BUS 265 Lecture Notes - Lecture 6: Money Laundering Control Act, Internal Revenue Code, Miranda Warning
Document Summary
Definition: constitutes the body of law defining wrongs against the society as a whole, business crimes, wrongs committed by a business in the process of doing business, wrongs against in the process of doing business. Federal statutes with criminal penalties: sarbaines oxley. [rico] racketeer influence and corrupt organization act: recent addition to federal statutes. Differences between general criminal law and business criminal law. Importance of prevention: duty of reasonable care, federal sentencing guidelines (and similar standards under state law) Mens rea: necessary mental state for committing a crime, doctrine of conscious avoidance, executives cannot consciously try to avoid knowledge about a actions and activities of those within the corp. Actus rea: actions or conduct that constitutes a crime. Larceny: arson, forgery, embezzlement (cid:862)white collar(cid:863) cri(cid:373)e, catch all for nonviolent business crimes, obstruction of justice. Destruction of evidence: mail & wire fraud, use mail to defraud the public, bankruptcy fraud.
