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Depends on how broadly you define frauds/charlatans. Sure no one really went to jail for managing their banks risk poorly. But literal actual frauds - ponzis
by steveBK123 4y ago
Depends on how broadly you define frauds/charlatans.
Sure no one really went to jail for managing their banks risk poorly.
But literal actual frauds - ponzis, etc.. some high profile cases you may have memory holed. Madoff, Allen Stanford, and dozens of smaller ones that popped up week to week as the market went down.
Plus all the insider trading cases that shut down SAC for a while and put a bunch of PMs in jail or to negative net worth.
- steveBK123 4y agoYou can also probably connect the dots to the LIBOR scandal breaking as well. That one of course I think the wrong people went to jail (the guys at the bottom dumb enough to put the deeds in writing vs the guys ordering it & supervising) & it was less criminal than unethical / immoral / etc.
- steveBK123 4y agoQuite a good number of 100Millions - Billion(s) scale ponzis taken out & put in jail during GFC. 15 years ago, that used to be a lot of money! https://en.m.wikipedia.org/wiki/Scott_W._Rothstein https://en.m.wikipedia.org/wiki/Scott_W._Rothstein https://en.m.wikipedia.org/wiki/Tom_Petters https://en.m.wikipedia.org/wiki/Tom_Petters https://en.m.wikipedia.org/wiki/Laura_Pendergest-Holt https://en.m.wikipedia.org/wiki/Laura_Pendergest-Holt https://en.m.wikipedia.org/wiki/Saradha_Group_financial_scandal https://en.m.wikipedia.org/wiki/Saradha_Group_financial_scan... https://en.m.wikipedia.org/wiki/Gary_Sorenson https://en.m.wikipedia.org/wiki/Gary_Sorenson