Tax dodgers, fraudsters and insider traders are often greedy or lazy but jailing them is a waste of money because it doesnt work as a deterrent, law academic Mirko Bagaric told a white collar crime penalties inquiry in Melbourne on Tuesday.
However that was refuted at the public hearings by Australian Securities and Investments Commission special counsel Rowan Davis who says prison time does prey on the minds of white collar criminals. Based on 22 years of investigating and prosecuting criminals, jail was a definite deterrent, Mr Davis said.
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