White Collar
Essays

Situation 1: A telephone marketer promises a solar-powered clothes dryer for $500 and then sends the buyer only a clothesline and clothes pins.

In 2009, the Antigua/Texas based global financial group (which was made up several subsidiaries that were owned by the same investment firm) owned by R. Allen Stanford was charged with scamming their customers by the Securities and Exchange Commission. Stanford Financial Group was charged with fraud on the basis that they deceptively sold consumers over seven billion dollars in deposit certificates. The company advertised the CDs as safe investments to their clients yet they paid them a rate of return that was inconsistently higher than the market rate. The rate brought in many clients however the investments were not as safe as they were advertised.