Law Do's and Don'ts
Find a good-standing attorney
"This website is about real attorneys who can help." - Bill Handel.     Welcome to HandelontheLaw.com, a premier attorney listing service from Radio & Records News/Talk Personality of the Year, Bill Handel.
handelonthelaw.com
Attorney Log In

Criminal Charges for Corporate Crime

HandelontheLaw.com Staff Writer

Tuesday, November 17, 2015



Criminal Charges for Corporate Crime
Corporate Crime

On September 9, 2015, Deputy Attorney General Sally Quillian Yates issued a memo entitled “Individual Accountability for Corporate Wrongdoing,” which represents the Department of Justice’s (DOJ) decision to place greater emphasis on individual corporate employees’ criminal culpability and pressure companies to cooperate. The memo can be read here: http://www.justice.gov/dag/file/769036/download

This change is at least partially due to the severe criticism of the DOJ’s levy of large fines against companies for culpable behavior but utter lack of action against individuals who directed and/or perpetrated the wrongful acts.

For one glaring example, four worldwide banks, including Citigroup, Barclays, JP Morgan Chase and Royal Bank of Scotland, pleaded guilty on May 20, 2015 to conspiring to manipulate dollars and euros. They were fined $5.4 billion by the U. S, though no individual was criminally prosecuted (yet), whereupon the banks wrote checks of shareholder monies to pay the fines and conducted business as usual.

The main problem with pursuing high-level white collar criminals is that their wrongdoing is so difficult to prove. Experts claim that these criminals are roughly the equivalents of Mafia dons, taking great care to avoid creating and/or to eliminate evidence of their culpability, while letting underlings to take the fall for criminal behavior.

The current Volkswagen debacle in which Volkswagen officials perpetrated deliberate deception on the American government an American consumers through the use of “defeat device” software that turns emissions equipment on for tests and off for real driving. According to experts, the development and use of such software must have been a high-level decision at Volkswagen. An explanation of exactly how the defeat devices work is can be viewed here: https://www.youtube.com/watch?v=YlwB9wHJKFs

Given the September 9th memo and Volkswagen’s brazenly fraudulent use of “defeat devices,” consumer advocates are watching the DOJ to see whether the government’s stated commitment to pursue individual white collar criminals is genuine.

By Kathy Catanzarite


Source: Kathy Catanzarite - Handelonthelaw.com Staff Writer

Note from HandelontheLaw.com: This article is to be used as an educational guide only and should not be interpreted as a legal consultation. Readers of this article are advised to seek an attorney if a legal consultation is needed. Laws may vary by state and are subject to change, thus the accuracy of this information can not be guaranteed. Readers act on this information solely at their own risk. Neither the author, handelonthelaw.com, or any of its affiliates shall have any liability stemming from this article.





FIND A LAWYER
LOCATION Zipcode Map

e.g. 91324 or Los Angeles, CA
AREA OF LAW Law Category Help
Please select one of the following...


Center for Surrogate Parenting 2