White-Color Crime (Essay Sample)

White Collar Crime Student's Name Institutional Affiliation Course’s Name Professor’s Name Date Due White-Collar Crime White-collar crime is a form of robbery perpetrated by a highly ranked individual in a society or corporate and awarded high respect. Businesses and similar corporates have encountered such crimes in various departments. Such crimes endanger employees’ lives and credibility and may cause pollution problems for the community. Moreover, the activities may lead to the destruction of organizational reputation. A common example of a white-collar crime is the Worldcom accounting scandal orchestrated by Bernard Ebbers in 2000 (Petra & Spieler, 2020). The fraudster was the telecommunication’s CEO, and the company’s stock was declining through the years due to the unprecedented activities in the accounting department. The CEO used the company’s accounting department to lure more investors into funding its operations with misguided financial records that suggested its good performance. The department frequently underreported line costs and inflated revenues. The company eventually registered a fraud of billions and was declared bankrupt. Ebbers then resigned in the following year and received 25 years imprisonment. The theory of differential association is one that Edwin H Sutherland created in his quest to understand criminology. The theory states that crime is a learned activity and involves special skills (Jordanoska & Schoultz, 2019). Worldcom fraud has supported this feature by incorporating complex accounting techniques to issue propaganda. Understanding account concepts helped the company to malicious information to influence investment. Sanctioning of the company and eventual declaration as bankrupt was just and deserved as it was a form of theft. Furthermore, making E...