Corporate Crime
Corporate crime deals with the company as a whole. The crime benefitting the investors or the individuals who are in high positions in the company or corporation. The relationship white-collar crime has with corporate crime is that they are similar because they both are involved within the business world. Their difference is that white-collar crime benefits the individual involved, and corporate crime benefits the company or the corporation.
One well-known insider trading case in the United States is the ImClone stock trading case. In December 2001, top-level executives sold their shares in ImClone Systems, a pharmaceutical company that manufactured an anti-cancer drug. The U.S. Securities and Exchange Commission investigated numerous top-level executives, as well as Martha Stewart, a friend of ImClone's former chief executive who had also sold her shares at the same time. The SEC reached a settlement in 2005.
Read more about this topic: White-collar Crime, Relationship To Other Types of Crime
Famous quotes containing the words corporate and/or crime:
“Power, in Case’s world, meant corporate power. The zaibatsus, the multinationals ..., had ... attained a kind of immortality. You couldn’t kill a zaibatsu by assassinating a dozen key executives; there were others waiting to step up the ladder; assume the vacated position, access the vast banks of corporate memory.”
—William Gibson (b. 1948)
“Each man’s private conscience ought to be a nice little self-registering thermometer: he ought to carry his moral code incorruptibly and explicitly within himself, and not care what the world thinks. The mass of human beings, however, are not made that way; and many people have been saved from crime or sin by the simple dislike of doing things they would not like to confess ...”
—Katharine Fullerton Gerould (1879–1944)