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Rescinded due to the Commercial Standards Act.
House Vote: 8-0-1
Senate Vote: 4-0-0
A
BILL
To
Crackdown on White-Collar Crime
The people of the Commonwealth of Redmont, through their elected Representatives and Senators in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:
1 - Short Title and Enactment
(1) This Act may be cited as the “White-Collar CrackDown Act”.
(2) This Act shall be enacted immediately upon its signage,
(3) Authored by Milkcrack
(4) Co-Sponsored by Hugebob
2 - Reasons
(1) White-collar crime is bad
3 - Definitions and Enforcement
(1) Fraud shall be defined as;” an intentional or reckless misrepresentation or omission of an important fact, especially a material one, to a victim who justifiably relies on that misrepresentation; and the victim party or entity suffered actual, quantifiable injury or damages as a result of the misrepresentation or omission.”
(2) Under the Jurisdiction Act, 5 - DEC Oversight of Commerce Regulations will be removed
(1) The following rules shall hereby be defined as laws under the jurisdiction of the Court of DemocracyCraft and subject to enforcement by the Department of Education and Commerce:
(a) Fraud
(b) Job Exclusivity Breach
(c) Tax Evasion
(d) Corporate Espionage
(2) The legal definitions of the subsections named above shall be the same as the definitions of said provisions as rules.
(3) The penalties for the subsections named above shall remain unchanged, barring the provisions for bans.
(4) Any player charged in accordance with any of the above subsections must be notified over discord and in game prior to the Department of Education and Commerce taking action. This Article shall not be interpreted to mean the Department may not enforce the subsections listed above without a response from the player, but rather the Department must do their due diligence to ensure the player is notified.
(5) Fraud must be brought as a formal court case against a player, either by the Department of Education and Commerce or an individual. If the Department of Education and Commerce wishes to file suit against a player, they must do so via the Attorney General's office and must ensure their compliance with Article 5.4 of this enactment. Failure to do so shall result in the dismissal of any case.
(3) A new Provision shall be added under the Jurisdiction act named "9 - White Collar Crime Jurisdiction" in which the following provisions will be added
(1) The DEC in conjunction with the Office of The Attorney General is in charge of Investigating the following crimes; Security Fraud, Embezzlement, Tax Evasion, Gambling Fraud, Anti-Trust, bribery and Money Laundering.
(2) The DOS in conjunction with the Office of The Attorney General is in charge of Investigating Electoral Fraud.
(3) The DOJ in conjunction with the Office of The Attorney General is in charge of Investigating Identity Fraud and whistleblower suppression.
(4) Where a white-collar crime has been committed but does not pertain itself to the explicitly listed, crimes above or pertains itself to multiple crimes, the office of the Attorney General may choose to, investigate said crime alone or with the department(s) of their choice.
(5) Any party or entity can file a civil suit against a party or an entity if they believe the party they are suing has violated a white-collar crime and they have sustained damages because of this. This includes the government. Meaning that the office of the Attorney General may choose to prosecute someone in criminal court or/and in civil court.
4 - Types of Fraud
(1) Security Fraud shall be defined as; ”The Act of fraudulent security trade practices”. Security Fraud has multiple sub-types with each being able to carry additional punishments, with those sub-types being;
(a) Insider Trading shall be defined as “Buying or selling a stock based on non-public information that would substantially impact a trader’s decision to buy or sell” Any owner of a business that sells stocks of his own company has an obligation to make a reasonable attempt to, disclose this information to the shareholders, failure to do so may be considered evidence in an insider trading case.
(b) Market Manipulation shall be defined as; “The act of fraudulently inflating or deflating the value of a company or asset of which you have a responsibility for” Any public company which values its own total market value over 500.000$, is expected to have a publicly available, detailed explanation, of how they reached that evaluation. Failure to do so may be considered evidence in a market manipulation case.
(c) Third-Party Misrepresentation shall be defined as; “The act of intentionally or recklessly aiding and abetting a party or entity in committing market manipulation. This also applies, to a party or entity which is not aware they might be committing market manipulation such as participants in a pump and dump scheme.”
