Marquet International's White Collar Rogues Gallery
Below are some of the more notorious US white collar fraud cases in recent (and some past) history. Please note that this is a work-in-progress and by no means is meant to be all inclusive or a selection of the "worst of the worst". So if you have a candidate for our White Collar Rogues Gallery, please e-mail us at info@marquetinternational.com with some details and we will consider adding them.
| Bernard Madoff |
Department of Justice mugshot |
Bernard L. Madoff was born in Queens, New York, in 1938, where he was raised. He founded Bernard L. Madoff Investment Securities right out of college, which started as a penny stock exchange in 1960. The business did very well; its innovative use and development of computer information technology was eventually replicated to create the NASDAQ, of which Madoff eventually became chairman. But it was not long before the worm at the heart of this golden apple was discovered, as financial analyst Harry Markopolos informed the US Securities and Exchange Commission that he believed the gains Madoff claimed were mathematically impossible. But both the Boston and New York branches of the SEC either ignored or dropped the ball on Markopolos’ several attempts at whistleblowing. Nevertheless, on December 10th, 2008, Madoff reportedly confessed to his two sons, Mark and Andrew Madoff, that his business was “one giant Ponzi scheme.” Upon hearing the details, the sons were supposedly so horrified that they reported their father in to federal authorities. At 8:30am the next morning, Madoff was arrested in his Manhattan apartment, where he confessed again to the FBI agents. “There is no innocent explanation,” he told them. Madoff was charged with securities fraud. In February of 2009, Madoff came to an agreement with the SEC, and was permanently banned from the securities industry. He pleaded guilty to 11 federal offenses, including securities fraud, wire fraud, perjury, money laundering, mail fraud, theft from an employee benefit plan, making false filings with the SEC, and making false statements. On June 26th, 2009, Federal Judge Denny Chin ordered Madoff to forfeit $170 billion in assets. On June 29th, 2009, Madoff was sentenced to 150 years in federal prison without parole. He is currently incarcerated at the Butner Medium Federal Correctional Institution in North Carolina. There are still a number of unsolved mysteries swirling about this case, however. Madoff claimed he began his ponzi scheme in 1991, but Judge Chin stated he believes it actually begin in the 1980’s. Original complaints stated Madoff defrauded clients of $65 billion, but analysts continue to debate the true figure and have admitted that while the exact amount will never be known, it is likely to be between $10—$20 billion. Madoff also insisted he was the sole perpetrator of the fraud. However, since then Madoff’s right hand man, Frank DiPascali, and Madoff’s accountant, David Friehling, have each plead guilty to securities fraud and a number of other federal offenses. In addition, both of Madoff’s sons, his brother Peter, and niece Shana, have all been accused of fraud and are currently being sued for negligence and breach of fiduciary duty. It is believed by many observers that these family members must have known about the fraud, given its longevity, their work within the company, including roles as corporate and compliance officers, and their personal investments in the scheme. Madoff’s wife, Ruth, was also accused of withdrawing $15 million from company-related accounts just before Madoff confessed. She has settled with federal prosecutors by forfeiting her claim to $85 million in assets. Madoff has apologized to his victims, saying he has left a “legacy of shame” to his family and grandchildren, but Judge Chin stated his crimes were not only “extraordinarily evil,” but “off the charts,” as federal sentencing guidelines for fraud only go up to $400 million. If he maintains “good behavior” in prison, Bernard Madoff, believed to have perpetrated the largest ponzi scheme in history, will be released early from Butner Medium FCI on November 14th, 2139. |
| Sholam Weiss |
Weiss upon extradition in 2002 |
