the public. These individuals use neutralizing mechanisms to justify or account for their offenses. The source is credible and offers an adequate understanding of white-collar crime. The article shows these offenders' unique psychological and cognitive reasoning that society treats them differently.
Benson, M. L., & Simpson, S. S. (2014). Understanding white-collar crime: An opportunity perspective . Routledge.
The book explores the emerging scandals in white-collar crimes for the past decades and the consequences of these crimes in society. The book shows high cases result from close connections between perpetrators and the criminal justice system. The US mortgage market faces huge human and financial problems caused by white-collar crimes, yet the offenders receive little or no punishment for the crime. The book cites a veritable cornucopia of fraud in the mortgage industry between 2000 and 2008 due to white-collar crime, which led to the great recession, whose impact is still felt in society today. According to Benson & Simpson (2014), the major white-collar crimes include securities offenses, especially stock manipulation, insider trading, and investment schemes. The study is a credible source for the thesis since it explores WCC and its views. Further, the book shows that the rising cause of white–collar crimes in the US is caused by light punishment by criminal justice and regulatory systems.
Berghoff, H., & Spiekermann, U. (2018). Shady business: On the history of white-collar crime. https://doi.org/10.1080/00076791.2018.1414735
The article explores the history and nature of white-collar crime and factors that make it challenging to prosecute the perpetrators. Unlike most street crimes committed by low economic status, white-collar crimes are committed by individuals of high status with a high reputation in the corporate world and society. The study shows individuals who commit white-collar crimes are rarely perceives as typical criminals compared to those who engage in theft, manslaughter, and other crimes. According to the article, perpetrators of white-collar crimes are difficult to prosecute since they use sophisticated means to conceal their crimes. The article will be crucial for the thesis since it explores the societal view of white-collar crime different from other crimes and factors that make its punishment more lenient despite huge damage caused.
Cullen, F. T., Chouhy, C., & Jonson, C. L. (2019). Public opinion about white‐collar crime. The Handbook of White‐Collar Crime , 209-228. https://doi.org/10.1002/9781118775004.ch14
The article explores the public opinions regarding white-collar crimes in the US. Although white-collar crimes cause massive damage to society, the public does not get strict with the perpetrators. The public, including the media, does not emphasize condemning and reporting white-collar crimes in other street crimes. Public animus towards lawlessness committed by those in top authority has remained low, with most cases been going unreported. According to Cullen et al., unlike street crimes committed by the minority race and low-income earners, white-collar crimes are mainly committed by wealthy whites, hence low reporting by the public. The article is a credible source approved by the Handbook of White‐Collar Crime . The article provides relevant information understanding why a low-public opinion on white-collar crime despite the huge damage caused.
Fligstein, N., & Roehrkasse, A. F. (2016). The causes of fraud in the financial crisis of 2007 to 2009: Evidence from the mortgage-backed securities industry. American Sociological Review
, 81 (4), 617-643.
White-collar crime has a detrimental effect on the economy, starting from massive loss of jobs, shutting down of companies, and loss of investors. A study conducted by Fligstein and Roehrkasse shows that many US companies like Enron and Volkswagen collapsed due to massive fraud among the top officials. The financial crisis of 2007-2008, which led to the great depression, shows the impact of white-collar crime on society. The crisis was marked by widespread mortgage securitization fraud that led to the loss of billions of dollars. When mortgage supply declined in 2003, mortgage lenders reduced credit standards and involved in predatory lending to gain profits. Issuers of securities engaged committed series of fraudulent activities to conceal their misconduct which hugely affected the economy. The article is a credible source for exploring the effect of white-collar crime and how perpetrators receive light punishment.
Fredericks, K. A., McComas, R. E., & Weatherby, G. A. (2016). White collar crime: Recidivism, deterrence, and social impact. Forensic Research & Criminology International Journal , 2 (1), 5-14. https://doi.org/10.15406/frcij.2016.02.00039
A study by Fredericks et al. (2016) shows a disparity in sentencing, which affects recidivism, deterrence, and society's cost. Offenders of white-collar crime get shorter sentences and penalties despite causing huge damage to society, especially in the economy. The primary cause of the difference in punishment is the lack of knowledge by society on what white-collar crime is and its effect on them and the victims. The study shows that lenience in punishing white-collar offenders leads to high recidivism. Based on deterrence theory, the high recidivism rate in white-collar crime is caused by a lack of certainty, severity, and swiftness of punishing offenders.
