Minnesota's own Best Buy announced that its CEO Brian Dunn had stepped down from the electronics giant's highest position and some have been quick to lump him in with other CEOs who have faced disgraceful ends to their careers. Although Dunn has not been charged with any white-collar crimes, many people have been quick to convict him in the court of public opinion. Like many highly public business scandals, speculations are flying about what could have forced Dunn's resignation.
A spokesperson for Best Buy said that the company would be investigating Dunn and would make public its findings when the investigation is complete. It is also possible that any evidence that the company discovers will also be turned over to police and prosecutors for a possible criminal conviction.
Some have said that when a defendant or suspect is a CEO of a big company, people are much less likely to consider the CEO innocent until proven guilty. Even if accusations and allegations don't lead to criminal charges, they can easily end an individual's career.
Not everyone in Minnesota who is accused of a white-collar crime will be the CEO of a company as large as Best Buy. But regardless of the size of the business, company or organization, it is important to hire a strong white-collar criminal defense attorney to protect one's rights. Especially with the media attention that comes with a case of embezzlement, for example, it is crucial that an attorney ensures that the suspect receives a fair trial and is only convicted on reliable evidence.
As Dunn's case unfolds, it would be wise for the former CEO to consult with a criminal defense attorney, what with other CEOs' bad luck with internal investigations.
Source: The Associated Press, "Best Buy's Dunn departure sparks speculation," Ann d'Innocenzio, April 12, 2012
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