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White Collar Crime

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CALIFORNIA | LOCAL
March 28, 1995 | MYRON LEVIN, TIMES STAFF WRITER
The Northridge earthquake was a beacon for crooked contractors. The region's real estate skid, with its epidemic of foreclosures, has been exploited by hustlers with deceptive schemes to save people's homes. These are just two recent examples of why Southern California is known in enforcement and judicial circles as a favorite haunt for scam artists and a spawning ground for white-collar schemes.
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NEWS
February 27, 2014 | By Scott Martelle
When is a crime not a crime? Apparently when it happens on Wall Street. Ever since the financial meltdown of 2007, prosecutors and market regulators have struggled with how to handle evidence of a wide range of chicanery by Wall Street financial firms and banking giants - most of which are flourishing again, by the way, while American workers continue to struggle with high unemployment, high underemployment and stagnant wages. Some cases have been brought, but the federal government almost invariably lets the offending bank or firm off with a fine, and no admission of guilt.
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BUSINESS
March 23, 1989 | From Associated Press
White-collar crimes, not poor economic conditions or deregulation, are the root cause of the savings and loan crisis, congressional auditors said Wednesday. The General Accounting Office told the House Judiciary Committee's criminal justice subcommittee that it had examined 26 insolvent thrift institutions in eight states and found evidence of fraud or abusive insider dealing in each.
OPINION
January 4, 2014
Re "Why execs, not companies, should face prosecution," Column, Jan. 1 Michael Hiltzik and U.S. District Judge Jed Rakoff get it right. The lack of will to prosecute crooks goes back at least a decade, when our anti-tax members of Congress made the government too weak to prosecute the privileged and wealthy. White-collar crime has been effectively decriminalized. Most instances of government weakness can be blamed on inadequate funding. Part of this is because we have the poor and middle class hit the hardest by sales taxes while a transaction tax that hits the investor class is a no-no.
BUSINESS
May 6, 1988 | ROBERT A. ROSENBLATT, Times Staff Writer
Insisting that tougher penalties would deter price fixing, the chief of the Justice Department's antitrust division will formally propose today that judges impose much longer jail sentences on errant executives and substantially bigger fines against corporations that engage in illegal anti-competitive practices. "This country is fed up with white-collar crime and wants judges to start treating white-collar criminals like the crooks they really are," Assistant Atty. Gen. Charles F.
BUSINESS
August 28, 1989 | Gregory Crouch, Times staff writer
Federal and local law enforcement authorities say a day rarely goes by in Orange County when an individual or corporation doesn't become a victim of white-collar crime. Southern California is considered the center of financial fraud, home to more con men than any other region of the United States. The perpetrators range from corporate executives pilfering company funds to small-time thieves who steal investors' money simply by promising them sky-high returns.
BUSINESS
December 22, 1988 | SCOT J. PALTROW, Times Staff Writer
The long-expected agreement by Drexel Burnham Lambert Inc. to settle criminal charges against the investment firm is only the latest episode in U.S. Atty. Rudolph W. Giuliani's personal crusade against flagrant cheating at the highest levels of Wall Street. In recent months, there have been what nervous brokers and investment bankers view as a blizzard of indictments, including the first use of the Draconian federal racketeering statute against securities firms.
BUSINESS
February 20, 1989 | WILLIAM K. KNOEDELSEDER Jr., Times Staff Writer
Drugs, gangs and drive-by shooting may grab the headlines, but the most serious crime problem in the Los Angeles area, according to law enforcement officials, is white-collar crime. State and federal investigators say white-collar crime in Los Angeles has been on a rapid rise throughout the 1980s, giving the Southland the dubious distinction of being dubbed the fraud capital of the nation. "That's what we are," says U.S. Atty. Robert C.
CALIFORNIA | LOCAL
December 2, 1992 | DANA PARSONS
In "Midnight Run," Robert DeNiro plays a modern-day bounty hunter and Charles Grodin an embezzler. DeNiro is transporting Grodin cross-country to stand trial when they stop at the home of DeNiro's estranged wife and daughter. Seeing Grodin handcuffed, the young girl says, "You don't look like a criminal." In an earnest, almost reassuring tone, Grodin replies, "I'm a white-collar criminal."
BUSINESS
February 20, 1989 | Maria L. La Ganga, Times Staff Writer
When Marcy J.K. Tiffany became director of the Los Angeles regional office of the Federal Trade Commission, there were only two lawyers and an investigative and support staff of five. It was July, 1987, and the commission had lost ground because of budget cuts throughout the 1980s. Tiffany's first task was to build the staff to its current level of 19, including 10 attorneys, she said. Her second was to "start pulling cases together," and she had a lot to choose from.
WORLD
December 11, 2013 | By Aoun Sahi and Mark Magnier
ISLAMABAD, Pakistan - Pakistan's controversial chief justice, who helped oust President Pervez Musharraf and broaden human rights even as critics accused him of overstepping his mandate, retired Wednesday. The assertive Chief Justice Iftikhar Mohammed Chaudhry, who turns 65 on Thursday, leaves behind a mixed legacy. He's credited with strengthening the judiciary and making it a force to be reckoned with among politicians and bureaucrats. But he was also instrumental in the resignation of the popularly elected Prime Minister Yousuf Raza Gilani, forced to quit after refusing to reopen a corruption case against then-President Asif Ali Zardari at the behest of the Supreme Court.