Gottschalk, P., & Gunnesdal, L. (2018). White-collar crime in the shadow economy: Lack of detection, investigation, and conviction compared to social security fraud . Springer Nature. https://library.oapen.org/bitstream/handle/20.500.12657/27864/1002140.pdf?sequence=1
Gottschalk and Gunnesdal explore how detection, investigation, and convictions of white-collar crimes are treated differently than social security fraud. White-collar crimes continue to affect the financial market in the US and across the world. Despite the huge damage caused by these crimes, the judicial system applies light punishment to the perpetrators, and the majority goes free despite billions of dollars stolen for individual gains. The article uses Loughrin v. the United States, 573 US 351 (2014) to show how the judicial system punishes white-collar crime lightly compared to robbery crimes. Kevin Loughrin stole billions of dollars and was sentenced to 36 months while street crimes like robbery received heavy punishment. The article shows that white-collar crimes are vomited by those in high statuses like education and income; hence are not considered very serious. The article is a credible source important for the thesis since it explores how society treats white-collar crimes and punishments given to the offenders.
Healy, P. M., & Serafeim, G. (2016). Who Pays for White-Collar Crime?. Harvard Business School working paper series# 16-148 .
The article explores white-collar crimes and factors that drive the punishment of perpetrators of crime. A study conducted in a dataset of 667 companies globally, Healy and Serafeim, shows that US regulators punish white-collar crimes differently from other crimes. According to the study, white-collar crime costs the US over $300 billion annually, a higher loss compared to personal property crime. Several big companies like Enron, Semmens, Volkswagen, and others that used to contribute hugely to the economy have been destroyed by these crimes, yet; the offenders are still walking free. The punishment for the perpetrators, who are mainly top executives, is lower than those who rob the bank. The study also shows that the punishment for white collar-crime differs across gender. Male senior executives who engage in white-collar crimes are punished leniently compared to female offenders or senior perpetrators. The article is a credible source for the research since it covers different punishments given to white-collar offenders than other crimes and examines the huge impact of white-collar crime in society.
Martinez, J. P. (2014). Unpunished Criminals: The Social Acceptability of White Collar Crimes in America. https://commons.emich.edu/cgi/viewcontent.cgi?article=1381&context=honors
The article by Martinez explores white-collar crime in the US and how the perpetrators go unpunished despite the huge damage caused by society. According to Martinez, white-collar crime causes damage approximating between $250 billion to $1 trillion annually. White-collar crime involves crimes like blackmail, bribery, bank fraud, counterfeiting, embezzlements, credit card fraud, investment scheme, securities fraud, insurance fraud, and others that lead to loss of money and properties. The criminal justice system needs to consider several factors in both street, and white-collar crimes, including total damage caused, ripple effect, the possibility of victims to recover , get justice, the impact of crime on overall society, and many others. However, the study shows that most of these factors are not considered when solving white-collar crime. Criminals of this crime are less likely to experience justice compared to street crimes. The article is vital for this paper since its shows how white-collar offenders are favored by the safety barrier of anonymity, making it challenging for law enforcement to trace criminal activities. The source will help understand the reason for the rising case of white-collar crimes and how society views these crimes.
Michel, C., Cochran, J. K., & Heide, K. M. (2016). Public knowledge about white-collar crime: An exploratory study. Crime, law and social change , 65 (1), 67-91. DOI: 10.1007/S10611-015-9598-Y
The article supports the thesis that financial and physical damage caused by white-collar crime is higher than the impact of traditional crimes. There is a limited societial response to WCC, which has affected the perpetrators' punishment. From a study involving 480 participants who participated in an inline questionnaire, the most significant number acknowledged that they are not fully informed of white-collar crimes and punishment that should be governed to the offenders. The public is reluctant to report white-collar criminals since most influential people like senior managers and politicians easily bribe the criminal justice system and escape punishment. The article will help analyze different public perceptions regarding white-collar crimes and street crimes and why they are punished differently.
Pierpoint, G. (2019). Do white-collar criminals get lighter sentences? . BBC News. Retrieved 20 February 2020, from https://www.bbc.com/news/world-us-canada-47477754
The public shows less concern and is punitive towards white-collar crimes than how they perceive street crime, sexual assaults, robbery, burglary, and others. An article published on BBC by Pierpoint shows that the public pushes for heavy punishment for street crimes while ignoring white-collar crimes. The leniency of the US criminal justice system is seen when punishing white-collar crimes, like in Paul Manafort, a former campaign chairman of President Trump. Due to the status of most offenders, many judges sentence them below fraud guidelines. Instead of condemning white-collar crimes, the public praises white-collar criminals for their money and supremacy, which affect their prosecution. Thus, the study will be essential for the paper since it tries to explain the reason for light punishment among white-collar criminals compared to other crimes.