As with many other White Collar Rogues, Sholam Weiss is a repeat offender. After growing up in Brooklyn, New York, Weiss bought and ran Windsor Plumbing Supply when he was 20 years old. After the company went bankrupt in the late 1980’s, Weiss was indicted on mail fraud charges for claiming a $1 million loss in bathtub inventory allegedly damaged in a fire at one of his company warehouses in 1986. He was found guilty of this fraud in 1994 and sentenced to 8 months in prison. But the crimes for which Weiss would become notorious did not begin until he was in his late 30’s, when federal authorities say he began looting the National Heritage Life Insurance Company. Authorities alleged that in 1993, Weiss and several associates defrauded the company after they managed to purchase National Heritage with its own funds, by lending the money back to themselves after procurement. The company would later go bankrupt, with over $450 million in losses, the highest insurance company failure in history, according to the FBI. On November 1st, 1998, Weiss was tried on 78 counts of fraud, racketeering, and money laundering. During the trial, Weiss’s behavior was so churlish that his attorney, Joel Hirschhorn, felt the need to remind the jury that Weiss was not on trial for being rude. On October 29th, 1999, Weiss fled the courtroom just as the jury was about to begin deliberating, and escaped. He was declared a fugitive and placed on the FBI’s most wanted list. On November 1st, 1999, he was found guilty on all charges, and on February 19th, 2000, he was sentenced in absentia to over $125 million in restitutions to the policy holders of National Heritage, and over $123 million in penalties, in addition to spending 845 years in prison, what is believed to be the longest federal prison term ever imposed. According to reports, Judge Patricia Fawsett, unable to order life imprisonment, devised the 845 year sentence by stacking one 20 year count upon another. She declared Weiss should be removed from society, permanently, given the magnitude and repeated nature of his fraudulent acts. After spending a year abroad as a fugitive, Weiss was finally captured in Austria in the fall of 2000. While the Austrian government was working out the details of his extradition back to America, Weiss paid a sum of $1 million to be temporarily released on bail. Austrian law, however, states that bail may not be paid for with illegal funds, and it was determined that there was no other way Weiss could have come up with the money. Consequently, he was extradited to the US on June 13th, 2002, despite attempted interventions by both the United Nations and the European Court of Human Rights to keep him in Austria. Weiss is currently carrying out his 845 year sentence in the US Penitentiary Canaan, 20 miles east of Scranton in Pennsylvania. Assuming he does not die of old age, Sholam Weiss will be free to attempt embezzlement again come November 23rd, 2754. |
| Kobi Alexander |
Kobi Alexander being questioned by the media |
Jacob "Kobi" Alexander, an Israeli-American dual citizen and the former CEO of Massachusetts-based Comverse Technology, was accused on July 29, 2006 of securities fraud, wire fraud and mail fraud by the State of New York while he was vacationing in Israel. Contrary to a reported agreement that he would return to New York to face the charges, Alexander instead went to Namibia, becoming a fugitive from the US and having the distinction of being placed on the FBI's Most Wanted List. He was subsequently charged in August 2006 of securities fraud by the SEC, along with alleged co-conspirators, William F. Sorin and David Kreinberg, former General Counsel and CFO of Comverse, respectively. The charges relate to alleged backdating of stock options. On September 27, 2006, Alexander was arrested in Namibia where he had traveled with his wife and three children. Prior to his arrest, however, Alexander reportedly was able to transfer nearly $17 million from his Israeli bank accounts to Namibia. He had previously been able to transfer some $40 million from US accounts to Israel, according to reports. While his two alleged co-conspirators, Sorin and Kreinberg have both plead guilty and agreed to restitution in this case, Alexander has started a new business in Namibia, Kobi Alexander Enterprises, according to press reports, which is involved in the construction of "low income homes." January 2008, Comverse sued Alexander and Sorin for $70 million and Alexander has countersued, alleging that the company owes him some $72 million in compensation. Alexander has had his extradition hearing postponed several times and it is now scheduled for June 16, 2008. |
| Conrad Black |
Black during his fraud trial 2007 |
