> Punitive punishment serves as a deterrent to other businesses.
You mean the owners and management and employees? Because a "business" in the way it's being suggested isn't a human with emotions or feelings, you can't "deter" a legal construct...
If you can't deter a business, what function do fines and monetary legal judgements on businesses have?
What about the investors into businesses that make money through fraud and other illegal acts? My theory is that if the return on investment for a business making profits through fraud is literally zero, investors would figure out a way to start avoiding investing in fraudulent businesses pretty fast.