From history, Al Capone wasn't charge with murder, violence, assault, battery, embezzlement, theft, etc. He was charged with ... Tax Evasion (!) and it stuck.

From history, Al Capone wasn't charge with murder, violence, assault, battery, embezzlement, theft, etc. He was charged with ... Tax Evasion (!) and it stuck. As far as I can tell, Al Capone just needed to incorporate his criminal enterprise, and then his corporation would penalized, but he wouldn't go to prison. As to securities fraud, if a publicly traded company lies facts material to criminal acts, then yes it should securities fraud -- particularly if it hurt the stock holders (and in this case it did!). This would be different than say a CEO cheating on his wife and lying about it.