Free Essays on Corporate Fraud

Corporate fraud is becoming an increasing problem in today’s business world. Several top corporations are dealing with top CEOs and executives stealing from their companies. Millions of Americans care about morality in the marketplace (Mokhiber). However, few Americans realize that when they buy stock in some companies, or when they use a certain company’s products, they are in fact supporting a criminal corporation (Mokhiber). The big companies that are criminally prosecuted represent only the tip of a very large iceberg of corporate wrongdoing (Mokhiber). For every company convicted of fraud, there are hundreds of others who get away with it (Mokhiber). Because of their immense political power, big corporations have the resources to defend themselves in courts of law and in the court of public opinion. Few prosecutors are willing to subject themselves to the constant legal and public relations barrage that a corporation’s well connected and high priced legal ta lent can inflict (Mokhiber). The 1990s was a decade of booming markets and booming profits, and it was also a decade of rampant corporate criminality (Mokhiber). The start of the new millennium has been no different. Many corporate criminologists agree that corporate crime and violence inflicts far more damage on society than all street crime combined (Mokhiber). The FBI estimates that burglary and robbery both of which are considered street crimes cost the nation $3.8 billion a year (Mokhiber). Compare this to the hundreds of billions of dollars stolen from Americans as a result of corporate and white-collar fraud (Mokhiber). With all of the corporate fraud occurring in today’s business world, company directors are urged to take action on fraud suspicions. Convictions in high profile fraud cases can both deter potential fraudsters and also encourage management that it is worth taking action when they suspect they are victims of fraud (â€Å"Company†). The trend today... Free Essays on Corporate Fraud Free Essays on Corporate Fraud Corporate fraud is becoming an increasing problem in today’s business world. Several top corporations are dealing with top CEOs and executives stealing from their companies. Millions of Americans care about morality in the marketplace (Mokhiber). However, few Americans realize that when they buy stock in some companies, or when they use a certain company’s products, they are in fact supporting a criminal corporation (Mokhiber). The big companies that are criminally prosecuted represent only the tip of a very large iceberg of corporate wrongdoing (Mokhiber). For every company convicted of fraud, there are hundreds of others who get away with it (Mokhiber). Because of their immense political power, big corporations have the resources to defend themselves in courts of law and in the court of public opinion. Few prosecutors are willing to subject themselves to the constant legal and public relations barrage that a corporation’s well connected and high priced legal ta lent can inflict (Mokhiber). The 1990s was a decade of booming markets and booming profits, and it was also a decade of rampant corporate criminality (Mokhiber). The start of the new millennium has been no different. Many corporate criminologists agree that corporate crime and violence inflicts far more damage on society than all street crime combined (Mokhiber). The FBI estimates that burglary and robbery both of which are considered street crimes cost the nation $3.8 billion a year (Mokhiber). Compare this to the hundreds of billions of dollars stolen from Americans as a result of corporate and white-collar fraud (Mokhiber). With all of the corporate fraud occurring in today’s business world, company directors are urged to take action on fraud suspicions. Convictions in high profile fraud cases can both deter potential fraudsters and also encourage management that it is worth taking action when they suspect they are victims of fraud (â€Å"Company†). The trend today...