Even though they break thousand one dollar bill suits , sit behind expensive desk and make derisory money , rich business community can still be criminals and steal your money . White leash crime is a type of crime that has been taking position for decades and still draw rearing in the mod day .
Some of the people that will appear on this list are responsible for stealing / losing millions and sometimes even billions of dollars that do n’t go to them . Read on and check out 10 of the spoiled white collar felon in chronicle .
10. Michael Milken
bug out off our tilt is Michael Milken , who was the head of the mellow - yield bond department of Drexel Burnham Lambert , which was a large investment funds banking firm in the USA . He rose to the public eye for his involution in popularizing the market place for high-pitched - takings “ detritus ” Bond . “ Junk ” bonds are bonds that have a high risk of infection of default or other adverse credit rating consequence , but typically pay high-pitched yield than actual quality alliance to make them attractive to investor . He was arrest after a colleague come out him for pee-pee fallacious transactions such as insider trading and stock manipulation . He was break water $ 600 million and was condemn to 10 year in prison house , but served only two . He was also responsible for Drexel Burnham Lambert filing for failure in 1990 .
http://grabpage.info/t/www.bing.com:80/images/search?q=Mike+Milken&FORM=RESTAB author : Grabpage.info
9. Jerome Kerviel
Kerviel was a former employee of Société Générale , which is a gravid multinational banking and financial armed service party that is headquarter in Paris . Kerviel rise to fame in the financial industry in 2008 as a rogue monger , which means he administer trade that were not approved by his employer and kind of “ did his own affair . ” However , this went horribly incorrect over a three day period when Kerviel lost his company around $ 5.5 billion . In 2012 , he was condemn to three years in prison as a result of this law-breaking .
http://www.femmeactuelle.fr/actu/news-actu/kerviel-l-homme-qui-devait-4-9-milliards-03560 Source : Femmeactuelle.fr
8. Dennis Kozlowski
Kozlowski was a former CEO of Tyco International , which is a security systems company headquartered in the USA . As the chief executive officer , Kozlowski was well known for his profligate lifestyle and spending habits , let in pay a staggering $ 1 million for a single natal day political party . He was thrown into the public eye in 2005 when he was charge with offense related to the fact that he received $ 81 million in unauthorized incentive from the company , and even used ship’s company money to buy a $ 30 million New York City flat . He ended up serve nearly 10 years in prison and was recently free in January of 2014 .
http://www.nydailynews.com/new-york/tyco-ceo-dennis-kozlowski-tells-parole-board-greedy-begs-freed-article-1.1060196 Source : Nydailynews.com
7. Nick Leeson
Leeson was a former derived function trader with Barings Bank , which was the UK ’s former merchandiser bank . When his trade were n’t endure well with losses of about $ 2 million , Leeson made a mistake that would change his life and the UK financial industriousness forever . On the eve of January 16th , 1995 , he basically bet that the Nipponese line market would n’t move that much overnight . But , in the other hours of January 17th , the Kobe temblor hit and send the markets plummeting . He try out to promptly rectify these losses with a couple of increasingly risky trades that did n’t pay off . By the end , about a month later , Leeson ’s loss totaled $ 1.4 billion , which was twice the available trading majuscule of the party , which sent it under . He was sentence to six and a half twelvemonth for his crime .
http://www.thegentlemansjournal.com/frauds-wall-street/ author : Thegentlemansjournal.com
6. Jack Abramoff
Jack Abramoff was originally a college Republican who finally became a lobbyist . As a lobbyist , he would wind up being at the center of one of the bighearted political corruption malicious gossip in U.S. account . In his heyday , Abramoff had access to the Bush administration and several other top Republicans and was very powerful in his role . His crimes came to light when he was forge on aboriginal American casino gaming interests , when it was let out that he and his partner , Michael Scanlon , grossly overbilled their clients and pocketed the money . Overall , they charged $ 85 million for their services , which is much more than it should have been . He was doom to a prison house condition of six geezerhood for his part in the scandal .
http://likesuccess.com/author/jack-abramoff Source : Likesuccess.com
5. Allen Stanford
http://abcnews.go.com/topics/business/CEOs/allen-stanford.htm Source : Abcnews.go.com
4. Charles Ponzi
Speaking of Ponzi dodging , this man is the originator of the term . Charles Ponzi was an Italian businessman who was made famous for his cons in the USA and Canada . He promise his poor customer a 50 % earnings within 45 Clarence Shepard Day Jr. , or 100 % gain within 90 Clarence Shepard Day Jr. , by buying discounted postal reply coupons in other country and sell them back at face time value in the United States as a form of arbitrage , which is taking advantage of the price deviation between two or more market . His scheme run for about a year and be his investors about $ 20 million in 1920 , which equal about $ 250 million in terms of 2015 dollars .
http://biografieonline.it/morti.htm?d=0118 reservoir : Biografieonline.it
3. Kenneth Lay
Lay was an American businessman and the CEO of Enron during their monumental scandal , and played a leading part in the corruption taking place . Enron was a public energy company and their crash was one of the biggest scandals of all time . Despite seeming like it was thrive as a companionship , Enron was n’t really doing very well . In monastic order to hide this fact , they took advantage of loose accounting system regulation , tax loophole and all kind of unethical practice . By hiding their true worth , everyone and their nan believe the caller was doing fantastic and wanted to invest . But once the truth came out , they lost everything and the company went under . Lay was expect to be condemn to around 10 yr in prison house but actually died on a vacation in Colorado a few months before his sentencing .
http://www.nbcdfw.com/the-scene/real-estate/Ken-Lays-Condo-for-Sale-128-Million-60643257.html Source : Nbcdfw.com
2. Bernie Ebbers
Ebbers is a Canadian businessman who co - institute and was the former CEO of the telecommunications fellowship , WorldCom . standardized to the Enron outrage , WorldCom was found to have been circumvent their numbers to make the society appear more worthful in monastic order to lure investors . Ebbers himself was a billionaire and was making a killing from his fraudulent bodily function . At the time , this was the largest accounting malicious gossip in US history , as they inflated their company ’s Charles Frederick Worth by about $ 11 billion . For his role in this mess , Ebbers was sentenced to 25 years in prison .
http://www.20min.ch/finance/news/story/Junk-Bonds–Spekulationen–frisierte-Bilanzen-30431580?redirect=mobi&nocache=0.5 Source : 20min.ch
1. Bernie Madoff
There must be something about the name Bernie . Bernie Madoff is well known as the founder of his own Wall Street business firm , and also known as a big time chiseler and Ponzi scheme operator . In fact , Madoff was behind the single bighearted fiscal fraud scandal in U.S history . Essentially , his whole operation was nothing but a huge lie and he was able-bodied to swindle thousands of multitude out of billions of dollars . It is estimated that the terminal amount missing from client accounts was around $ 65 billion . As a result , Madoff was sentenced to 150 years in prison , the maximum that was allowed .
http://nypost.com/2025-05-09/bernie-madoff-a-maestro-of-obscenities/ Source : Nypost.com
