The White Collar Crime: The Ponzi Scheme in Sioux City, Iowa

I. Introduction Shirley Lee has lost all its savings as he is ready to retire when he retires. Many of her and her community have invested over $ 90 million in James Powell and Calwell Investment Company. Calwell and Powell are friends of many investors and are also in the same church as most communities, but this does not prevent two people from operating the largest Ponzi plan in Sue, Iowa . The victims were told that their money was invested in real estate; their money was transferred to the personal account of Calwell and Powell, and they spent money for family, vacation and family remodeling It was.

Life is very chaotic. Corruption is what developing countries call "corruption". Corruption in developed countries is known as "white-collar crime" (defined as fraud, bribery, Ponzi scheme, insider trading, corruption, cyber crime, copyright infringement, money laundering, identity theft and counterfeiting) I will. But despite the label, it is the same. In all of our efforts to classify people, label them, put them in clean boxes, and some people did not consider wearing them so clean. Who are you trying to make fun?

White collar crime was first created by criminal scholar Edwin Sutherland. Crime usually means nonviolent crime. Crime such as bribery, money laundering, fraud, electronic theft, embezzlement of public funds, copyright infringement, theft of personal information, tax evasion, insider trading etc. Experience shows that this term usually means a crime only available to white-collar workers. In other words, blue-collar workers are more likely to have no opportunity to wash money on an international scale. Such violations usually require the participation of senior bank staff.

White color crime is very serious. You can ask what is white-collar crime. White-collar workers are defined as general terms of crime, including commercial fraud, consumer fraud, fraud, insider trading in the stock market, misuse of public funds and other illegal business plans.Theoretical , You can also distinguish these crimes and criminals from physical crimes that may be committed by "blue collar workers".

Contrary to many people thinking, white-collar crime is not a crime without victims. You can destroy the company with one fraud, destroy the house by saving lives, or spend billions of dollars (or 3 dollars like the infamous Enron case). According to FBI, today's fraud, including Bernie Madoff's "Ponzi scheme", is becoming more complex than ever. Wealthy elite offenders like Madoff and WorldCom's Bernie Ebers can hire the world's best defense attorneys to represent them and leading public relations companies turn their criminal behavior into charity and good will . Poor street criminals can not afford such luxury goods