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Justice Department announces white collar crime crackdown

On Behalf of | Nov 15, 2021 | White Collar Crimes |

Federal or Indiana white collar crime prosecutions can be complicated and damaging for businesses and individuals. The federal government recently announced that it is stepping up its prosecution of corporate crimes.

The first cases expected are within weeks and may involve the country’s largest corporations. The number of corporate crime prosecutions by the DOJ against business and individuals dropped to its lowest levels in 25 years in 2020 according to Syracuse University research.

Deferred prosecutions

Companies that violated the terms of a deferred prosecution agreement are potential targets and may receive notification from the Department of Justice that they violated these agreements. Deferred compensation agreements postpone prosecutions for a specific time period so that a business may prove that it can correct the wrongdoing. A federal penalty is often imposed.

The DOJ may also take significant action against companies that did not invest in compliance systems that they were required to implement to prevent white collar crimes and other corporate misconduct.

Last month, a deputy attorney general announced that the department would make other major changes to its corporate enforcement policies. A company’s historical misconduct would be taken into consideration during DOJ investigations.

The number of corporate crime prosecutions by the DOJ against business and individuals dropped to its lowest levels in 25 years in 2020 according to Syracuse University research.

Independent monitors

The deputy attorney general also indicated that the appointment of independent monitors would be encouraged. Monitors are outside individuals appointed to ensure companies were complying with deferred prosecution agreements.

Companies seeking leniency in return for their cooperation will have to identify all individuals involved with the misconduct regardless of their seniority. This is a change from DOJ policy before 2021 where companies were required to identify individual substantially involved in or responsible for the criminal conduct.

These prosecutions can be costly and have long term consequences. The criminal justice system can also be confusing and intimidating. Kammen & Moudy can offer you the experiences support you need.

 

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