(2) Embezzlement shall be defined as; “The act of withholding assets for the purpose of conversion of such assets, by one or more persons to whom the assets were entrusted, for personal gain.” An example of this law is; spending company funds for personal gain of a company of which you do not own 100%.
(3) Tax Evasion is seen as defrauding the government and shall be defined as; “The Fraudulent non-payment or underpayment of actual tax liabilities due”. Tax Evasion has multiple sub-types each being able to carry additional punishment with those sub-types being;
(a) Balance Tax Evasion shall be defined as “The act of intentionally or recklessly transferring, funds to one or more personal balances or company bank accounts with no legitimate purpose, with the result that less tax is paid.” An example of this is, storing your personal wealth, in a company bank account for no legitimate purpose.
(b) Plot Tax Evasion shall be defined as “ The act of intentionally or recklessly transferring, plots to one or more persons over which they have no legal ownership without a legitimate purpose, with the result that less
tax is paid.” To combat, said behaviour, a merged plot needs to be owned by the same person even after it has been merged.
(4) Identity Fraud, shall be defined as; “The act of fraudulently misrepresenting yourself as someone else or fraudulently claiming you have authority where you don't”
Identity Fraud has a sub-type carrying extra punishment, with that sub-type being;
(a) Government Impersonation, which shall be defined as; “The Act of fraudulently Impersonating a government official or a government employee for financial or another personal gain(s)”
(b) False Credentials, which shall be defined as "The Act of fraudulently misrepresenting yourself or someone else as having a certification, commendation or another type of credential for personal gain."
(5) Electoral Fraud which is defined in the Electoral Act
(6) Money Laundering shall be defined as "Any act to conceal funds illegally obtained, through commercial transactions, business deals, or any means otherwise."
(7) Gambling Fraud shall be defined as " The act of fraudulently explaining how a certain gambling game works". Any party or entity which hosts a gambling game is required, to explain the game when asked.
(8) New Player Fraud shall be defined as "If a player tries to get another player to pay them their starting balance or a portion of it without any reasonable justification or any service or item in return, within the affected players first 12 hours of playtime.
(9) Any player found guilty of New Player fraud shall be fined the amount of money demanded of the new player, If the scammed new player has already paid the scamming player money, the scamming player will have to give that money back to the new player, in addition to the specified fine.
5 - Anti-Trust Laws
(1) Market Allocation: Any sort of deal wherein two or more businesses agree to allocate “territory” to one another to prevent regional competition.
(2) Bid Rigging: Any sort of deal wherein two or more businesses and/or persons agree to not bid against one another to minimize their losses.
(3) Price Fixing: Any sort of deal wherein two or more businesses agree to keep prices at a certain point to avoid price competition.
(4) Monopolization: Any sort of deal wherein two or more businesses seek to merge into a single entity or owner-subsidiary relationship that controls a disproportionately large amount of market share in any particular market.
(5) A deal wherein bidders, businesses or auctioneers enter into a deal with each other to maximize profits of auctions is hereby illegal.
(6) Corporate Espionage: Any parties participating in, or accessory to the gathering, infiltration, or compromise of any sensitive company information that has not already been released to the public under the instruction of the company's controlling interest.
6 - Whistleblowers
(1) Whistleblower Suppression; No employer may discharge, demote, suspend, threaten, harass, or in any other manner discriminate against a covered individual in the terms and conditions of employment of the covered individual because of any lawful act done by the covered individual to report information regarding a violation of a corporate crime.
7 - Bribery
(1) Bribery shall be defined as the act of offering, giving, soliciting, or receiving an item or service of value to influence an individual holding public office or serving in a legal capacity.
8 - Punishment
(1) Any party or entity found liable for fraud can receive punitive damages up to 10.000$ for a player and up to 100.000$ for a company. As well as being required to compensate, the defrauded party, which includes attorney fees. A judge may also grant extra punitive damages to a company if they believe that said company is guilty beyond a reasonable doubt and most likely would be found criminally guilty if that was possible. Those extra punitive damages may not exceed more than 150% of the “profits” the company gained by committing fraud.
