Adelphia Lying, Cheating, and Stealing - 920 Words

Lying, Cheating and Stealing Lying, Cheating and Stealing White collar crime is not a victimless crime. People’s lives can be ruined through the loss of a job, loss of savings and loss of assets. It is hard to not hear about white collar crime when looking at news. While not a justification for illegal actions, pressure is very high for companies to perform well and show growth. This pressure can lead people to commit crimes to falsify results or to enrich themselves. Laws and regulation, such as Sarbanes-Oxley have been implemented to provide greater transparency and accountability. However, the crime has become more sophisticated and complex. Many examples of such crimes involve greed and feelings of entitlement. One such†¦show more content†¦Another son, Michael, only got 10 months under house arrest. In 2008, John and Timothy Rigas were back in appeals court, where one of their 23 fraud sentences was thrown out. Their lawyer argued that their prison terms were unfair. Rigas, 86, had his sentence dropped to 12 ye ars. I find it very interesting that white collar criminal punishment, many incidents involve vast sums of money, seem to get small punishment. Mr. Rigas only was sentenced to 12 years in prison. However, I do think that laws, and the application of those laws, should always be consistent. If someone is unhappy about a law then they should try to change the law. It is possible that if laws and punishment was more severe perhaps less white collar crime would be committed. I think the punishment in the Rigas case was fair. While it may seem light, the law was followed. The Rigas family no longer owns Adelphia and they are serving time in prison. At Mr. Rigas’ age it could very well be a life sentence. One ethical issue that comes to mind is the money John Rigas took from the company to support a lavish lifestyle. All the while he was concealing a huge amount of debt. This fraud cost investors a great deal of money when the share price completely collapsed (from $67 to 15 cents). While the crime is not violent, it caused a great deal of harm to people that lost the money involved. I feel that punishment for white collar crime will beShow MoreRelatedHow Ethics Influences Leadership1596 Words   |  7 Pagesour country’s early years and then true success will follow (Covey, 2004). To get a gauge on today’s societal concerns we only need look back a few years to find an alarming trend of leadership disasters such as Enron, Tyco, WorldCom, and Adelphia brought on by corporate greed and the lack of ethical standards in the business world. Though the signs of ethical decay did not rest with the business world, during this same period American’s also had to face such let downs as the Catholic Church’sRead MoreRole of Criminology in Determining the Emerging Patterns of Corporate Crime3821 Words   |  15 Pagessubject for any of them. 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Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesKnowledge 352 †¢ Personality 352 †¢ Message Characteristics 352 Barriers to Effective Communication 353 Filtering 353 †¢ Selective Perception 353 †¢ Information Overload 353 †¢ Emotions 353 †¢ Language 354 †¢ Silence 354 †¢ Communication Apprehension 355 †¢ Lying 355 Global Implications 356 Cultural Barriers 356 †¢ Cultural Context 357 †¢ A Cultural Guide 358 Summary and Implications for Managers 360 S A L S A L Self-Assessment Library Am I a Gossip? 336 An Ethical Choice The Ethics of Gossip at