> 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...

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.

If you can't deter a business, what function do fines and monetary legal judgements on businesses have?