Prosecutions Anticipated to Rise with Falling Economy
No one can doubt that there is considerable disgust on the part of the public concerning the poor business decisions of top executives. This is not surprising given that the public is now being asked to absorb some of the costs of these mistakes. This has translated into increased prosecution of executives in recent times and New York White Collar Lawyer Stanley Arkin, Esq., recently reported in the NY Law Journal that this is anticipated to rise.
Classically, an executive only had shareholders to answer to and, if displeased, he would be terminated. The recourse also now becoming more and more viable is criminal prosecution. However, the line is not a fine one in my mind. To rise to the level of criminal culpability, there must be some egregious conduct which is of a criminal nature, not just careless or reckless business judgment.
