Crime In Society

7 Pages 1836 Words

is obtaining money under false pretenses, embezzlement, which is taking money illegally from one employer. Another example of white-collar crime is insider trading, this is where a person uses company information which is not available to the public to profit, by buying or selling company stock or by advising others to do the same. To give you an idea of how much damage white-collar crime actually does in the United States, the annual loss due to white-collar crime exceeds $100 billion dollars. Corporate crime is an illegal act committed by a corporation or others acting on its behalf. An example of corporate crime is known as gross negligence, which is knowingly producing faulty or dangerous products. A great example of corporate crime occurred with Ford Motor Company in the 1970 when the company continued to make and sell the Ford Pinto even though there was knowledge that it gas tank could explode in the event of being rear ended. Even after deadly accidents did in fact occur, Ford refused to support a recall deciding it would be cheaper to pay legal claims that would result from future accidents. After many lawsuits and public complaints the recall occurred and the Pinto was brought to an e...