Piquero, N. L. (2018). White-collar crime is crime: Victims hurt just the same. Criminology
& Pub. Pol'y , 17 (3), 595-600. doi: 10.1111/1745-9133.12384
The article shows that white-collar crimes are severe and have a detrimental effect on society. The study shows that many individuals are affected, and great damage is caused to the victims. Society had begun to recognize the huge damage caused to victims. The study shows that taxpayers have begun to show a willingness to provide financial support to white-collar crime victims by establishing compensation programs. In his article, Piquero shows the CJS need to put white-collar crime on equal fields with traditional street crime. The article is a vital source for the research paper since it compares white-collar crimes to other street crime and shows the need to put severe punishment and policy to curb these crimes that cause huge damage to society,
Stadler, W. A., & Benson, M. L. (2012). Revisiting the guilty mind: The neutralization of white-collar crime. Criminal Justice Review
, 37 (4), 494-511. https://doi.org/10.1177%2F0734016812465618
Stadler & Benson (2012) article shows that white-collar offenders do not regard their crimes or themselves as criminals and usually deny being guilty. Bernard L. Madoff told fellow inmates that his crime was different from street crimes since he took off money from the rich who were greedy and wanted to get more. Unlike street crimes like burglary, which are difficult to conceal, white-collar crime can go for many decades unnoticed, as in the Ponzi Scheme case. The study shows that white-collar criminals justify their illegal behaviors by making untoward behavior acceptable and warranted despite their fraudulent actions. The source will help analyze techniques that make white-collar crime different from other crimes, making the offenders admit their behavior's legality.
References
Bennett, M. W., Levinson, J. D., & Hioki, K. (2016). Judging federal white-collar fraud sentencing: an empirical study revealing the need for further reform. Iowa L. Rev. , 102 , 939. https://ilr.law.uiowa.edu/print/volume-102-issue-3/judging-federal-white-collar-fraud-sentencing-an-empirical-study-revealing-the-need-for-further-reform/
Benson, M. L. (2015). White Collar Crime: Recent Trends and Debates. https://doi.org/10.1016/B978-0-08-097086-8.45094-4
Benson, M. L., & Simpson, S. S. (2014). Understanding white-collar crime: An opportunity perspective . Routledge.
Berghoff, H., & Spiekermann, U. (2018). Shady business: On the history of white-collar crime. https://doi.org/10.1080/00076791.2018.1414735
Cullen, F. T., Chouhy, C., & Jonson, C. L. (2019). Public opinion about white‐collar crime. The Handbook of White‐Collar Crime , 209-228. https://doi.org/10.1002/9781118775004.ch14
Fligstein, N., & Roehrkasse, A. F. (2016). The causes of fraud in the financial crisis of 2007 to 2009: Evidence from the mortgage-backed securities industry. American Sociological Review , 81 (4), 617-643.
Fredericks, K. A., McComas, R. E., & Weatherby, G. A. (2016). White collar crime: Recidivism, deterrence, and social impact. Forensic Research & Criminology International Journal , 2 (1), 5-14. https://medcraveonline.com/FRCIJ/white-collar-crime-recidivism-deterrence-and-social-impact.html
Gottschalk, P., & Gunnesdal, L. (2018). White-collar crime in the shadow economy: Lack of detection, investigation and conviction compared to social security fraud . Springer Nature. https://library.oapen.org/bitstream/handle/20.500.12657/27864/1002140.pdf?sequence=1
Healy, P. M., & Serafeim, G. (2016). Who Pays for White-Collar Crime?. Harvard Business School working paper series# 16-148 . https://dash.harvard.edu/bitstream/handle/1/27877658/16-148.pdf?sequence=1&isAllowed=y
Martinez, J. P. (2014). Unpunished Criminals: The Social Acceptablity of White Collar Crimes in America. https://commons.emich.edu/cgi/viewcontent.cgi?article=1381&context=honors
Michel, C., Cochran, J. K., & Heide, K. M. (2016). Public knowledge about white-collar crime: An exploratory study. Crime, law and social change , 65 (1), 67-91.
Pierpoint, G. (2019). Do white-collar criminals get lighter sentences? . BBC News. Retrieved 20 February 2020, from https://www.bbc.com/news/world-us-canada-47477754
Piquero, N. L. (2018). White-collar crime is crime: Victims hurt just the same. Criminology & Pub. Pol'y , 17, 595. https://utd-ir.tdl.org/bitstream/handle/10735.1/6905/EPPS-6615-240104.08-LINK.pdf?sequence=1&isAllowed=y
Stadler, W. A., & Benson, M. L. (2012). Revisiting the guilty mind: The neutralization of white-collar crime. Criminal Justice Review , 37 (4), 494-511. https://doi.org/10.1177%2F0734016812465618
