LEGL 2700 Roessing Test 2 Questions And
100% Correct Answers
Ponzi Schemes - ANSWER type of investment fraud in which the operator promises high
financial returns that cannot be obtained through legitimate means
intent to defraud - ANSWER to act knowingly and with the specific intent to deceive
someone, ordinarily for the purpose of causing some financial loss to another or bring
gain to oneself
good faith - ANSWER complete defense that is inconsistent with intent to defraud or
willfulness, purposes essential to the charges
Skilling v. United States (2010) - ANSWER -The Supreme Court held that Skilling was not
deprived of a fair trial because he failed to show that a presumption of juror bias against
him had arisen, and also failed to show that any actual bias had infected the jury
Skilling's other issue, involving honest services, the Court decided in his favor.
18 US. C. has been held to include only bribery and kickback schemes, and does not
encompass other modes of fraud that deprive the object of the scheme of honest
services
bankruptcy crimes - ANS -crime for the bankrupt debtor/anyone to falsify the
information filed in the bankruptcy proceedings
concealment - ANS to secrete, falsify, withhold information required by law to be made
known, or take any action preventing discovery
conspiracy - ANS -an agreement or a "kind of partnership" for criminal purposes in
which each member becomes the agent or partner of every other member
Conspiracy to commit
-plan crime with other people + an overt act
,overt act - ANSWER any transaction or event knowingly committed by a conspirator in
an effort to accomplish some object of the conspiracy
obstruction of justice - ANSWER occurs when a person commits an act with the intent to
obstruct the legislative process or judicial process
Miranda exculpatory no - ANSWER exemption for simple denials made in response to
government questioning part of a criminal investigation
larceny - ANSWER unlawful taking of personal property with the intent to deprive the
rightful owner of it permanently
robbery - ANSWER larceny by violence or threat
burglary - ANSWER breaking and entering for the purpose of committing a felony
embezzlement - ANSWER a person entrusted with another's money or property
fraudulently appropriates it
money laundering - ANSWER -falsely reporting income that is obtained through criminal
"dirty" activity as income obtained through a legitimate "clean" business enterprise
-hiding your money that you got illegally
Racketter Influenced and Corrupt Organizations Act (RICO) - ANSWER law imposes
criminal and civil liability upon those businesspersons who engage in certain prohibited
activities and who engage in interstate commerce
pattern of racketeering - ANSWER collection of an unlawful debt
,racketeering - ANSWER any act or threat involving specified state law crimes, federal
statutes, and certain federal offenses
endangerment of workers - ANSWER if a worker is injured, even accidental homicide if a
worker is killed on the job
aiding and abetting - ANSWER if a person acts under the direction of someone accused
of criminal activities
accessory - ANSWER -if the person is accused of being involved after the crime
-a person who assists a perpetrator of a crime in eluding the police
kickbacks - ANSWER -payoffs to one who has arranged or facilitated a transaction
-public officials approve contracts & give public $ to contract person, but then give $
under the table back to politicians
Foreign Corrupt Practices Act (FCPA) - ANSWER a law that prohibits U.S. corporations
from making illegal payments to public officials of foreign governments in order to
obtain business rights or to enhance their business dealings in those countries
sentencing guidelines - ANSWER -make the criminal system more fair
-help ensure that similar crimes receive similar sentencings
Tammany Hall/Boss Tweed - ANSWER -city council
-controlled nominations to government positions
-leverage over power
-charging for positions
-controlled who got city contracts
-overcharged for everything
, -unlicensed lawyer
-eventually got put in jail, paid guards to let him out
bribery - ANSWER giving something of value to a government/public official in return for
an official act
extortion - ANSWER getting something of value through force or threat
U.S. v. Bob McDonnell - ANSWER -governor of Virginia
-Johnnie Williams -> flipped on Bob
-Johnnie gave Bob and his family $, clothes
-Bob talks good about Johnnie's company
-convicted McDonnell
-takes it to the Supreme Court -> 8-0 judge gave the wrong decision -> remanded
Citizens United - ANSWER can give $ to a politician indirectly
Charles Ponzi - Mail Fraud - ANSWER -Ponzi/Pyramid Scheme
-take $ from 2nd layer and pay the 1st
Andrew Fastow - Enron CFO - ANSWER -conspiracy, fraud, money laundering
-major scandal
securities fraud - ANSWER lie to sell stock
Enron - ANSWER -major trading public company
-lied to stockholders & said they're doing well
-average people are being affected
Sarbanes-Oxley Act (SOX 2002) - ANSWER -Public trading companies:
1. CEOs and CFOs are personally/criminally liable if financials reported were wrong;
strict liability
100% Correct Answers
Ponzi Schemes - ANSWER type of investment fraud in which the operator promises high
financial returns that cannot be obtained through legitimate means
intent to defraud - ANSWER to act knowingly and with the specific intent to deceive
someone, ordinarily for the purpose of causing some financial loss to another or bring
gain to oneself
good faith - ANSWER complete defense that is inconsistent with intent to defraud or
willfulness, purposes essential to the charges
Skilling v. United States (2010) - ANSWER -The Supreme Court held that Skilling was not
deprived of a fair trial because he failed to show that a presumption of juror bias against
him had arisen, and also failed to show that any actual bias had infected the jury
Skilling's other issue, involving honest services, the Court decided in his favor.
