Why They Do It: Inside the Mind of the White-Collar Criminal

Eugene F. Soltes

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Book | 2016

Why They Do It: Inside the Mind of the White-Collar Criminal

by Eugene F. Soltes

Abstract

From the financial fraudsters of Enron, to the embezzlers at Tyco, to the Ponzi schemer Bernie Madoff, the failings of corporate titans are regular fixtures in the news. But what drives wealthy and powerful people to white-collar crime? I draw from extensive personal interaction and correspondence with nearly fifty former executives as well as research in psychology, criminology, and economics to investigate how once-celebrated executives become white-collar criminals.

Keywords: Crime and Corruption; Corporate Finance;

Format: Print

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Citation:

Soltes, Eugene F. Why They Do It: Inside the Mind of the White-Collar Criminal. New York: PublicAffairs, 2016.

About the Author

Eugene F. Soltes

Jakurski Family Associate Professor of Business Administration

Accounting and Management

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Teaching Note | HBS Case Collection | August 2019

Creating Accountability in Afghanistan

Jonas Heese, Gerardo Pérez Cavazos, Eugene F. Soltes and Grace Liu

Teaching Note for HBS No. 120-024.

Citation:
Heese, Jonas, Gerardo Pérez Cavazos, Eugene F. Soltes, and Grace Liu. "Creating Accountability in Afghanistan." Harvard Business School Teaching Note 120-030, August 2019. View Details

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Case | HBS Case Collection | August 2019

Creating Accountability in Afghanistan

Jonas Heese, Gerardo Pérez Cavazos, Eugene F. Soltes and Grace Liu

By early 2019, the United States had contributed $132 billion to the Afghan reconstruction—an amount exceeding the inflation-adjusted cost of the Marshall Plan, which aided reconstruction in 16 European countries after the Second World War. John Sopko, in his role as the Special Inspector General for Afghan Reconstruction (SIGAR), was in charge of providing accountability for U.S. aid funding. Sopko’s oversight faced severe limitations such as a growing on-budget assistance; pervasive corruption; and lack of transportation, infrastructure, and security for his staff. To fight those odds, SIGAR has implemented multiple strategies with relative success. For example, cultivating a network of sources and informants had allowed SIGAR to save the U.S. over $200 million from a fuel contract bid-rigging scheme. The SIGAR Fraud Hotline had received and reviewed over 3,200 reports. However, with the Afghan presidential elections and peace talks looming on the horizon, Sopko was wondering how SIGAR would have to adapt to a new reality that could potentially be much worse.

Keywords: auditing; fraud; accountability; Crime and Corruption; Law Enforcement; Governance; Infrastructure; Information; Networks; Strategy; Afghanistan;

Citation:
Heese, Jonas, Gerardo Pérez Cavazos, Eugene F. Soltes, and Grace Liu. "Creating Accountability in Afghanistan." Harvard Business School Case 120-024, August 2019. View Details

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Case | HBS Case Collection | December 2016 (Revised July 2019)

Rajat Gupta

Paul Healy and Eugene Soltes

Rajat Gupta, former managing director of McKinsey & Company; a director of Goldman Sachs, Procter & Gamble, and AMR; and a well-known philanthropist, was convicted of engaging in insider trading. The case explores Gupta’s rise and the later legal problems he faced.

Keywords: insider trading; McKinsey; Ethics; Crime and Corruption; United States;

Citation:
Healy, Paul, and Eugene Soltes. "Rajat Gupta." Harvard Business School Case 117-004, December 2016. (Revised July 2019.) View Details

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Why They Do It: Inside the Mind of the White-Collar Criminal

Abstract

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About the Author

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