Flashcards in Chapter 7: Criminal Law Deck (22)
Chapter 7 Bankruptcy
straight bankruptcy that extinguishes or liquidates the debts
Making a false statement to a bank
Anyone who knowingly makes a false statement of material fact or overvalues property for the purposes of inducing a bank to take action shall be guilty of this offense. Punishment may be a fine of up to $1,000,000 or imprisonment for up to 30 years
The buying or selling of a security, in breach of a relationship of trust and confidence, while in possession of information that has not yet been made public about the stock. There are two theories regarding insider trading: classical theory and misappropriation theory
Theory of insider trading that imposes liability on corporate insiders who trade on the basis of confidential information obtained by reason of their positions within the business.
Theory of insider trading that imposes liability on "outsiders" who trade on the basis of confidential information obtained by the person possessing such information, usually a person on the inside of the corporation.
A crime involving the concealment of the real source of illegally obtained money by having a third party claim ownership to the currency. A person charged with money laundering does not have to commit the crime which generated the revenue, it is the person who disposes the cash or hides it origination.
The act of offering something of value to another with the intent of influencing that person's opinion or to have something done in return by that entity. Ex: Paying police officer to disregard a traffic ticket.
White Collar Crime
Illegal acts perpetrated in a business setting. The criminals dress in business shirts, as opposed to blue-collar workers who are engaged in industrial or low paying jobs. Ex: Computer fraud, healthcare fraud, securities fraud, insider trading, counterfeiting, theft of trade secrets, embezzlement, and tax evasion.
An encompassing crime that allows the government to file charges against anyone who has participated in the planning or committing of a crime and to hold each liable for the actions of the other. Page 325 outlines PA's definition. Conspiracy is a separate crime from the actual offense that is to be committed.
When someone uses the victim's personal information to obtain a financial advantage such as the misappropriation of a credit card or money from a bank account. Criminals have even assumed the unsuspecting person's identity to obtain a fraudulent driver's license or apply for a job. In 1998, Congress enacted the Identity Theft and Assumption Deterrence Act.
When a person carries away or transfers any merchandise offered for sale with the intention of depriving the merchant of such items without paying the retail value for the product. Ex: Altering labels/tags or removal/destruction of tags with the intent of depriving the merchant of the full purchase price.
When one uses the Internet to sell property gained through unlawful means and is aware of the unlawful obtainment. A person who unknowingly purchases stolen property over the Internet does not violate this provision.
Receiving Stolen Property
Intentionally obtains or disposes of property of another, knowing that it has been stolen, or believing that it has probably been stolen. The person prosecuted is not the original thief. The gov. has the burden of proving each element in this crime
Consists of all the elements of larceny with one additional requirement- the taking must be accomplished by force or the threat of force
Someone takes ownership of property that has been entrusted to him with the fraudulent intent to deprive the owner of the property. Ex: Bank teller fraudulently changes the deposits so she can take some of the money. THE DIFFERENCE BETWEEN EMBEZZLEMENT AND THEFT: Embezzler is lawfully entrusted with the property. In theft, the person improperly obtains possession. There are no financial boundaries to embezzlement, can be $1-$1,000,000. The punishment ranges from large fines to jail time
Taking and carrying away of property that belongs to another without the owner's consent and with the intention of depriving the person/owner of the goods permanently. The offense does not apply to real estate or intangible property. Petit larceny: less than $200. Grand larceny: $200 or more IN THE STATE OF VIRGINIA.
Theft Related Crimes
4. Receiving Stolen Property
5. Electronic Fencing
6. Retail Theft
7. Identity Theft
The unlawful intrusion onto real estate. Crime occurs when a person enters the land of another without permission or with no legal right to be there.
If a person enters a building or occupied structure with the intent to commit a crime unless the premises are open to the public. Common law definition including time of day as well as the requirement of breaking and entering have been eliminated. Burglary does not require substantive offense to be actually committed- just the intent needs to be present.
Crimes are harmful to...
Small commercial establishments, but also costs all types of businesses billions of dollars annually which stops economic growth.
Most frequently charged offenses in the U.S?
Non-violent crimes make up 3/4's of all arrests- Drug trafficking/drug related crime is the single largest category of arrests. 1/4 of arrest that are violent are usually assault and robbery.