Wednesday, December 28, 2005
In the United States it has been a tough year for some individuals who have been found guilty of white collar offenses. The sentences have been well beyond what we saw in the past. Jamie Olis originally received a sentence of 24 years - although it has been reversed and he will be re-sentenced in January. Bernie Ebbers received 25 years and John Rigas, who is 80 years old, was issued a sentence of 15 years. These cases did not involve a fraud against the government, but rather were cases in the private sector of society. In looking at these enormous sentences, it appears that we are moving closer to a sentence we see issued this week in China.
China Daily reports here that a former minister will receive a life sentence for bribery. Additionally he will forfeit all his "personal belongings." AP reports here that other bribery cases in China have ended with an execution of the individual.
Should our sentences be moving closer to those issued in China, or should we be re-evaluating white collar sentences?