ASIC and Corporate Crime
From http://tinyurl.com/r32eb
The Age 08/07/2006
ASIC chairman Jeff Lucy believes corporate crime is a serious issue that deserves tough investigation and, if the courts deem it appropriate, serious punishment.
He said the crimes of Bullen, Ficarra, Duffy and Gray cost the bank — and effectively its shareholders — more than $300 million.
Mr Lucy said he had no doubt that jail sentences sent the message that white-collar crime would not be tolerated.
"There's a number of beneficiaries of that message," he said. "There's the defendants and their families. It also sends a message to people who might be contemplating similar actions and it sends a wider message that people can have confidence in the markets."
Dare one ask how the defendants and their families are beneficiaries?
The Age 08/07/2006
ASIC chairman Jeff Lucy believes corporate crime is a serious issue that deserves tough investigation and, if the courts deem it appropriate, serious punishment.
He said the crimes of Bullen, Ficarra, Duffy and Gray cost the bank — and effectively its shareholders — more than $300 million.
Mr Lucy said he had no doubt that jail sentences sent the message that white-collar crime would not be tolerated.
"There's a number of beneficiaries of that message," he said. "There's the defendants and their families. It also sends a message to people who might be contemplating similar actions and it sends a wider message that people can have confidence in the markets."
Dare one ask how the defendants and their families are beneficiaries?
posted by Mr Jherek @ 10:33 am
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