Until recently, Conrad Black was a prominent Canadian business executive, investor and media mogul known for his extravagant lifestyle. He served as Chairman and CEO of Hollinger International, a publicly traded media conglomerate in which he had a significant ownership interest. On November 17, 2003, the Hollinger's board of directors announced that it had conducted an internal investigation which revealed that Black had received some $7 million in unauthorized compensation from the company and he was forced to resign as CEO and later as Chairman. The company sued Black, several of his investment vehicles and David Radler, another former executive, to recover $200 million in alleged damages. The Securities & Exchange Commission filed a civil action against Black on November 15, 2004 and on November 17, 2005 an 8-count criminal indictment was filed against Black alleging securities fraud. Four more criminal charges were filed a month later, including racketeering, obstruction of justice, money laundering and wire fraud. On July 13, 2007, Black was convicted on three counts of mail fraud and one count of obstruction of justice, but acquitted of the nine other charges. On December 10, 2007, Black was sentenced to 78 months in federal prison and ordered to pay a $125,000 fine in connection with the fraud conviction. Since March 2008, he has been serving out his prison sentence at the Coleman Federal Correction Complex near Orlando, Florida. |
| Ivan F. Boesky |
Ivan Boesky at a business lecture in the early 1980s |
In November 1986, Ivan Boesky, a leading Wall Street arbitrageur, was sentenced to 3½ years in prison, agreed to pay a $100 million fine and has been barred for life from the securities industry to settle the insider trading charges. Boesky had begun making cash payoffs to Kidder Peabody investment banker Marin Siegel in 1982, in exchange for insider information on upcoming mergers and acquisitions deals. He spent two years of his sentence in jail. As part of his deal, Boesky also informed on other White Collar Rogues, including Michael Milken. |
| Bernard J. Ebbers |
Bernie Ebbers after verdict in 2005 |
In March 2005, Bernie Ebbers, former CEO of WorldCom, was found guilty on nine counts of securities fraud and conspiracy involving an accounting scheme to bolster the company's apparent profitability. According to reports, the fraud began in 2000 and was revealed in 2002 in shareholder lawsuits. The fraud, estimated to be $11 billion, ultimately lead the company to file for bankruptcy in July 2002. Ebbers was sentenced to 25 years in prison and ordered to pay $45 million in restitution in July 2005. Canadian born Ebbers is currently serving his sentence in the Oakdale Federal Correctional Institution in Louisiana. |
| Walter Forbes & E. Kirk Shelton |
Walter Forbes, former Chairman of Cendant Corp.
Kirk Shelton former V. Chair. of Cendant
|
In November 2006, after eight years and three trials, Walter Forbes, former Chairman of Cendant Corp., was convicted of conspiracy and making false statements to the SEC. In 2001, Forbes was indicted, along with Vice Chairman, E. Kirk Shelton and other executives, of bilking investors out of more than $3 billion in a massive accounting fraud considered to be the largest of the 1990s accounting scandals. Forbes claimed that he knew nothing of the fraud and blamed his Shelton and others. A number of executives pled guilty and agreed to testify against both Forbes and Shelton. Shelton was convicted in 2005 of conspiracy, mail fraud, wire fraud, securities fraud and making false statements to the SEC and sentenced to 10 years in prison. On January 17, 2007, Forbes was sentenced to 12½ years in prison and ordered to pay some $3.3 billion in fines and restitution. Forbes' sentence is currently on appeal. |
| Martin R. Frankel |
Martin Frankel in custody in 2000 |
In May 2002, Martin Frankel, the son of a County Judge in Ohio and a "financier" based in Greenwich, Connecticut, pleaded guilty to 24 counts of racketeering, conspiracy, wire fraud and securities fraud after acquiring a controlling interest in five insurance companies and skimming their reserves to the tune of some $208 million. Frankel was sentenced to 17 years in prison and shortly after incarceration, attempted an escape, but failed. When the fraud unraveled in 1999 after a fire at his mansion revealed some evidence to authorities, Frankel fled the US, but was captured in Germany with multiple passports and over 400 diamonds in his possession. German authorities expedited the extradition of Frankel to the US in 2000 to face the fraud charges. During his heyday, Frankel lived a life of luxury off the proceeds of his scams, buying a mansion in Greenwich, a private jet, expensive cars, fine wines and consorted with numerous women. It should be noted that Frankel had previously been barred for life from securities trading in a previous scam in 1989, but that did not stop him from acquiring the insurance companies he later pillaged. |
