Definitions
what are white-collar crimes
Economic offenses characterized by deception or abuse of trust and often involving the use of computers or other modern technologies.
______ is the crime of disguising illegal income to make it appear legitimate
Money Laundering
what is an example of something that has to do with health, that can be considered identity theft?
Stealing one's medicare
what is the term Churning applied to?
transactions made in a customer’s account without regard to the customer’s investment objectives; rather, they are made simply to generate commissions for the broker.
what statue makes it a crime to use mail to defraud someone?
The Federal Mail Fraud Statue
what is organized crime
Syndicates involved in racketeering and other criminal activities.
In prosecutions under ____, the defenses of entrapment, double jeopardy, and selective prosecution appear more frequently than in other situations
RICO
how many people were victimized by identify theft in 2010?
8.1 million
what is a "Ponzi Scheme"
a form of securities fraud in which unknowing investors are paid abnormally high rates of return using money from new investors.
why did congress enact the wire fraud statue?
o regulate interstate commerce.
what is identity theft
The crime of using someone else’s personal information; such as their name, social security number, or credit card number. without their permission to commit fraud or other crimes.
Courts have held that to obtain a conviction, the government must prove the existence of a scheme committed by the defendant with a specific intent to defraud through use of the _____ or some other interstate commercial carrier.
U.S. Postal Service
by what year had most states had enacted specific statutes criminalizing identify theft and fraud, but even without specific statutes such activity could be prosecuted under statutes proscribing theft and fraud.
2003
$50 billion
what section makes it a felony to willfully aid and assist another in a material falsity?
Section 7206
what is insider trading
Transactions in securities by a person who operates in-side a corporation and, by using material nonpublic information, trades to his or her advantage without first disclosing that information to the public.
Federal statutes criminalize _______, which is defined as the knowing and fraudulent concealment of assets, avoiding distribution of nonexempt assets, taking false oaths, and related conduct in connection with bankruptcy proceedings.
bankruptcy fraud
in what case during 2007 did one use another persons name and SSN to get a job with Terra Harvest Foods?
People v. Montoya
what is an example of tax fraud? (think of IRS)
one lying about income to convince the IRS that they can't afford to pay the tax.
what former investment brokers were charged with conspiracy in 2004
Jeffrey Skilling and Kenneth Lay
what is the False Statements Act
A federal statute making it a crime for a person to knowingly make a false and material statement to a U.S. government agency to obtain a government benefit or in connection with performing work for the government.
Shortly after ____ Americans were again shocked by allega-tions of fraud affecting the rights of employees and shareholders of once–highly regarded corporations.
9/11
what act made it a felony to "knowingly tranfser, possess or use, without lawful authority, a means of identification of another person with the intent to commit unlawful activity
what commission rule proscribes using any “deceptive device in connection with the purchase or sale of any security,” in contravention of rules promulgated by the SEC.
the Securities and Exchange Commission Rule
what case was centered around a used-car distributor, rolling back car's odometers and mailing the fake title applications to the state transportation department.
United States v. Schmuck