CONTENTS I. Introduction 2 II. Allen Stanford Ponzi Scheme 3 III. The victims 4 IV. Arraignments 5 V. Forfeitures by the Government 5 VI. Conclusions 5
Works Cited 7
Introduction The concept of white-collar crime refers to financial and nonviolent criminally punishable action, which is perpetrated by the business or by the government officials (Friedrichs, 1992, p. 21). This term was coined by one of the most renowned modern sociologists Edwin Sutherland, who used this term to describe a crime, which is committed by ‘a public employee or a high-ranked business man by using his occupation’ (Shapiro, 1990, p. 348). Nowadays, the ...
