Boiler Room-legal perspective - Essay Example

Legal perspective The movie boiler room revolves around a young man in his early twenties known as Seth Davis. A collagedrop out, Seth is torn between two powerful ambitions pulling his life in opposite directions. He is yearning for his father’s approval and the affinity for easy money. Despite a failed academic expedition in collage, Seth manages to run a lucrative successful illegal Casino enterprise in his private apartment.However, there is disillusionment from his father who prefers him dropping the venture to respectable business for a genuine living(Boiler room).

He finally settles for his father’s advice and he relinquishes his Casino business for a brokerage firm J.T Marlin a seemingly reputable firm. This is later to be a paradox as under tactics takes centre stage in his new employers operations. He comes to the terms that T.J marlin transacts its businesses through deceit and fraud in trading of securities and finance. The ambitious man finds himself in a limbo on whether to embrace the fraudulent schemes of his new employer or just quit altogether.

Various legal issues are prevalent in the movie. Underground schemes and deals not within the confinement of business regulations play core part in running the two enterprises in the movie. In the first scenario, Seth’s runs an illegal Casino enterprise to mean that the authorities do not approve its operations. This eventuality contravenes the prevailing business regulations as every business should be operated based in the confinement of stipulated business procedures. Similarly, it is a legal twist and a paradox that Seth’s father is a judge yet he covers his son’s illegal business.

The clarity of the law demands that anybody who undertakes an illegal activity is liable to prosecution thus protecting those amounts to crime. Considering the fact that the Judge had privy knowledge of his son’s illegal business and choosing not to take a legal route, the judge is liable for prosecution. The second employment Seth embraces is awash with legal issues too. He gets to lean that T.J Marlin deals in nonexistent stocks. The firm’s chief executive stage manages the sale of stocks by coining a name that the stocks are transacted through (Boiler room).

Such an act contravenes the procedure whereby stocks need to be openly listed and the beneficiaries with clear details and information of the purchasers. Fraud is punishable by law and this forms the base of another legal issue in the movie. This is evident when T.J Marlin makes fake IPO’s. Marlin then predisposes an artificial demand by pushing trading of stock to open market. Subsequently, he deliberately halts the push thereby enabling the stock to crash. This fraudulent scheme contravenes the law as it manipulates the sale of stocks to the merit of J.T Marlin. The role of investigations as a vital part of the legal system is widely covered in the movie by the inclusion of the Federal Bureau of Investigation.

After suspecting the operations of T.J Marlin, the investigation body to get into the roots of its fraudulent undertactics.This is done with the final objective of prosecuting the initiators of the schemes if found guilty. Seth’s under pressure from Federal Bureau of Investigations is assured of exoneration only if he corporate by divulging more information on T.J Martin underground operations.Evation and selective justice is manifested in the movie when Seth’s father is not prosecuted for the significant part he played by concealing his son’s illegal casino business.

His prosecution is supported by the legal stipulation that it is an offence to conceal criminal information to the authorities. Considering he is a judge, he should not be excused for acting ignorant to such a legal provision (Boiler room). The role of business laws in effectively controlling business and preventing various players from overstepping their mandate is of significance in boiler room movie. This emanates from the occurance; genuine investors are duped by unscrupulous traders leading to the loss of hard-earned money in the stock market.

The need for oversight departments within the state to ascertain constantly the reputation of business operations is legal aspect that really needs to be considered. This would go an extra mile in identifying illegal and fraudulent businesses in time before investors become victims of their fraudulent schemes. Similarly, the pivotal role that investigation plays in uncovering underground schemes is legally beneficial to the various businesses and investors. For example, the inclusion of agencies such as Federal Bureau of Investigation provides the public with prior information on the levels of reputation of businesses.

This enables investors to make wise decisions before embarking on business deals. Work Cited Boiler Room. Dir. Ben Younger. 2000. Film.