| Leona Helmsley |
A typically defiant Leona Helmsley
after her conviction for tax fraud |
In 1989, Leona Helmsley, head of the Helmsley Enterprises real estate empire, was found guilty of mail fraud and tax evasion after an investigation by the IRS revealed some $2.6 million in false business expenses. Helmsley ended up serving 18 months of a 4 year sentence in prison. She was also ordered to pay $7.1 in fines and restitution and to do 750 hours of community service. Her husband, Harry Helmsley, who was also indicted with Leona in 1988, was deemed physically and mentally unfit for trial, and ultimately passed away in January 1997. Leona, dubbed the "Queen of Mean" by the tabloid press, was infamous for her treatment of employees and vendors. During her trial it was reported that she quipped to one of her housekeepers, "We don't pay taxes. Only the little people pay taxes." Indeed, it was a contractor on their Greenwich, Connecticut mansion who blew the whistle on the Helmsley's and their questionable business practices in 1985. Until her death on August 20, 2007 at the age of 87, Leona Helmsley remained Chairman, CEO and President of Helmsley Enterprises, Inc. and was on the Forbes list of 100 richest Americans. |
| Samuel Israel III & Daniel E. Marino |
|
Samuel Israel (left) and Daniel Marino (right) after pleading guilty to fraud charges related to Bayou Group
|
On September 29, 2005, Samuel Israel III, the founder of the Bayou Group hedge fund based in Stamford, Connecticut, along with his CFO, Daniel Marino, pleaded guilty to conspiracy and fraud charges related to the spectacular collapse of the company's hedge fund. The fraud reportedly started as early as 1998, shortly after the fund was opened. It involved the overstatement of gains and the understatement of losses leading to a fraud that was estimated to be in excess of $300 million. According to reports, Marino even created a fake accounting firm to give the appearance to investors that the fund was doing well. Israel faces up to 30 years and Marino up to 50 years in prison. A third executive, James C. Marquez, who founded Bayou with Israel, pleaded guilty to fraud charges as well. In January 2008, Marino was sentenced to 20 years in prison. On April 14, 2008 Israel was also sentenced to 20 years in prison by the federal court. At his sentencing hearing, US District Court Judge Colleen McMahon said of Israel, "You were, in every meaning of the sense, a career criminal. You ruined lives. Financial fraud, white-collar crimes are every bit as heinous as every other type of crime and they will be punished severely." However, Israel did not show up for his prison sentence on June 9, 2008 and his abandoned vehicle and alleged suicide note was found. New York State Police are investigating the possible suicide although no body has been found as of this writing. |
| Charles H. Keating, Jr. |
Charles H. Keating, Jr. in Los Angeles
at arraignment 9-18-90
|
Charles H. Keating, Jr. epitomized the Savings & Loan meltdown in the US in the late 1980s. Keating's Lincoln Savings & Loan filed for bankruptcy in 1989 reportedly wiping out the life savings of thousands of elderly investors. He was twice convicted of fraud, once in state court in California and once on federal charges of fraud, racketeering and conspiracy, but both of these cases were later overturned on appeal. He served four years in jail before the cases were overturned. Several civil actions were also filed against Keating and other officers of Lincoln Savings, by groups of investors as well as the Securities and Exchange Commission and the Resolution Trust Corporation, in which multi-million dollar judgments were entered against him. Keating ultimately entered a plea agreement in the re-trial of his federal case, admitting to bankruptcy fraud for a sentence of 4 years in prison as time already served. Five high profile politicians, known as the "Keating Five" also became embroiled in the controversy for having received contributions from Keating/Lincoln Savings, including Dennis DeConcini, Alan Cranston, John Glenn, Don Riegle and John McCain. |
| L. Dennis Kozlowski and Mark H. Swartz |
Mark Swartz (left) and Dennis Kozlowski (right), former
CFO and CEO, respectively, of Tyco International Ltd.