18 US. C. has been held to include only bribery and kickback schemes, and does not
encompass other modes of fraud that deprive the object of the scheme of honest
services
bankruptcy crimes - ANS -crime for the bankrupt debtor/anyone to falsify the
information filed in the bankruptcy proceedings
concealment - ANS to secrete, falsify, withhold information required by law to be made
known, or take any action preventing discovery
conspiracy - ANS -an agreement or a "kind of partnership" for criminal purposes in
which each member becomes the agent or partner of every other member
Conspiracy to commit
-plan crime with other people + an overt act
,overt act - ANSWER any transaction or event knowingly committed by a conspirator in
an effort to accomplish some object of the conspiracy
obstruction of justice - ANSWER occurs when a person commits an act with the intent to
obstruct the legislative process or judicial process
Miranda exculpatory no - ANSWER exemption for simple denials made in response to
government questioning part of a criminal investigation
larceny - ANSWER unlawful taking of personal property with the intent to deprive the
rightful owner of it permanently
robbery - ANSWER larceny by violence or threat
burglary - ANSWER breaking and entering for the purpose of committing a felony
embezzlement - ANSWER a person entrusted with another's money or property
fraudulently appropriates it
money laundering - ANSWER -falsely reporting income that is obtained through criminal
"dirty" activity as income obtained through a legitimate "clean" business enterprise
-hiding your money that you got illegally
Racketter Influenced and Corrupt Organizations Act (RICO) - ANSWER law imposes
criminal and civil liability upon those businesspersons who engage in certain prohibited
activities and who engage in interstate commerce
pattern of racketeering - ANSWER collection of an unlawful debt
,racketeering - ANSWER any act or threat involving specified state law crimes, federal
statutes, and certain federal offenses
endangerment of workers - ANSWER if a worker is injured, even accidental homicide if a
worker is killed on the job
aiding and abetting - ANSWER if a person acts under the direction of someone accused
of criminal activities
accessory - ANSWER -if the person is accused of being involved after the crime
-a person who assists a perpetrator of a crime in eluding the police
kickbacks - ANSWER -payoffs to one who has arranged or facilitated a transaction
-public officials approve contracts & give public $ to contract person, but then give $
under the table back to politicians
Foreign Corrupt Practices Act (FCPA) - ANSWER a law that prohibits U.S. corporations
from making illegal payments to public officials of foreign governments in order to
obtain business rights or to enhance their business dealings in those countries
sentencing guidelines - ANSWER -make the criminal system more fair
-help ensure that similar crimes receive similar sentencings
Tammany Hall/Boss Tweed - ANSWER -city council
-controlled nominations to government positions
-leverage over power
-charging for positions
-controlled who got city contracts
-overcharged for everything
, -unlicensed lawyer
-eventually got put in jail, paid guards to let him out
bribery - ANSWER giving something of value to a government/public official in return for
an official act
extortion - ANSWER getting something of value through force or threat
U.S. v. Bob McDonnell - ANSWER -governor of Virginia
-Johnnie Williams -> flipped on Bob
-Johnnie gave Bob and his family $, clothes
-Bob talks good about Johnnie's company
-convicted McDonnell
-takes it to the Supreme Court -> 8-0 judge gave the wrong decision -> remanded
Citizens United - ANSWER can give $ to a politician indirectly
Charles Ponzi - Mail Fraud - ANSWER -Ponzi/Pyramid Scheme
-take $ from 2nd layer and pay the 1st
Andrew Fastow - Enron CFO - ANSWER -conspiracy, fraud, money laundering
-major scandal
securities fraud - ANSWER lie to sell stock
Enron - ANSWER -major trading public company
-lied to stockholders & said they're doing well
-average people are being affected
Sarbanes-Oxley Act (SOX 2002) - ANSWER -Public trading companies:
1. CEOs and CFOs are personally/criminally liable if financials reported were wrong;
strict liability
