Actors or activities? On the social construction of "white-collar crime'' in the United States

Fraud in the U. S. penny-stock industry has recently garnered a great deal of media attention. This article documents and deconstructs several cases of penny-stock fraud, and examines the sociology of securities regulation. The author concludes that securities enforcement in the United States is directly related to the social construction of "white-collar" crime, predicated to a degree on the academic literature in this research area.