3 ms·
That's exactly it - It's not illegal to take bribes as an officer of a corporation; it's illegal to defraud others while doing so. If you take a personal bribe
by GauntletWizard 4y ago
That's exactly it - It's not illegal to take bribes as an officer of a corporation; it's illegal to defraud others while doing so.
If you take a personal bribe to tank your business, that's between you and your business partners - a civil matter unless your business partners are John Q public (Which is why the SEC exists). It is entirely legal to enrich yourself at the expense of a business you wholely own, with the obvious caveat that the courts will pierce the veil if you've committed crimes as that company.
- mcculley 4y agoThis is not my understanding at all. The U.S. has laws against non-public entities taking and paying bribes (e.g. Foreign Corrupt Practices Act).
- GauntletWizard 4y agoPaying bribes to government officials, foreign or domestic, is obviously illegal. That's not what I'm talking about, though. Individuals are allowed to accept money for most reasons, and that includes doing things that are against their own or other's interests (so long as those actions aren't in themselves crimes).
- mcculley 4y agoSee https://en.wikipedia.org/wiki/Commercial_bribery https://en.wikipedia.org/wiki/Commercial_bribery