Fundamental Business Law

When we speak of crimes the very first thing that into most peoples mind is that it is something bad and is punishable by imprisonment. There is always someone that is the victim and the other, the offender or what we call criminal. The word crime is commonly related with the word violation. In fact, crime is considered as a violation of something; whether norms, cultural standards and of course violation of the law.

Felony and misdemeanor are just two of the many types of crime. These two are often intertwined; however they are different from each other. In common law system, the term felony is used to indicate serious crimes while misdemeanor refers to less grave offences that have been made. It is clear enough that the punishment for cases of misdemeanor is lesser compared to that of felony. The worst punishment for misdemeanor cases could be part-time imprisonment which is done only on weekends while felony cases involve punishment to the extent of life imprisonment and even death.

In the case the former chief executive of WorldCom, Bernard Ebbers, He had been charged guilty of fraud which involves big amount of money. Clearly, it is not a simple crime. He was found guilty of $11 billion fraud. The victims are more than ten thousand employees of Worldcom that had not only lost their job but their dreams and saving as well by the time of the company’s failure in 2002. Clearly Mr. Ebbers had committed a crime, not just an ordinary crime but felony leaving thousands of employees as his victims.

The case of Mr. Ebbers had created tremendous impact and negative effects on several people. It surely a crime that is not to go unpunished. The case of Mr. Ebbers may have not cause death to its employees but the fact that it created great harm in the lives of thousands of employees makes him guilty of the crime. Also the fact that he committed fraud is truly a crime not only in the eyes of the judicial government but in the eyes of the society and its people as well.

Reference:

Belson, K. 2005. Ex-chief of worldcom convicted of fraud charges. The New York Times. Retrieved

August 29, 2007 from http://www.nytimes.com/2005/03/15/business/15cnd-ebbers.html?pagewanted=2&ei=5090&en=342877d555833496&ex=1268542800&partner=rssuserland