Right, but one of the issues is that a corporate "person" isn't the same as an individual person, and they don't overlap completely. They are only treated as persons under the law with regard to certain rights/obligations (sue and be sued, open a bank account, pay taxes, etc). But a corporation isn't a person for purposes of criminal culpability; i.e. you could never arrest a corporation for murder. Though corporations are just groups of individuals who themselves could absolutely be guilty of crimes.

There's a whole section in the Wikipedia article on corporate personhood that addresses these misconceptions[1].

I guess the real world "corporate guillotine" is for a corporation to be sued/fined out of existence or go bankrupt, all of which can happen due to gross negligence, bad behavior, or criminal behavior (see: Gawker Media, Bear Stearns, etc). But obviously jail is reserved for individuals who commit actual crimes, not corporations who are, after all, merely legal vehicles for pooling resources.

[1] https://en.wikipedia.org/wiki/Corporate_personhood#Misconcep...