Chapter 12: Crimes of Power – White-Collar, Corporate, Green, Organized Crime

Twenty practice flashcards covering key concepts from the lecture notes on white-collar, green, and organized crime.

What is white-collar crime?

Illegal activities of people and institutions seeking to profit through legitimate transactions, including embezzlement, price-fixing, and bribery.

What is green-collar crime?

Crimes against the environment, usually for profit, such as environmental dumping, pollution, and unsafe practices.

What is organized crime?

Illegal activities by groups pursuing profit through illicit enterprises, using threats, extortion, smuggling, and control over drugs, gambling, loan sharking, and related activities.

Which two authors argue that corporations lack conscience and require government and international checks?

Wade Rowland (Greed, Inc., 2005) and Joel Bakan (The Corporation, 2004).

What are the cost comparisons between white-collar crime and street crime in the United States?

White-collar crimes cost about $250 billion per year, roughly 14 times the under-$18-billion annual cost of street crimes.

What are the two broad white-collar crime categories described by Clinary/Quinney and Edelhertz?

Occupational offenses by individuals in the course of their work and corporate offenses by corporate officials or the corporation itself for its own benefit.

What is state-corporate crime?

Illegal or socially injurious actions resulting from cooperation between governmental and corporate institutions.

What were the Tyco case highlights involving Dennis Kozlowski and Marc Swartz?

Indicted on fraud and larceny; misappropriated about $170 million and inflated stock value by over $400 million through unauthorized bonuses and hidden loans.

What were the Enron fraud details and outcomes?

Enron concealed debts to hide losses; Lay, Skilling, and Causey faced charges; Lay profited from stock options (hundreds of millions); the company collapsed.

What happened in the WorldCom case?

CEO Bernie Ebbers convicted; WorldCom filed the largest bankruptcy in U.S. history; overstated profits by about $74.4 billion; Ebbers received a 25-year sentence.

Who is Sam Waksal and how is Martha Stewart connected?

founder of ImClone Systems who pled guilty to securities fraud; his actions led to Martha Stewart’s charges related to stock trading and obstruction of justice.

Define the term 'pump and dump' as discussed in the notes.

A market manipulation scheme where false or misleading information inflates a stock price so insiders can sell at a profit.

What are the two major forms of Internet securities fraud noted?

Market manipulation (pump-and-dump) and fraudulent offerings of securities via online schemes that inflate asset values and misstate risks.

Name three examples of green-collar crimes.

Illegal logging, illegal wildlife exports, and illegal fishing (also illegal dumping and illegal polluting).

Which environmental disasters illustrate corporate/environmental harm mentioned in the notes?

Asbestos-related deaths; BP oil spill in the Gulf (2010); Westray Mine explosion (Nova Scotia, 1992) and related safety legislation.

What does 'consensual crime' mean in the context of organized crime?

Profitable crimes (drugs, gambling, prostitution, pornography) with high profits and few victims reporting, creating vast illicit income.

Which organized crime groups in Canada are described?

Asian-based (Triads), East European/Russia-based, Italian-based (La Cosa Nostra), Aboriginal-based, and South American-based (Colombian cartels); Outlaw Motorcycle Gangs also involved.

How does Rational Choice Theory explain the emergence of organized crime?

People rationally seek protection or services from organized crime when legitimate options are limited, though this yields overall harm.

What is RICO and why is it significant?

Racketeer Influenced and Corrupt Organizations Act; a U.S. law used to prosecute and dismantle organized crime networks.

What are four general methods to control organized crime listed in the notes?

1) Legalization of illicit goods and services; 2) Police investigations with undercover work and surveillance; 3) Robust national laws to seize proceeds; 4) International cooperation and standards.