Years ago Leona Helmsley — a fabulously wealthy real estate developer who ultimately went to jail for tax evasion — was alleged to have said, “We don’t pay taxes. Only the little people pay taxes.” If a company sends a message that “Only the little people” need to follow its rules — including the rules requiring managers to be aware of what their subordinates are up to — then its ethics and compliance program is in dire peril.
— By Jeff Kaplan, in a discussion with Steve Priest posted on ECOA Connects, available here.
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