SOC208H5 Chapter Notes - Chapter 1: Edwin Sutherland, Insider Trading, Embezzlement
Document Summary
Chapter 1 & 2, case study enron. Edwin sutherland: coined the term white-collar crime. Regarded it as the monstrous amount of law-breaking by persons in position of power . White-collar crime had largely been ignored by academic criminologists who focused on street crimes committed by the poor and disadvantaged. When you engage in any sort of business transaction with any sort of professional, there is a potential for what we call white-collar victimization . It is always possible that the professional took advantage of your lack of expertise to defraud and cheat you in some way. E. g. 1 buying a house requires a lot of processes, people, and paperwork, therefore homebuyers trust professionals to guide them through it, and may sign papers without reading them. This blind trust can lead to fraudulent lending practices where mortgage brokers trick people into taking loans that are not in their best interest. These e. gs are different kinds of fraud.
