Essay: Nature of White Collar Crimes

Essay: Nature of White Collar Crimes
27/10/2011 Comments Off on Essay: Nature of White Collar Crimes Academic Papers on Business Studies,Sample Academic Papers admin

Sample Essay

An illegally created arrangement intending to give gains in terms of profits to its creators or defraud legal participants amounts to a scam whereas Ponzi schemes are arrangement meant to benefit earlier participants from the new ones. In this arrangement, assets or money are used to illegally award the so called earlier participants (Weisburd, et al.1999, p.23).

This nature of white-collar crime is confused with pyramid schemes. In pyramid schemes, a financial scam is established through promise of returns from revenues generated from registration fee levied on new members (Weisburd, et al.1999, p.25). This is more as a commission-based arrangement where a beneficiary is rewarded more depending on the number of new members he or she recruits. The last allegation of a white-collar crime is security fraud. It is detected as unlawful , illegal and unethical properties latent in its specific participation and activities which can be monetary expenditures such as bonds and stocks(Weisburd, et al.1999, p.34).

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