Read the article “Just How is a Year in Prison Fair for White-Collar Crime?” located at https://www.bloomberg.com/opinion/articles/2018-11-02/valeant-scammers-sentences-show-white-collar-crime-is-tolerated . Find a recent white collar crime case (within the last two years). Give a short synopsis of the case and indicate whether the principals were sentenced to prison time. Have the sentences for white collar crime gotten lighter since the advent of Sarbanes-Oxley? How do you think this relates to accounting issues the US if faced with today? Has the SEC relaxed its compliance stance? Do you think increasing globalization and the convergence effort between IFRS and US GAAP has played a role in possibly relaxing penalties for white collar crime? Why?
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