BUSINESS
September 24, 2013 | By Walter Hamilton
Why hasn't anyone on Wall Street gone to prison for the 2008 financial crisis? Perhaps because the FBI is recommending far fewer white-collar prosecutions. The FBI has recommended only 2,001 white-collar cases for criminal prosecution so far this fiscal year, on pace for a nearly 7% drop from last year, according to a report Tuesday by a research group affiliated with Syracuse University. It would be one of the lowest years on record and would extend a years-long trend, according to government data obtained by the Transactional Records Access Clearinghouse.
OPINION
July 28, 2013 | By Sarah Chayes
"This is a great time to be a white-collar criminal. " An assistant U.S. attorney I know startled me with this remark in 2002. The bulk of her FBI investigators, she explained, had been pulled off to work on terrorism, which left traditional crime investigations sorely understaffed. Little has changed since then. For more than a decade, the U.S. government has been focused on one type of threat above all others: terrorism. This obsession has not only been used to justify an erosion of Americans' privacy, it has opened them to other dangers and, paradoxically, made it easier for terrorists to achieve success.
NEWS
January 30, 2013 | By Richard A. Serrano
WASHINGTON - Assistant U.S. Atty. Gen. Lanny A. Breuer, who made his mark ramping up the prosecution of white-collar crime and overseeing the government's Gulf of Mexico oil spill investigation, announced he is soon leaving his post as one of the longest serving heads of the Justice Department's Criminal Division. While Breuer, 54, had been expected to depart after serving four years in President Obama's first term, Rep. Darrell Issa (R-Vista), chairman of the House Oversight and Government Reform Committee, noted that Breuer, who was formally admonished in the Fast and Furious scandal, has now become the third top Justice official to step down after the department's blistering inspector general's report into the flawed gun-tracking operation.
BUSINESS
January 5, 2013 | Michael Hiltzik
If you're concerned about corporate crime, 2012 looked like a pretty successful year for the good guys. The Thousand Oaks biotech giant Amgen paid $762 million in fines and penalties and pleaded guilty to a federal charge related to illegal marketing of its anemia drug Aranesp. Britain's GlaxoSmithKline and Illinois-based Abbott Laboratories paid $3 billion and $1.5 billion in government penalties, respectively, in connection with their off-label promotions of blockbuster drugs.
ENTERTAINMENT
February 26, 2012 | By Charles McNulty, Los Angeles Times Theater Critic
A funny thing happened whenever I set out to see Meryl Streep in “The Iron Lady.” I'd invite one of my moviegoing pals to join me and then find myself later that evening at “Shame,” “My Week With Marilyn” or the glorious “Pina.” The reviews for “The Iron Lady” weren't all that glowing, but Streep came in for her usual chorus of hosannas. For some reason, this wasn't proving to be much of a lure. Even after the Oscar nominations came out, with two-time winner Streep making history with her 17th nomination, “The Iron Lady” was still a no-go with them.
OPINION
January 4, 2014
Re "Why execs, not companies, should face prosecution," Column, Jan. 1 Michael Hiltzik and U.S. District Judge Jed Rakoff get it right. The lack of will to prosecute crooks goes back at least a decade, when our anti-tax members of Congress made the government too weak to prosecute the privileged and wealthy. White-collar crime has been effectively decriminalized. Most instances of government weakness can be blamed on inadequate funding. Part of this is because we have the poor and middle class hit the hardest by sales taxes while a transaction tax that hits the investor class is a no-no.
CALIFORNIA | LOCAL
September 22, 1985
The item on white-collar crime in Bill Ritter's Aug. 27 "Bottom Line" column in the Business pages deserves a more descriptive title and much wider readership. Our preoccupation with violent crime makes us disregard or minimize the devastating effect of the much larger white-collar segment of lawlessness. It's understandable. People who commit white-collar crimes are part of The Establishment, often staunch pillars of it. The cost of white-collar crime is often spread thinly over many people.
CALIFORNIA | LOCAL
September 1, 2011 | By Victoria Kim, Los Angeles Times
The FBI has appointed a former accountant with two decades' experience investigating white-collar crime, including healthcare fraud and political corruption, as the new head of its criminal division in Los Angeles. Timothy J. Delaney has been named special agent in charge of the Los Angeles field office's criminal division, the bureau announced Wednesday. Delaney, one of four special agents in charge, will oversee about 400 agents and other investigators on criminal inquiries, including drug and gang cases, organized crime, white-collar crime and civil rights violations.
BUSINESS
August 11, 2011 | By Tiffany Hsu, Los Angeles Times
Redemption for Bernard L. Madoff, sitting in a North Carolina prison serving a 150-year sentence for financial fraud, is unlikely. But his pants still have a chance. Wall Street denizens are snapping up iPad covers made from the Ponzi scheme mastermind's clothes, which were sold at auction last year. Proceeds benefit victims of white-collar crime. A new company, Frederick James, offers certificates of authenticity along with the lightweight sleeves that are designed to protect the tablets from scratches, though not from drops like, say, the kind that hit Madoff victims' bank accounts.
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