Why did good people do bad things (commit white-collar crimes) Essay - 1

Why did good people do bad things (commit white-collar crimes) - Essay Example Jeffrey Skilling was a former Enron Chief Executive officer who was convicted of several counts of conspiracy and actual fraud. Russell Wasendorf was the CEO of the bankrupt Peregrine Financial group. Jeffrey Skilling was convicted of making false financial statements, wire fraud and securities fraud and sentenced to 24 years in prison. He was accused of committing a series of frauds that were geared at misleading investors and business analysts (Friedrichs 325). On his part, Russell Wasendorf admitted to stealing millions from about 13,000 investors who had entrusted him with their investment through his Peregrine Financial group. The judge sentenced him to 50 years jail imprisonment depending on the huge financial loss and sophistication of the fraud. Jeffrey Skilling and Russell Wasendorf were both not born criminals. Jeffrey Smilling was born in Pennsylvani and graduated from West Aurora High school. He attained a Bachelor of Science degree at Southern Methodist University in 1975 and after an MBA from Harvard Business School. Jeffrey was smart in class and in his early career since he was the youngest partner at Mckinsey consulting. There is no evidence that shows that Jeffrey Smilling had negative behaviours in his early childhood. On the other hand, Russell Wasendorf was born in 1948 and never displayed any signs of criminal behaviour in his early childhood. In the case of Jeffery Skilling, it was a case of a good person doing the bad things. According to his previous employment records, he displayed financial discipline and intense management qualities that helped McKinsey attain higher profitability and customer satisfaction. Russell Wasendorf is also a case of a good person doing the wrong thing. This is evidenced by his ability to stand the best direct online trading system that could connect the traders with the CME’s Globex in 1998 (Friedrichs 325). The two fraudulent crimes can be explained by the fraud triangle theory that asserts that