Our last post introduced the four big categories that experts believe will dominate white collar crime developments in the upcoming year. These broad categories include LIBOR manipulation cases (discussed in the previous post), corruption and bribery, insider trading, and misconduct by rogue traders.
The last year saw a number of large-scale white collar crime prosecutions around the nation. For example, criminal cases centered on a rogue trader's risky loss of $2.3 billion while a number of medical companies ran into trouble for corruption and bribery. As professor Peter Henning wrote in the New York Times, the development of a major white-collar crime case in 2013 is simply "a question of when."
A doctor who is serving a prison sentence some would call lengthy given his crime recently had his attempt to reduce his sentence denied. Alan Mendelsohn has been in prison for four years because he was convicted of tax fraud. Although no one is saying that what he did is okay, some have questioned whether the judge in Mendelsohn's case overstepped his bounds.
Occasionally, police will rely on a fraud suspect's cooperation when investigating an alleged criminal scheme. Sometimes, this cooperation will result in the suspect in question being given leniency in his or her case. This can be seen in the results of a recent sentencing hearing involving a man who was accused of being involved in a fraud scheme that was connected to a public corruption scandal.