From the President

By James D. Ratley, CFE


In my previous column, I questioned the appropriateness of punishing white-collar criminals with prison time. Of course, fraudsters need to be penalized, but I'm not sure time in jail -- a very expensive proposition for taxpayers -- is the best method.

The purpose of a prison is fourfold:

  • Retribution for a crime
  • To disable a criminal from committing further offenses when incarcerated
  • To deter criminal activity after release
  • To deter others from committing similar crimes

I will write here only of the U.S. criminal system, but many of the principles apply globally.

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