Most Infamous White Collar Criminals
Crimes committed against person or property, where no violence is employed, are called white collar. These crimes usually involve large sums of money gained by theft, fraud or embezzlement. Schemes are enacted to cause the financial loss of the victim. Because they don’t typically employ violence in their crimes, these criminals tend to pique our interest. Here are five of the most infamous white collar criminals today.
1. Bernie Madoff
Madoff used a scheme made popular by Charles Ponzi decades ago. He set up a sort of scheme where investors would give him money that he would, in turn, invest in his own bank account instead of stocks. He did this with so many people that when one asked for some of the profits from their investments, he would pull it out of his own account. Eventually the funds dried up and he was caught. He will be spending the rest of his life in prison.
2. Charles Ponzi
Speaking of Charles Ponzi, many people have heard of a Ponzi scheme but few remember the man that started it all. In the 1920s, Ponzi bought discounted postage coupons with money from investors. He then got larger investments from even more people. He paid back the first group with money from the second group and so on, all while lining his own pockets with about $20 million.
3. Jack Abramoff
This man set up his own ruin. His list of charges is long, but he is known to have defrauded Native American tribes and bribing government officials. It took an entire governmental task force to investigate Abramoff and eventually sent him to jail. He has also been ordered to pay $25 million in restitution.
4. John Rigas
Many people have a love/hate relationship with their cable company. Rigas may have been the man that spun the industry out of control. The founder of Adelphia Communications held a monopoly in 30 states and falsified profits of $2.3 billion. He was sentenced to 15 years in prison for his shady practices, but was released early due to his failing health.
5. Tyco
This is the case of a company acting as criminal. In 2002, the company found itself in the center of a stock scandal. They have been stealing money from their shareholders for years. They sold stocks, claimed them as bonuses and CEOs lead lavish lifestyles. Each behind the scandal was sentenced to 25 years in prison.
If you have been accused of a white collar crime in Orlando, you need an experienced attorney on your side. Call our office today for more information about how we can assist you. Your first consultation is free.