White Collar Crime

Consolidated Omnibus Budget Reconciliation Act (COBRA)

A generic term for crimes involving commercial fraud, cheating consumers, swindles, insider trading on the stock market, embezzlement and other forms of dishonest business schemes. the term comes from the out-of-date assumption that business executives wear white shirts with ties. it also theoretically distinguishes these crimes and criminals from physical crimes, supposedly likely to be committed by “blue collar” workers.

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