Word: fraud
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Dates: during 1990-1999
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...when it comes to financial misconduct -- stealing, cheating, fraud -- companies have a terrific out. They can settle the charges without admitting they've done anything wrong. In return for large wads of cash, the Securities and Exchange Commission (SEC) allows most corporate offenders to dodge acknowledgment of their offenses. This helps make up for the fact that companies can't blame alcohol or drugs or say their lousy childhood made them do it, and wiggle out of trouble the human...
...fine and community service. The few who actually go to jail serve their terms in relatively comfortable minimum-security prisons, get out early for good behavior and are often left with fortunes. Former junk-bond baron Michael Milken served only two years of a 10-year sentence for securities fraud, and, after shelling out more than $1 billion in fines and to settle civil lawsuits, is trying to make do with a piddling sum estimated at $300 million. He was even invited to lecture on ethics in business at ucla...
...that its members have developed the good business sense to abandon street crime for far more lucrative suite crime, which requires brains, training and access to important decisions from which blacks have long been excluded. Someday a black financier will have the power to commit a massive fraud that shakes stock markets around the world, get a slap on the wrist from the courts and walk away with millions. Blacks will have secured a new civil right: the equal opportunity to steal big-time, just like the white guys...
Charged with mail fraud and embezzlement, among other things, Representative Dan Rostenkowski has vowed to lick the charges
...City Councillor William H. Walsh is found guilty on 41 counts of Bank fraud and making false statements after facing trial for seven weeks. Despite numerous calls from his colleagues to step down, Walsh refuses to resign his seat...