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Federal Statutes: White-Collar Crime Presentation

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Updated: Jun 10th, 2022

The Sherman Act

  • The Sherman Act is a part of Antitrust Act;
  • The Act offers criminal sanctions on individuals who undertake contracts or engage in any forms of conspiracy in restraint of commerce (American Bar Association, 2002).

A plaintiff must demonstrate that:

  • A party was engaged in a conspiracy;
  • The conspiracy resulted or potentially resulted in an unreasonable restraint of trade or commerce;
  • The restrained trade or commerce was interstate in nature.

In a criminal antitrust case prosecution, the prosecutor must prove that the defendant:

  • Intended to restrain commerce;
  • Acted with knowledge of the apparent consequences of their actions (American Bar Association, 2002).
The Sherman Act The Sherman Act The Sherman Act

The Computer Fraud and Abuse Act

  • The Act covers the Internet or computer fraud.

A defendant must have used a computer and/or the Internet to:

  • Commit theft.
  • Cause damage to computers with viruses.
  • Deprive citizens or financial institutions of money or services.

The government must prove the following:

  • Access to confidential federal information
  • Access to information pertaining to financial records of financial institutions and consumer reporting agencies.
  • Access to any computer of the US departments or agencies affected the government’s operations with such computers.
  • Access to a protected computer without permission.
  • Exceeding authorized access levels with the intent to defraud and obtain anything of value.
  • Access to a protected computer with the intent to cause damage to the computer.
  • Trafficking passwords or other data to allow unauthorized access.
  • It entails extortion and threats to cause damage to a protected computer via transmission in Interstate or foreign commerce.
  • If found guilty of the felony, the offender may get up to 20 years of a jail term and fined up to $250,000 (The Law Office of Bradley S. Sandler, 2012).
The Computer Fraud and Abuse Act The Computer Fraud and Abuse Act The Computer Fraud and Abuse Act The Computer Fraud and Abuse Act

The Comprehensive Crime Control Act

  • The Act aims to deter bank fraud.
  • The objective of the suspect is to achieve a desired result by deception, trickery, concealment and/or dishonesty.
  • The prosecutor must prove that the accused intended to defraud a financial institution federally insured by the United States Government.

The prosecutor must prove beyond a reasonable doubt that:

  • The accused knowingly committed or attempted to execute a scheme or plan by means of false or fraudulent pretenses, representations or promises;
  • The accused acted with the specific intent to defraud;
  • False pretenses, representations or promises that the accused made were material.
  • The accused placed the financial institution at risk for civil liability or financial loss.
  • The financial institution was insured by the Federal Deposit Insurance Corporation or an equivalent agency as defined by the law.
  • Any guilty party may be imprisoned up to 30 years and fined up to $1,000,000 (The Law Office of Bradley S. Sandler, 2012).
  • The punishment is per transaction and therefore, the guilty party may receive more than 30 years based on the number of offenses.
The Comprehensive Crime Control Act The Comprehensive Crime Control Act The Comprehensive Crime Control Act

The Money Laundering Control Act of 1986

  • The Act was enacted to deter organized crime and narcotics traffickers from money laundering practices.
  • The jury must prove beyond any reasonable doubt that the accused concealed the existence, illegal sources or illegal applications of incomes and disguised such incomes to make them appear legitimate.
  • The Act offers criminal sanctions for any persons who perform a monetary transaction knowing or with a reason to know that the funds involved were derived from unlawful activities (O’Sullivan, 2012).
  • Initially, the Act targeted “the lifeblood of organized crime”.
  • Today, prosecutors use it against several corporations and otherwise legitimate businesses because it allows them to focus on criminal conducts such as tax offenses.
The Money Laundering Control Act of 1986 The Money Laundering Control Act of 1986 The Money Laundering Control Act of 1986

Conclusion

  • White-collar crime involves several forms of crimes committed through deceit and mainly motivated by financial gain.
  • Individuals facing prosecution for any forms of white-collar crimes require a competent defense team because such crimes are considered serious.
Conclusion

Credibility of Sources Used

Sources used are credible:

  • American Bar Association (ABA) offers a list of resources for different States.
  • The Law Office of Bradley S. Sandler is a credible law firm that provides a defense team for accused in Beverly Hills, California and the State of Los Angeles.
  • O’Sullivan covers a variety of substantive areas of white-collar crimes alongside procedural issues in such cases.
Credibility of Sources Used

References

American Bar Association. (2002). White Collar Criminal Statutes. Web.

O’Sullivan, J. R. (2012). Federal White Collar Crime: Cases and Materials (5th ed.). New York: West Publishing.

The Law Office of Bradley S. Sandler. (2012). Federal White Collar Crimes. Web.

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