(2) Any player found guilty of fraud or attempted fraud shall receive up to 10min of jail time as well as a fine of a minimum of 100$ to a maximum of 50.000$ as well as being required to compensate the defrauded parties.
(3) The following crimes can have extra criminal punishments this will be in addition to the regular punishment;
(a) If a player is found guilty of the crimes of; security fraud, embezzlement, money laundering, anti-trust laws, whistleblower suppression or Tax Evasion the Department of Education and Commerce will suspend, their entrepreneur license and bar registration or ownership of any company or union. This ban will last until the crime is stricken from their criminal record, the individual is pardoned or, the Secretary of the Department of Education and Commerce chooses to end the ban.
(4) Electoral fraud does not carry, the regular criminal punishment for fraud, and is instead outlined in the Electoral Act. However, the civil version of Electoral fraud will carry the regular punishment of fraud
(5) Any player found guilty of an Anti-Trust Law shall receive up to 10 min of jail time as well as a fine of a minimum of 250$ to a maximum of 50.000$.
(6) Any party or entity found liable for violating an Anti-Trust law can receive punitive damages up to 50.000$ for a player and up to 100.000$ for a company. As well as being required to compensate, the suing party if sustained damages which include attorney fees.
(7) Any player found guilty of bribery shall receive up to 10 min of jail time as well as a fine of a minimum of 500$ to a maximum of 50.000$ as well as the issuance of barring from holding public office for a period no longer than 2 months.
(8) Any player found guilty of Whistleblower suppression shall receive up to 10 min of jail time as well as a fine of a minimum of 250$ to a maximum of 50.000$.
(9) Any party or entity found liable for violating the Whistleblower suppression law can receive punitive damages up to 50.000$ for a player and up to 100.000$ for a company. As well as being required to compensate, the suing party if sustained damages which include attorney fees.
9 - Redactions
(1) The following acts shall be redacted;
(a) Corporate Crimes Act
(b) Casino Regulations Act
House Vote: 8-0-1
Senate Vote: 4-0-0
A
BILL
To
Crackdown on White-Collar Crime
The people of the Commonwealth of Redmont, through their elected Representatives and Senators in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:
1 - Short Title and Enactment
(1) This Act may be cited as the “White-Collar CrackDown Act”.
(2) This Act shall be enacted immediately upon its signage,
(3) Authored by Milkcrack
(4) Co-Sponsored by Hugebob
2 - Reasons
(1) White-collar crime is bad
3 - Definitions and Enforcement
(1) Fraud shall be defined as;” an intentional or reckless misrepresentation or omission of an important fact, especially a material one, to a victim who justifiably relies on that misrepresentation; and the victim party or entity suffered actual, quantifiable injury or damages as a result of the misrepresentation or omission.”
(2) Under the Jurisdiction Act, 5 - DEC Oversight of Commerce Regulations will be removed
(1) The following rules shall hereby be defined as laws under the jurisdiction of the Court of DemocracyCraft and subject to enforcement by the Department of Education and Commerce:
(a) Fraud
(b) Job Exclusivity Breach
(c) Tax Evasion
(d) Corporate Espionage
(2) The legal definitions of the subsections named above shall be the same as the definitions of said provisions as rules.
(3) The penalties for the subsections named above shall remain unchanged, barring the provisions for bans.
(4) Any player charged in accordance with any of the above subsections must be notified over discord and in game prior to the Department of Education and Commerce taking action. This Article shall not be interpreted to mean the Department may not enforce the subsections listed above without a response from the player, but rather the Department must do their due diligence to ensure the player is notified.
(5) Fraud must be brought as a formal court case against a player, either by the Department of Education and Commerce or an individual. If the Department of Education and Commerce wishes to file suit against a player, they must do so via the Attorney General's office and must ensure their compliance with Article 5.4 of this enactment. Failure to do so shall result in the dismissal of any case.
