A comparative study of approaches to responding and punishing Ponzi crimes in the United States and the United Kingdom

Marsh, Alexander (2015) A comparative study of approaches to responding and punishing Ponzi crimes in the United States and the United Kingdom. MSc dissertation, University of Portsmouth.

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    The overall aim of the study is to determine the most effective way to reduce the incidence of Ponzi crime by critically examining the approaches to responding and punishing Ponzi crime in the United States (US) and the United Kingdom (UK). Three main objectives will structure the study: analysis of institutions, regulations, punishments and theoretical explanations of financial crime from existing literature; a comparison of Ponzi crime sentencing and frequency in the US and the UK; discussion of the effectiveness of responses and punishments by comparing the analyses of case studies and literature reviewed.
    The study uses comparative research of secondary data and a literature review of institutions and theory to draw conclusions on the effectiveness of responses and punishments. Data and case studies from after the 2007/8 financial downturn are analysed and a detailed comparison of aggregate data since 2010 published. A comparative analysis of six case studies, three from each region, is completed. The case studies are chosen for their significance and for their similarities. The responses and punishments received by the Ponzi criminals from the criminal justice systems in their own region is compared to hypothetical responses and punishments that would have been received if prosecuted in the comparable region. The literature review, aggregate data comparison and individual case studies are then discussed to draw conclusions for each criminal justice system to consider.
    The study finds a significant amount of US Ponzi crime compared to a low incidence of UK Ponzi crime. The US sentencing guidelines place most emphasis on financial loss when determining sentence length and can punish offenders with longer incapacitation than in the UK. The UK has a lower maximum sentence length and has more victim focus, placing equal weighting on harm and culpability. The study recommends increased victim focus in the US and finds little evidence of long sentence length deterring Ponzi criminals. Improvements are required to regulation and the publicity of Ponzi crime sentences. Finally the study highlights limitations and where further research is required to determine the effectiveness of regulation, investigation and frequency of enforcement in reducing the incidence of Ponzi crime

    Item Type: Dissertation
    Departments/Research Groups: Faculty of Humanities and Social Sciences > Institute of Criminal Justice Studies
    Depositing User: Jane Polwin
    Date Deposited: 22 Feb 2016 11:44
    Last Modified: 22 Feb 2016 11:44
    URI: http://eprints.port.ac.uk/id/eprint/19851

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