While the enforcement priorities of the federal government can change based on everything from real world events to political pressures, there is at least one area in which the Department of Justice's resolve has never wavered: white collar crime.
Local and state court systems across the nation have increasingly come under fire from advocacy groups for using preset bail systems, which they argue are designed to unfairly punish indigent defendants charged with minor offenses, keeping them behind bars in furtherance of no viable public safety interest.
In a series of ongoing posts, our blog has been discussing insider trading, a white collar crime that has the decidedly odd distinction of being both universally known and universally misunderstood. In recognition of this reality, we've spent some time providing some basic background information on this topic in order to answer questions and clarify misconceptions.
Last week, our blog started exploring some basic background information about insider trading, a widely reported white collar crime that is often not fully comprehensible to those outside of legal circles and the law enforcement community. In today's post, we'll continue our efforts to answer any lingering questions about this somewhat arcane topic.
A few weeks ago, our blog discussed how Phil Mickelson, one of golf's most recognizable names, was forced to cut a rather sizeable check to the Securities and Exchange Commission over allegations that he profited from, but did not actually commit, insider trading.
At this time of the year, most avid golfers are not only regularly hitting the links, but also paying close attention to the PGA Tour Rankings and other televised events. Indeed, their eyes will be glued to the television from June 16 to June 19 watching the U.S. Open, one of the sport's four majors.
Over the last few years, it's become increasingly apparent that the United States is facing a very real problem in terms of the overall size of its federal prison population. Indeed, the Justice Department recently warned that the amount of money needed to fund the federal prison system is now threatening to surpass the amounts allocated for both the Federal Bureau of Investigation and the Drug Enforcement Administration.
As we started discussing last week, while many people are now very familiar with the term Ponzi scheme thanks to recent media coverage of certain high-profile federal cases, they may nevertheless have only a limited understanding of what a Ponzi scheme actually entails.
Thanks to recent high profile federal cases, including the prosecutions of Bernie Madoff and Scott Rothstein, more people than ever now know the term Ponzi scheme. However, this knowledge often doesn't extend beyond a baseline understanding that a Ponzi scheme is essentially some manner of white collar crime.
After years of deliberation, negotiation and stagnation, a bipartisan group of U.S. Senators has crafted a bill that favors rehabilitation over incarceration for nonviolent drug offenders. Always conscious of costs, the authors, including Illinois Sen. Dick Durbin, are proposing no new spending. On the contrary, they say: In the long run, the bill will save money by reducing the number of offenders in prisons and lowering the rate and risk of recidivism.