(3) A new Provision shall be added under the Jurisdiction act named "9 - White Collar Crime Jurisdiction" in which the following provisions will be added
(1) The DEC in conjunction with the Office of The Attorney General is in charge of Investigating the following crimes; Security Fraud, Embezzlement, Tax Evasion, Gambling Fraud, Anti-Trust, bribery and Money Laundering.
(2) The DOS in conjunction with the Office of The Attorney General is in charge of Investigating Electoral Fraud.
(3) The DOJ in conjunction with the Office of The Attorney General is in charge of Investigating Identity Fraud and whistleblower suppression.
(4) Where a white-collar crime has been committed but does not pertain itself to the explicitly listed, crimes above or pertains itself to multiple crimes, the office of the Attorney General may choose to, investigate said crime alone or with the department(s) of their choice.
(5) Any party or entity can file a civil suit against a party or an entity if they believe the party they are suing has violated a white-collar crime and they have sustained damages because of this. This includes the government. Meaning that the office of the Attorney General may choose to prosecute someone in criminal court or/and in civil court.
4 - Types of Fraud
(1) Security Fraud shall be defined as; ”The Act of fraudulent security trade practices”. Security Fraud has multiple sub-types with each being able to carry additional punishments, with those sub-types being;
(a) Insider Trading shall be defined as “Buying or selling a stock based on non-public information that would substantially impact a trader’s decision to buy or sell” Any owner of a business that sells stocks of his own company has an obligation to make a reasonable attempt to, disclose this information to the shareholders, failure to do so may be considered evidence in an insider trading case.
(b) Market Manipulation shall be defined as; “The act of fraudulently inflating or deflating the value of a company or asset of which you have a responsibility for” Any public company which values its own total market value over 500.000$, is expected to have a publicly available, detailed explanation, of how they reached that evaluation. Failure to do so may be considered evidence in a market manipulation case.
(c) Third-Party Misrepresentation shall be defined as; “The act of intentionally or recklessly aiding and abetting a party or entity in committing market manipulation. This also applies, to a party or entity which is not aware they might be committing market manipulation such as participants in a pump and dump scheme.”
(2) Embezzlement shall be defined as; “The act of withholding assets for the purpose of conversion of such assets, by one or more persons to whom the assets were entrusted, for personal gain.” An example of this law is; spending company funds for personal gain of a company of which you do not own 100%.
(3) Tax Evasion is seen as defrauding the government and shall be defined as; “The Fraudulent non-payment or underpayment of actual tax liabilities due”. Tax Evasion has multiple sub-types each being able to carry additional punishment with those sub-types being;
(a) Balance Tax Evasion shall be defined as “The act of intentionally or recklessly transferring, funds to one or more personal balances or company bank accounts with no legitimate purpose, with the result that less tax is paid.” An example of this is, storing your personal wealth, in a company bank account for no legitimate purpose.
(b) Plot Tax Evasion shall be defined as “ The act of intentionally or recklessly transferring, plots to one or more persons over which they have no legal ownership without a legitimate purpose, with the result that less
tax is paid.” To combat, said behaviour, a merged plot needs to be owned by the same person even after it has been merged.
(4) Identity Fraud, shall be defined as; “The act of fraudulently misrepresenting yourself as someone else or fraudulently claiming you have authority where you don't”
Identity Fraud has a sub-type carrying extra punishment, with that sub-type being;
(a) Government Impersonation, which shall be defined as; “The Act of fraudulently Impersonating a government official or a government employee for financial or another personal gain(s)”
(b) False Credentials, which shall be defined as "The Act of fraudulently misrepresenting yourself or someone else as having a certification, commendation or another type of credential for personal gain."
(5) Electoral Fraud which is defined in the Electoral Act
(6) Money Laundering shall be defined as "Any act to conceal funds illegally obtained, through commercial transactions, business deals, or any means otherwise."
(7) Gambling Fraud shall be defined as " The act of fraudulently explaining how a certain gambling game works". Any party or entity which hosts a gambling game is required, to explain the game when asked.
