White-Collar Crime. How Insider Traders Cope Inside

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White-Collar Crime. How Insider Traders Cope Inside

Some facts to consider:

• F. Quattrone, a former star banker for Credit Suesse, was sentencedafter being convicted of obstruction of justice.

• M. Stewart, the first lady of homely fashion in the USA, was sentenced to five months in prison for lying to investigators about her sale of shares. She is going to appeal against the verdict. She doesn’t go to prison, she is expected to serve her sentence in a women’s low- or minimum security facility.

• B. Glisar, a former treasurer, is serving a five-year sentence in a low security federal institution. He pleaded guilty to one count of conspiracy to commitwire and securities fraud.

Journalist C. Bowe signed upfor an increasingly popular course designed to prepare America’s corporate crooks for life in a federal prison. He is playing the role of an executive convicted of white-collar crimes.

According to the concocted story, he was convicted of securities fraud, falsifying business records and conspiracy to commit fraud in the US federal court.

The founder of IOP (Incarceration Optimization Programme), a discreet prison training course for wealthy executives, Mr. Oberfest claims the business motto for prospective clients Be prepared instead of scared. His business is a sign of the times. Since the stock market collapse of 2000, the public has become familiar with the pictures of disgraced company executives in handcuffs, escorted by armed policemen. IOP has already helped people accused of crimes such as antitrust violations, financial and securities fraud, insider trading, economic espionage, counterfeiting and bribery.

A typical programme course costs $20, 000 for 100 hours of training, with shorter programmes available. They offer lessons about prison life, including slang, physical and mental preparation and self-defense training. Mr. Oberfest covers federal prison statistics: the prison has more than 160, 000 inmates and shows the floor plan of the prison and the daily routine. Prison etiquette is critical. Behind the bars no one is a friend. You should mind your own business and never make eye contactwith anyone.

Then you are introduced to your cell and living space, which include two bunk beds you will have share with the roommate. Learning how to pass time is vital. It’s also important to learn how to exercise in the cell. You can work your triceps, using your bed as an anchor. While defending yourself in prison, the advice is to learn moves that just humiliate the attacker to signal your strength. The high incidence of HIV among prisoners makes it dangerous to draw blood – not to mention the fact that inflicting serious injury could extend your jail time.

                                                                                                                                    C. Bowe

Practicum 4.7

Translate the italicized word combinations in Text 3a into Russian

Practicum 4.8

Practicum 4.9

III. Communication Practice

Role play

You are a defense lawyer of a bank executive to be tried for embezzlement. Your client is likely to spend in prison at least five years. You are to sign him up for a course “Incarceration Optimization Programme” and inform of hazards and predicaments he is in for.

Text 4b

The text to follow deals in t alking law. Study the text and use it as a starting point for communication

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