Editorial: Prosecution of corporate fraud needs to continue
The Supreme Court has thrown out the conviction of Arthur Andersen LLP, citing improper jury instructions as the reason. Despite this setback, the government must continue to vigorously pursue corporate criminals.
Arthur Andersen, the accounting firm for Enron, was convicted of “corruptly persuading” employees to destroy documents related to the scandal.
But the Supreme Court ruled the conviction was invalid because the judge had failed to instruct the jury correctly, omitting any mention of the legal requirement for conviction that Arthur Andersen “knowingly” broke the law.
It is unfortunate that such an important case would be overturned because of the omission of a single phrase. The government’s efforts against Arthur Andersen marked a turning point and sent the message that white-collar criminals would receive punishments for their crimes.
This country spends tremendous resources prosecuting and jailing minor criminals of all sorts, including nonviolent drug offenders and petty thieves. Corporate criminals deserve equal or greater punishments. Their frauds ruin entire companies and cost thousands of people their jobs and livelihoods.
advertise
contact us
top of page