(8) New Player Fraud shall be defined as "If a player tries to get another player to pay them their starting balance or a portion of it without any reasonable justification or any service or item in return, within the affected players first 12 hours of playtime.
(9) Any player found guilty of New Player fraud shall be fined the amount of money demanded of the new player, If the scammed new player has already paid the scamming player money, the scamming player will have to give that money back to the new player, in addition to the specified fine.
5 - Anti-Trust Laws
(1) Market Allocation: Any sort of deal wherein two or more businesses agree to allocate “territory” to one another to prevent regional competition.
(2) Bid Rigging: Any sort of deal wherein two or more businesses and/or persons agree to not bid against one another to minimize their losses.
(3) Price Fixing: Any sort of deal wherein two or more businesses agree to keep prices at a certain point to avoid price competition.
(4) Monopolization: Any sort of deal wherein two or more businesses seek to merge into a single entity or owner-subsidiary relationship that controls a disproportionately large amount of market share in any particular market.
(5) A deal wherein bidders, businesses or auctioneers enter into a deal with each other to maximize profits of auctions is hereby illegal.
(6) Corporate Espionage: Any parties participating in, or accessory to the gathering, infiltration, or compromise of any sensitive company information that has not already been released to the public under the instruction of the company's controlling interest.
6 - Whistleblowers
(1) Whistleblower Suppression; No employer may discharge, demote, suspend, threaten, harass, or in any other manner discriminate against a covered individual in the terms and conditions of employment of the covered individual because of any lawful act done by the covered individual to report information regarding a violation of a corporate crime.
7 - Bribery
(1) Bribery shall be defined as the act of offering, giving, soliciting, or receiving an item or service of value to influence an individual holding public office or serving in a legal capacity.
8 - Punishment
(1) Any party or entity found liable for fraud can receive punitive damages up to 10.000$ for a player and up to 100.000$ for a company. As well as being required to compensate, the defrauded party, which includes attorney fees. A judge may also grant extra punitive damages to a company if they believe that said company is guilty beyond a reasonable doubt and most likely would be found criminally guilty if that was possible. Those extra punitive damages may not exceed more than 150% of the “profits” the company gained by committing fraud.
(2) Any player found guilty of fraud or attempted fraud shall receive up to 10min of jail time as well as a fine of a minimum of 100$ to a maximum of 50.000$ as well as being required to compensate the defrauded parties.
(3) The following crimes can have extra criminal punishments this will be in addition to the regular punishment;
(a) If a player is found guilty of the crimes of; security fraud, embezzlement, money laundering, anti-trust laws, whistleblower suppression or Tax Evasion the Department of Education and Commerce will suspend, their entrepreneur license and bar registration or ownership of any company or union. This ban will last until the crime is stricken from their criminal record, the individual is pardoned or, the Secretary of the Department of Education and Commerce chooses to end the ban.
(4) Electoral fraud does not carry, the regular criminal punishment for fraud, and is instead outlined in the Electoral Act. However, the civil version of Electoral fraud will carry the regular punishment of fraud
(5) Any player found guilty of an Anti-Trust Law shall receive up to 10 min of jail time as well as a fine of a minimum of 250$ to a maximum of 50.000$.
(6) Any party or entity found liable for violating an Anti-Trust law can receive punitive damages up to 50.000$ for a player and up to 100.000$ for a company. As well as being required to compensate, the suing party if sustained damages which include attorney fees.
(7) Any player found guilty of bribery shall receive up to 10 min of jail time as well as a fine of a minimum of 500$ to a maximum of 50.000$ as well as the issuance of barring from holding public office for a period no longer than 2 months.
(8) Any player found guilty of Whistleblower suppression shall receive up to 10 min of jail time as well as a fine of a minimum of 250$ to a maximum of 50.000$.
(9) Any party or entity found liable for violating the Whistleblower suppression law can receive punitive damages up to 50.000$ for a player and up to 100.000$ for a company. As well as being required to compensate, the suing party if sustained damages which include attorney fees.
9 - Redactions
(1) The following acts shall be redacted;
(a) Corporate Crimes Act
(b) Casino Regulations Act
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