Analysis of White-Collared criminals with Power Theory Essay

Analysis of White-Collared criminals with Power Theory - Essay Example Chase Manhattan is now part of New York-based JPMorgan Chase & Co., the third-biggest U.S. bank by assets. Crime: Bennett is charged with defrauding investors of Refco Inc., a financial trading company to a tune of around 550 million Dollars by concealing the information that an "INVESTOR" is due to the company. In this case, the unnamed investor is Bennett himself. Bennett takes the company's money on roller coaster with junctions being Liberty CCS, RGH, Refco, and the money finally lands at RGH, which is owned by Bennett. When this roller coaster ride of money is bought into light in October 2005 which consequently leads to his arrest and plunge of 45% of the company's share value resulting in a $1bn loss in market value, he then surrendered around 450 million dollars and thus enabling himself of pleading not guilty to the court. A perfect case of White-Collared crime. Gelegenheit macht Diebe - Opportunity creates Thieves - indicating that it is opportunity that causes us to misbehave, not any particular sort of depravity. And opportunity is, of course, nothing but another word for the seemingly critical volume of power. Even a confirmed thief will not steal if he has no chance of getting away with it. On the other hand, even an honest man will misbehave if he has the opportunity, the power to do so. 2) For no one co