Business Ethics and Criminal PenaltiesÂ· Section 22-5, â€œWhite-Collar Crime,â€ in Ch. 22 addresses several forms of white-collar crime including that of the Ponzi scheme. Also in that section is a â€œBusiness Ethics Perspectiveâ€ vignette titled â€œEpic Fraud: Bernie Madoffâ€™s Multibillion-Dollar Ponzi Scheme.â€ What does this example tell you about business ethics and the need for criminal penalties in order to regulate business? Q2Elements of a crime, Scienter, RICOÂ· What are the elements of a crime? What are some examples of crimes that do not require scienter? What constitutes criminal conduct according to the Racketeer Influenced and Corrupt Organizations Act (1970)? What are the consequences of engaging in these activities? Provide examples.
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