Modern crooks are the leaders of our financial institutions who have sent the economy into a downward tailspin, thrashing the American way of life with their New York white collar crimes. These glutinous people include types such as incompetent CEO’s and malicious scammers.
Now these government bailed out business are upset that they can only pay their top executives $500,000. They claim that they will not be able to attract top talent. It may behoove them to retract this statement. After all, it took them just a matter of years to bring down corporations and lose many hundreds of billions of dollars, if not more.
According to reports, some of the money was used on executive jets, sumptuous bonuses, and fancy offices.
On a somewhat lesser scale, Edgar Veloz stole his friend’s identity and wrote himself $3,000 worth of checks. It would have taken him 1,000 years to bankrupt Citigroup at this rate. Compare that to leader of Citigroup, Charles Prince, who managed to bring down the company in less than a year while earning a salary in the millions.
A white collar crime is a term used a lot these days, you hear it in the news and media, yet few know what it really means. White collar crime in New York is an act of theft or other criminal conduct which violates a corporate or government officer’s fiduciary duties. Thus, if a person is acting in a position of financial trust or management for a client, a business, or a government agency, and they do something illegal, stealing the company’s funds, for example, then that person has committed a white collar crime. If you are being accused of a white collar crime, it is in your best interest to contact a skilled Georgia or New York white collar crime attorney.