Corporate Crime

October 11, 2002 • Volume 12, Issue 35
Are tougher regulations and sentences needed?
By Kenneth Jost

Introduction

Former Enron CFO Andrew S. Fastow is escorted in handcuffs after surrendering to the FBI in Houston on Oct. 2, 2002. He was released on $10 million bond after being charged with fraud, money-laundering and conspiracy in connection with off-book partnerships he set up that allegedly fueled the energy giant's collapse. (AP Photo/David J. Phillip) Former Enron CFO Andrew S. Fastow is escorted in handcuffs after surrendering to the FBI in Houston on Oct. 2, 2002. He was released on $10 million bond after being charged with fraud, money-laundering and conspiracy in connection with off-book partnerships he set up that allegedly fueled the energy giant's collapse. (AP Photo/David J. Phillip)

After the collapse of corporate giants Enron and WorldCom, a federal crackdown on corporate fraud led to a steady parade of handcuffed, high-profile executives in front of TV cameras. In addition, executives once considered the darlings of Wall Street, including entertainment entrepreneur Martha Stewart, have been linked to possible insider trading or money-laundering. Despite the lurid headlines and dramatic “perp walks” on the nightly news, some experts question whether corporate crime is actually on the increase. Others say it is growing and that only stiffer penalties for white-collar crime, such as those contained in legislation passed in July, will halt the questionable practices. Still others suggest that civil litigation, regulatory reform and changes in corporate governance are the best ways to control wrongdoing.

ISSUE TRACKER for Related Reports
Crime
Feb. 10, 2017  Forensic Science Controversies
Feb. 05, 2016  Restorative Justice
Jan. 30, 2015  Central American Gangs
Aug. 29, 2014  Transnational Crime
Aug. 09, 2013  Sexual Assault in the Military
Oct. 26, 2012  Mexico's Future
Apr. 20, 2012  Criminal Records and Employment
Apr. 19, 2011  Honor Killings
Sep. 2010  Crime in Latin America
Jul. 16, 2010  Gangs in the U.S.
Jul. 17, 2009  Examining Forensics
Apr. 17, 2009  Wrongful Convictions Updated
Feb. 08, 2008  Fighting Crime
Oct. 11, 2002  Corporate Crime
Apr. 04, 1997  Declining Crime Rates
Dec. 10, 1982  Arson: America's Most Costly Crime
May 07, 1982  Helping Victims of Crime
Mar. 13, 1981  Violent Crime's Return to Prominence
Jul. 15, 1977  Crime Reduction: Reality or Illusion
Jan. 19, 1972  Crime of Rape
Jan. 22, 1969  Street Crime in America
Jan. 17, 1968  Burglary Prevention
Sep. 22, 1965  Compensation for Victims of Crime
Feb. 17, 1965  Criminal Justice and Crime Control
Oct. 18, 1961  Control of City Crime
Jun. 20, 1929  Crime and the Courts
BROWSE RELATED TOPICS:
Investment and the Stock Market
Retirement, Pensions, and Social Security