edit: This is why Bernie Madoff went to prison and why basically no one went to jail over the 2008 GFC. Madoff stole from his own social class, which is a big no-no.
edit: This is why Bernie Madoff went to prison and why basically no one went to jail over the 2008 GFC. Madoff stole from his own social class, which is a big no-no.
Despite the fact that white collar crime does more economic damage and even kills more people every year than street crime, it is punished very rarely and then typically only lightly. That's a social issue, and the majority of society are complicit in it, fighting for tougher laws to control the middle and lower class while fighting against substantial penalties for crime committed by the upper class. The Protestant Work Ethic says that hard work, endurance of suffering, and virtuous character is the only way to wealth, so the public presumes that is how the wealthy got wealthy. It is almost never true, however.
I don’t think that analysis tells the whole story. Elizabeth Holmes got away with a slapped wrist despite defrauding some very, very powerful people.
Whereas Shkreli got jail despite returning every penny to his investors.
Holmes hasn't gotten away with anything yet. She's been indicted on federal charges, and the trial is expected to begin in 2020. She could end up in prison.
https://en.wikipedia.org/wiki/Elizabeth_Holmes#Criminal_char...
For example, if you invest money in a profitable business and the CEO skims a little bit off the top, you might end up making money despite that you were defrauded off some of your gains.