BUS 255 Unit 2 DB

Unit 2 Discussion Board (Student Name

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Benefits of Distance Learning

Assignment Name : Unit 2 Discussion Board

Deliverable Length : 3-5 paragraphs

Details : When one thinks of crime , it is usually with individuals in mind . However , companies commit crimes too . Review the articles below and respond to this question , citing the articles you reviewed : Do the company 's actions fit the definition of a crime ? If so , what kind , a felony or a misdemeanor ? Why or why not

Articles

Ex-WorldCom Chief Ebbers Convicted of

Fraud

http /accounting .smartpros .com /x47410 .xml

Reliant Energy Services , Inc . and Four of its Officers Charged With Criminal Manupulation of California Electricity Market

http /www .fbi .gov /dojpressrel /pressrel04 /energy040804 .htm

This US Department of Justice opinion might be useful to you : Principles of Federal Prosecution of Business Organizations

Do the company 's actions fit the definition of a crime ? If so , what kind , a felony or a misdemeanor ? Why or why not

In both the cases given for reviews , Ex-WorldCom Chief Ebbers Convicted of Fraud ' and Reliant Energy Services , Inc . and Four of its Officers Charged with Criminal Manipulation of California Electricity Market , the companies /individuals actions fit into the definition of a crime . After reviewing both the articles , it can be said that both the cases are serious crimes that was performed by the companies /individuals to gain advantages and profit against the law , which should be followed Because of this many number of people affected /suffered and this is the case of the crime against the Government and falls under felony types

Ex-WorldCom Chief Ebbers Convicted of Fraud

Bernard Ebbers , who built WorldCom from a humble Mississippi long-distance firm into one of the nation 's biggest telecommunications conglomerates , was convicted Tuesday of engineering the colossal accounting fraud that sank the company

A federal jury in Manhattan deliberated eight days before returning guilty verdicts on all counts - one count of conspiracy , one count of securities fraud and seven counts of false regulatory filings . The crimes carry up to 85 years in prison

From the above two sentences taken from the article , it can be said that Bernard Ebbers has done a serious crime for which he can be sentenced up to 85 years of imprisonment . This is a case of serious crime of type felony , which is against the Government . Because of Bernard Ebbers actions , the investors in the company , stock market and the government suffered . The star witness against Bernard Ebbers , Scott Sullivan (pleaded guilty to fraud , admitted to essentially masterminding the fraud and cooperated with prosecutors in the WorldCom case , the former finance chief , claimed Ebbers repeatedly ed him to "hit our numbers " - a command , to falsify the books to meet Wall Street expectations . In addition , prosecutor William Johnson said , Pressure from the loans , the money he stood to lose and the power of the CEO 's job combined to form a `perfect storm of corruption ' that drove Ebbers to commit fraud . Because of Ebbers act , The...