White Collar Crime Case Study

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James Norton Jr. AC1503031 CJ440.4.1 White Collar Crime Assignment 8_08 The Cost of White Collar Crime December 9, 2016 White-collar crime is projected to cost the United States citizens and the government over $300 billion every year. The phrase "white-collar crime" came into existence in the early twentieth century. The crimes are typical of deception, malice, or breach of confidence do not rely on the application of threats or physical harassment. According to the federal bureau of investigation, the three most critical areas of cost connected with white-collar crimes are that they typically destroy companies, tear down people's savings, and leads to loss of investors' finance. The crimes also result in loss of taxpayers' money used in…show more content…
They explained that the services were free for Medicaid beneficiaries. The women then used the children’s Medicaid reference numbers to charge Medicaid for behavioral and mental fitness check-ups which were never offered. In reality, they were not even qualified Medicaid health consultants but filed the dubious claims through other providers. In about three years Brewton and Cannon filed more than $3 million of fraudulent Medicaid claims. In 2014, after accepting to plead guilty of health care scam, plot, and exaggerated identity theft, Brewton was found guilty and was sent to spend nine years in jail, and directed to give over $7 million in compensation to Medicaid, and over $570,000 to the internal revenue service. Cannon, who also plead guilty was sent to spend 102 months in a penitentiary and directed to pay more than $2.5 million in…show more content…
These frauds are also known as 419 scams. There has been the establishment of the section in the Nigerian criminal code concerning malicious practices which involve deceiving victims to pay out finances by a future promise of a payoff. The fraudsters send emails to his victims with a message informing them of some financial hand-out, mainly represented as the riches of a distant family member or the remnants of some illegitimate wealth. All the victim is required to do to claim the money is give some authentication information and pay a small amount of personal expense. The temptation of unlabored wealth has found many falling for the fraudsters trap with some people making a loss of even millions of dollars. Three convicted criminals were sent to prison after pleading guilty in 2008 to federal charges of running a scheme that targeting victims from the US with getting rich quick promises. The suspects were jailed by a district judge at a federal court in New York. The defendants pleaded at fault to one count of scheming and seven counts of wire

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