Reasons behind the White Collar Crimes of Charles Ponzi

In criminology there are numerous theories as to the causes of different types of crime. These theories are extremely important in the continuous debate of the ways in which crime should be managed and prevented. Many theories have surfaced over the years. These theories continue to be explored individually and in combination, as criminologists search for the best solutions in ultimately reducing types and levels of crime. These theories include rational choice theory, social learning theory, and biology amongst many others. In this case study strain theory will be used to describe the reasons behind the white collar crimes of Charles Ponzi.
Charles Ponzi was born Carlo Ponzi in Lugo, Italy. His parents were far from wealthy but had an enormous reputation which placed them in aristocracy. From an early age, Ponzi’s mother placed high expectations on him. She had hoped he would restore the family to its former social and financial rank (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 of the aristocracy of the family, Ponzi sought after the wealth to accompany the reputation. At school he was accepted into a group of the wealthy elite, and often gambled to increase his monetary allowance. This however only bankrupted him, forcing him to drop out of the University. Urged by his uncle to leave Italy in pursuit of the United States because “he was refined and from a good family” and he could easily become wealthy in the United States. His uncle continued by telling young Ponzi, “in the United States, the streets are actually paved with gold. All you have to do is ...

... middle of paper ...

...riminal activity. This is because individuals become enthralled with their status in the community and want to achieve it anyway possible. This type of social structure "produces a strain toward anomie and deviant behavior. The pressure of such a social order is upon outdoing one's competitors (Thio, 2006)." Anomie strain theory is a good but difficult theory to implement. It offers "a way of constraining crime by improving the legitimate life chances of those who may otherwise make the choice to innovate defiantly (McLaughlin, 2001)."
Charles Ponzi’s dream of wealth and success followed him until his death. Charles stayed in Rio de Janeiro with hopes of "finding his way" financially, but instead he died in a charity ward. His main flaw throughout his life was his downfall. He reached the dream of aristocracy America provided him, but it was only short-lived.