Wht Col Cr Ex 2
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white collar crimes that violate trust have the potential to create
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social disorganization
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The quiz show scandal involved
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the contestants being fed answers
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Who was the target of charges in the quiz show scandal
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the contestants.
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what is payola
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bribe to radio stations.
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Allen fried rationalized his payments by saying
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they were payments like lobbyist get
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Who did Dick Clark promote
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Elvis
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Who did the NY Grand Jury indicted
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cbs.
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In 2005 Warner Brothers music group and ___ were indicted
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Sony
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Sun Myung Moon was the leader and founder of the Unification Church and an activist against
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communism
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What did faith healer Peter Popoff not use in his practice
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fake healings
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Jimmy Swaggart was dismissed from his congregation and standing because
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of his dealings with prostitutes
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Jim and Tammy Faye Bakker were caught for
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outrageous personal expenses
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Religious affinity scams involve who as the victim
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the members, often by other members of the same church
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What would a possible solution to religious corruption be
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outside board of directors
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Paper Entrepreneurism places a big emphasis on
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trading
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Insider trading involves who/what
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nonpublic information given to someone in or4der to buy/sell stock
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R. Foster Winans was caught doing what
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leaking info that was not public
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Arbitrage involves what
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dealing with the difference between high and low stocks
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Ivan Boesky's actions showed what damage to the stock market
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billion dollar losses
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What was Ivan Boesky's involvement that got him into trouble
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Arbitrage
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Michael Milken's dealings were in
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low risk high return junk bonds
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What is the definition of criminogenic
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a culture conducive to crime
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Michael Milken agreed to a sentence of
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2 years in prison and a 6 million dollar fine
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What idea means less regulation is better for the industry
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laissez faire
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What can the S&L crisis be blamed on
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Junk Bond Scam
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Doctors on wall street were driven by hedge funds to take advantage of price swings known as
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IPO's initial price offers
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In 2002, Enron's annual report claimed to have
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tripled
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California and _____ stuck it to the market
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Enron's Skilling/Lay
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The excuse given by Enron's Ken Lay was
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an accounting error
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Ken Lay borrowed $700 million from Enron's company stock to buy ____ without publicly announcing it
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Adelphia
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Enron's board of directors were charged with
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insider trading
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The conflict of interest faced by Enron's whistle blower was
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a $20 mil partnership
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Of the common white collar schemes, what did Enron not conduct
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Ponzi Scheme
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Arthur Andersen demonstrated its culpability in
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its stock retentions policy
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What was Arthur Andersen's downfall
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they agreed to member demands
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The Sarbanes-Oakly Act forces one to
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assume personal responsibility
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Define Cherry Picking
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cheating pension funds
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Give an example of premium diversion
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insurance company uses premiums for things other than covering claims
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Multiple Employer Welfare Arrangement (MEWA) failed because
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each state had their own way of dealing with it and little regulation
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Define offshore
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a location other than the US
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What is economic citizenship
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when a non citizen has funds in a bank and uses those funds to encourage/help them gain citizenship into that country
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what are lan flips
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raising the price of a piece of land above its market value and selling it.
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what is a nominee loan
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where a person asks another person to purchase something for them, not in their name.
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what is reciprocal lending
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when a lender gives a loan to a lendee then the lendee pays back the loan and the lender then borrows from the lendee
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What is linked financing
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the practice of depositing money into a financial institution with the understanding that the financial institution will make a loan conditioned upon receipt of the deposits
