Behind the weekly headlines of corporate guilty pleas and multimillion-dollar corporate criminal resolutions lies a back story — little known, less well understood — that challenges the core of what those headlines pronounce. In a peculiar 21st century phenomenon, guilt or innocence has become largely beside the point for corporations defending themselves against aggressive federal prosecutors and allegations of criminal wrongdoing.
How else to explain the non sequitur in the advice that seasoned white-collar counsel often give to their Fortune 500 clients: While the evidence is strongly in the company’s favor, and there are excellent legal and constitutional defenses to the alleged misconduct, the company nevertheless should consider admitting to criminal wrongdoing and entering a plea of guilt.
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