|
In January 2005, Mark Swartz and Dennis Kozlowski, former CFO and CEO of Tyco International Ltd., respectively, were found guilty on 22 counts of grand larceny and fraud charges in the systematic looting of some $567 million from the company by selling stock at falsely inflated prices, receiving "undeserved" bonuses and obtaining huge loans that were later forgiven. Kozlowski lived extravagantly on the proceeds, including throwing an infamous $2 million birthday party for his wife on the island of Sardinia. They were sentenced to up to 25 years in prison and ordered to pay a combined $239 million in fines and restitution. Kozlowski is currently serving his sentence at the Marcy Correctional Facility in Marcy, New York. |
| Kenneth L. Lay and Jeffrey K. Skilling |
Kenneth Lay (left) and Jeffrey Skilling (right), former Chairman and CEO, respectively, of Enron Corporation
|
In May 2006, after a four and a half year government investigation, former Enron Chairman, Ken Lay and former CEO, Jeffrey Skilling, were found guilty of a series of federal counts of conspiracy, wire fraud, securities fraud and insider trading in what resulted in the spectacular bankruptcy in December 2001. The collapse of Enron had sweeping impact locally as well as on the US industry in general. Some 4,000 employees lost their jobs (mostly in and around Houston where the company was based) and employees and investors lost some $62 billion cash and equity. More than 20 other people either pled or were found guilty in matters related to the case. The Big Five accounting firm of Arthur Anderson gave up its license to practice as a CPA firm in 2002 as a result of its criminal prosecution in its apparent failure to properly audit Enron. Arthur Anderson dissolved shortly thereafter. On July 5th 2006, Lay died while awaiting sentencing. Skilling was sentenced to 24 years in prison and ordered to pay millions in restitution. He is currently serving his sentence at the Waseca Federal Correctional Institution in Minnesota. |
| Michael R. Milken |
Michael R. Milken testifying before congress |
In 1989, Drexel Burnham Lambert junk bond king, Michael Milken was indicted on 98 counts of racketeering and fraud under RICO statutes, by then US attorney, Rudy Giuliani. The charges involved various alleged securities violations. Drexel filed for bankruptcy in February 1990 following the collapse of the junk bond market and was later dissolved. Milken agreed to a plea bargain, admitting to six felonies, was banned for life from the securities industry, sentenced to 10 years in prison and ordered to pay some $900 million in fines and restitution. After only 22 months in prison, Milken was released in January 1993. Milken has attempted to rehabilitate himself by spending much of his time since his prison term heavily involved in philanthropic activities, particularly in financing various cancer research projects. |
| Barry Minkow |
Barry Minkow in the mid-1980s |
In 1987, Barry Minkow was arrested and indicted in a variation of the classic Ponzi scheme involving the Los Angeles-based carpet cleaning company he founded as a teenager, Zzzz Best. Minkow had defrauded investors by grossly inflating the value of his company and actually succeeded in taking it public in 1986. Minkow had also succeeded in bamboozling hired lawyers and accountants, as well as the media, the SEC and the FBI for a time before the house of cards fell apart. He went so far as to create fake offices and false contracts in order to perpetuate his fraud. In the end, he was sentenced to 25 years in prison and ordered to pay $26 million in restitution. Minkow actually served about 7 ½ years of his sentence. He has since attempted to rehabilitate himself by lecturing about the evils of white collar crime and becoming a Christian minister. |
| Joseph P. Nacchio |
Joseph Nacchio at sentencing |
On March 15, 2005, former Qwest Communications International Inc. Chairman & CEO, Joseph P. Nacchio, along with six other former executives, were charged by the SEC with securities fraud. The reported $3 billion fraud involved inflated stock prices which occurred between 1999 and 2002, according to the complaint. On December 20, 2005, Nacchio was indicted in Federal Court in Colorado on 42 counts of insider trading. Nacchio was convicted On April 19, 2007 on 19 of the counts. Nacchio was subsequently sentenced to six years in prison and ordered to pay $19 million in fines and forfeit $52 million from the illegal stock trades. He is currently appealing the sentence. |
| Charles Ponzi |
Charles Ponzi mug shot in or about 1920 |
Carlo "Charles" Ponzi, whose namesake will forever be associated with white collar crime, was an Italian immigrant who ultimately settled in the Boston area. In the summer of 1919, he created an investment scheme involving pre-paid postal coupons, whereby he promised investors that he could double their money in 90 days. Paying earlier investors off with later investor proceeds, Ponzi gave the impression that he could actually deliver on his "too good to be true" promise of such unheard-of returns. Ponzi, who reportedly at one time could barely afford subway fare and had wandered from city to city since he came to the US in 1903, now lived in a six bedroom manse in the upscale Boston suburb of Lexington while being chauffeured around in a luxury car. When the scheme unraveled in the summer of 1920, he owed more than $28 million to investors. Ponzi was ultimately sentenced to 5 years in prison for mail fraud by the federal government and another 7-9 years for fraud by the Commonwealth of Massachusetts. Ponzi jumped bail after serving 3½ years of the federal sentence before his Massachusetts sentence began. He surfaced in Florida under an alias with another pyramid scheme selling worthless land he had subdivided into micro parcels sold as acres. He was sentenced to 1 year in prison, but jumped bail again in 1926. He was caught trying to leave the US and was sent back to Boston to complete his sentence. Ponzi ultimately died in a Rio de Janeiro hospital charity ward. |
