Lawrence Stentzel, who also had a stint at Morgan Lewis & Bockius in Washington DC, wrote that large corporations implicated in corporate wrongdoings received penalties that are minimal in comparison with the advantages gained by the wrongdoing.
Admission of wrongdoing
According to Corporate Crime Reporter, Mr Stentzel wrote: ‘In nearly all instances of multi-million dollar settlements with regulatory agencies, the corporation has been permitted by the regulatory agency to refrain from admitting wrongdoing.’
Mr Stentzel claimed to have found ‘numerous instances’ in which federal regulatory agencies settled cases of serious corporate malfeasance without insisting on an admission of wrongdoing by the corporation.
‘In many, if not most, of these settlements, the benefits to the corporate wrongdoer probably greatly exceeded the fines imposed,’ Mr Stentzel argued.
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