CRJS 1001 Chapter Notes - Chapter 7: White-Collar Crime, Hooker Chemical Company, Bernard Ebbers
4 Dec 2016
School
Department
Course
Professor
Document Summary
These individuals lived in prosperous neighborhoods and were. What he was referring to (made this list on the brink of the second world war) Bribery of public officials directly or indirectly to secure favorable contracts and legislation. Misapplication of funds in receiverships and bankruptcies. They were inflating profits in financial statements and the company appeared to be more profitable than it really was, so the ceo, bernie ebbers was found guilty of fraud and sent to prison for 25 years. Another example: enron, they were an american energy company with billions of dollars in debt, they concealed their financial problems from shareholders, earning reports were exaggerated. They then filed for bankruptcy, the employees lost billions of dollars in retirement savings in enron stock. Enron executives prohibited their employees from withdrawing their retirement funds while at the same time, they sold their overvalued stocks at enormous profit.
