Will Coporations Be Jailed for Their Crime
You know, some things remain in the dark or maybe I should say have a reason for existing. Do you know that just like humans, organizations have the right to religion, own properties, be sued as well as sue persons and organization, and they can also donate to politics, and if these corporations can do all these, then isn't it fear that they also serve jail terms for crimes they commit?
There was a time that HSBC was seen to have helped people launder money as a result of a flaw in their AML process but instead of serving jail term, they just paid fine for their crime and still operate in different countries but if it were to be a human, they would be serving jail term as well as paying fine.
In the HSBC case, even criminal prosecutors claimed their goal was not to bring down the company but this wouldn't be the same if it was a human being charged. It now looks like these companies are too big to be jailed for their offenses. Do you not think that a punishment should be mended to the executives of the companies when the company is found doing the wrong just like recently when Sen Warren asked that hospital private equity executives be put in jail if they were found cutting corners.
You would think that has solved the problem but I bet it hasn't because her target was to the health industry especially buyout private equity funds who are interested in making money over health. This isn't possible yet because the health sector is very complicated as it is difficult to tell if the death of a patient is caused by malpractice, the system, or natural cause.
If people were to go to prison for crimes, then companies licenses should be revoked if they break laws or maybe their executives should pay for the crimes of the company. One company I could say that has been sued in recent times for money laundering is Binance and its CEO in prison and I could say that this is because the company was really having a hammer on its nail head.
The disparity between how individuals and corporations are penalized for crimes raises critical questions about justice and accountability. Corporations enjoy many rights, yet often escape the severe punishments faced by individuals. Ensuring that companies and their executives are held accountable whether through fines, license revocations, or even jail time could create a fairer and more responsible corporate landscape. While challenges exist, particularly in complex sectors like healthcare, striving for equitable treatment under the law is essential for maintaining public trust and ethical business practices.