Topic > The reasons for white collar crimes by Charles Ponzi

In criminology there are numerous theories on the causes of different types of crime. These theories are extremely important in the ongoing debate about the ways in which crime should be managed and prevented. Many theories have emerged over the years. These theories continue to be explored individually and in combination as criminologists search for the best solutions to ultimately reduce the types and levels of crime. These theories include rational choice theory, social learning theory, and biology, among many others. In this case study strain theory will be used to describe the reasons behind Charles Ponzi's white collar crimes. Charles Ponzi was born Carlo Ponzi in Lugo, Italy. His parents were far from wealthy but had enormous reputations that placed them among the aristocracy. From an early age, Ponzi's mother placed high expectations on him. He had hoped that it would restore the family to its former social and financial standing (Zuckoff, 20). An inheritance from his father allowed Ponzi to attend the University of Rome, which only further perpetuated the goals his mother desired for him. From the stories his mother often told him about the family's aristocracy, Ponzi sought wealth to accompany reputation. At school he was accepted into a group of wealthy elite and often gambled to increase his monetary allowance. This, however, only bankrupted him, forcing him to abandon the University. Pushed by his uncle to leave Italy in search of the United States because "he was refined and from a good family" and could easily get rich in the United States. His uncle went on to tell the young Ponzi, “in the United States the streets are actually paved with gold. All you have to do is… half the paper… marginal activity. This is because individuals become fascinated by their status in the community and want to achieve it in any way possible. This type of social structure "produces a tension towards anomie and deviant behavior. The pressure of such a social order is to outperform one's competitors (Thio, 2006)". Anomic deformation theory is a valid but difficult theory to implement. It offers “a way to limit crime by improving the legitimate life chances of those who might otherwise make the choice to defiantly innovate (McLaughlin, 2001).” Charles Ponzi's dream of wealth and success followed him until his death. Charles remained in Rio de Janeiro with the hope of "finding his way" financially, but instead died in a charity ward. His chief flaw throughout his life was his downfall. He achieved the dream of aristocracy that America provided him, but it was only short-lived.