J. Bradley Smith of Arnold & Smith, PLLC answers the question “Can I be arrested without evidence against me?”
It seemed like such a big deal until all the malfeasance that (allegedly) caused 2009’s Great Recession came to light, causing the collapse and usurpation of thousands of businesses large and small, nationwide.
Enron was an energy company. It collapsed. People were mad and, true to form, politicians seized on the madness, blamed their opponents for causing it, and proposed a solution politicians are often (or always) apt to propose: a new law.
Out came Sarbanes-Oxley, an Act designed to combat the kind of white-collar financial fraud that led to Enron’s demise. Like many laws, the Act was written broadly, was “too broad and undifferentiated,” according to United States Supreme Court Justice Elena Kagan, “with too-high maximum penalties, which give prosecutors too much leverage and sentences too much discretion.”