White Collar Crime And Its Effects On Society Essay

In 1939, American sociologist Edwin Sutherland introduced the phrase â€Å"white-collar crime†. White-collar crime is a nonviolent crime committed by a business or large corporations. They are usually scams or frauds to gain wealth in society. The people who are guilty of this crime lie, cheat and steal from investors of their company or business. Even though these crimes are non-violent, they have major impacts on the society. Their companies become non existent and families get destroyed. All of their life savings and savings for their children get taken away, and they become bankrupt. Not only does it affect their families, the investors who believed in their business lose millions or even billions of dollars. For this assignment I will examine a company that committed a white-collar crime and explain what that company did or how they were caught. Then, I will describe the impact that crime had on our society. Also, how do white-collar crimes differ from other for ms of crimes and deviant behavior. The case of white-collar crime I chose to educate myself on was the Enron scandal. The Enron corporation was an energy and services company in Houston, Texas. In just fifteen years, Enron became the seventh largest company in the world. They were one of the worlds largest electricity and natural gas companies. According to CNN, in 2000, the company claimed to have made around 111 billion dollars in revenue. During that time, a single share was going for $90.75.Show MoreRelatedWhite-Collar Crime Essay1057 Words   |  5 PagesToday, worldwide, there are several thousands of crimes being committed. Some don’t necessarily require a lethal weapon but are associated with various types of sophisticated fraud, this also known as a white-collar crime. These crimes involve a few different methods that take place within a business setting. 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