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Top 5 Most Notorious White Collar Criminals

White-collar crimes, unlike blue-collar crimes, always involve money in some way or another. The goal of a white-collar criminal is financial gain at the expense of another. Embezzlement, fraud and other schemes aim to make the criminal wealthy while the victim experiences a loss. White collar crimes occur on a daily basis, but here are five of the most notorious cases of all time.

1. Martin Frankel

Most investment bankers don’t rely on astrology to inform their trading decisions. When this happens, you have issues on your hands. Martin Frankel used astrology to decide when to trade, eventually defrauding people of more than $200 million. Frankel was caught in Germany after fleeing the United States and pled guilty to 24 separate counts in 2002.

2. John Rigas

Many people haven’t heard of John Rigas, but they’ve heard of his company: Adelphia Communications. Once one of the largest cable companies in the nation, Adelphia had 5.6 million customers across more than 30 states. The company did not report its debts and, in addition, claimed to have profits close to $2.3 billion. It was all a lie. Rigas was eventually sentenced to 15 years in prison for his financial crimes.

3. Jack Abramoff

Abramoff was sentenced to six years in prison and ordered to pay $25 million in restitution to his victims, namely Native American tribes whom he had defrauded. A political lobbyist, Abramoff ruined not only his own career, but that of an Ohio congressman. He also forced the government to create a task force entirely dedicated to an investigation into his various financial crimes.

4. Bernie Madoff

Madoff utilized the Ponzi scheme to bilk investors of $800 million. Madoff began his schemes in the 1970s and continued them into the early 2000s. When all was said and done, Madoff was found guilty and sentenced to 150 years in jail.

5. Enron

Enron was once the seventh largest company in the country. They used shell corporations to fabricate profits. They hid millions of dollars in debt, and by the time their crimes were discovered, were actually billions in debt. The company’s stock plummeted and several high level employees were sentenced to prison for their part in the company’s deceptive practices.

If you are facing charges of a white collar crime in Atlanta, you need an experienced attorney you can trust. Contact the offices of Hawkins Spizman Fortas to set up an appointment for a free case evaluation.

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