| Marc Rich |
Fugitive Marc Rich wanted poster circa 1983 |
International commodities trader Marc Rich was indicted in 1983 for evading some $48 million in taxes, and charged with 51 counts of tax evasion and violations of the "Trading With the Enemy Act" in his oil deals with Iran during the Iran hostage crisis. Rich fled to Switzerland before he could be prosecuted and remained a fugitive of the United States until he received a last minute pardon from President Clinton in 2001. The pardon required Rich to pay $100 million fine in order to drop the charges. Rich remains on the Forbes list as one of the richest Americans, with a net worth of an estimated $1.5 billion. |
| John J. Rigas & Timothy J. Rigas |
John Rigas, Adelphia founder, after his arrest in 2002 |
In May 2002, John Rigas, the founder of cable provider Adelphia Communications Corp., was indicted for bank fraud, wire fraud and securities fraud after the company collapsed. His two sons, Timothy Rigas and Michael Rigas, along with son-in-law Peter Venetis all company executives, and two other executives were also indicted in connection with the apparent fraud at Adelphia. Rigas, his sons and the other executives were accused of concealing some $2.3 billion in corporate liabilities, stealing some $100 million from the company and making false statements to investors. He and his son, Timothy, the former CFO of Adelphia, were convicted in July 2005. John Rigas was sentenced to 15 years in prison and Timothy was sentenced to 20 years. Both of these June 2006 sentences are currently under appeal. As a result of the criminal conviction, John Rigas was stripped of his control as majority owner of the Sabres NHL hockey franchise which filed for bankruptcy and subsequently purchased by another investor. |
| Richard M. Scrushy |
Richard M. Scrushy, not a happy camper |
In November 2003, Richard Scrushy, the founder and CEO of HealthSouth Corporation, was indicted on 85 counts of fraud, money laundering, conspiracy, and making false statements (the indictment was later reduced to 36 counts). Scrushy, who allegedly falsely inflated the value of HealthSouth by some $2.7 billion, was one of the first people to be charged under the new Sarbanes-Oxley Act. After a three week trial, Scrushy was acquitted on all 36 counts of fraud in 2005. Four months later, Scrushy was again indicted, this time in a separate case involving bribery and mail fraud charges related to payments made to former Alabama Governor Don Siegelman, who had also been indicted. They were both found guilty and have yet to be sentenced. In a separate shareholder lawsuit, Scrushy was ordered to repay $47.8 million in bonuses he received from HealthSouth as a result of the alleged fraud. |
| Samuel D. Waksal |
Sam Waksal, former CEO of ImClone |
In June 2002, Samuel D. Waksal, CEO of the biopharma company he founded, ImClone Systems, Inc., was indicted on insider trading and fraud charges after attempting to sell some 80,000 shares of the company stock prior to a negative report on its anti-cancer drug, Erbitux, which was to be issued by the FDA. Waksal also allegedly tipped off friends and relatives with insider information, including Martha Stewart, whose daughter Alexis, he had reportedly been dating for a number of years. In October 2002, he pled guilty to six charges of bank fraud, securities fraud, conspiracy to obstruct justice and perjury. In March 2003 he also pled guilty to additional charges of conspiracy and wire fraud related to sales of artwork he owned. Waksal was sentenced to 7 years and 3 months in prison and ordered to pay some $4.3 million in restitution. He is currently serving out his sentence at the Otisville Federal Correctional Institute in New York. |
| Kirk Sean Wright |
 |
On February 27th, 2006, the SEC filed a complaint against Kirk S. Wright, the then 35-year old founder and CEO of Atlanta-based hedge fund company, International Management Associates LLC, ("IMA") and seven of its funds. Wright founded IMA in 1996, ultimately, had attracted a number of high profile investors, including a number of individuals associated with the National Football League. The complaint charged that false and misleading statements were made and that some $155 million in investor funds were missing. On March 29, 2006, Wright was charged criminally with mail fraud and an arrest warrant was issued by the FBI. Wright was arrested on May 17th in Miami Beach after fleeing authorities and being on the run for 6 weeks. When he was caught, he was using a false identity, "Mark Lakean," driving a Mercedes Benz and had $28,000 in cash in his possession. A federal judge ordered that he make some $20 million in restitution and held without bail since his arrest. On May 21, 2008, Wright was convicted of all 47 counts of fraud, including mail fraud, securities fraud and money laundering. Sadly, Wright committed suicide in Union City jail in Georgia three days later. He was 37 years old. |
|
