White collar crimes aren’t violent but they aren’t harmless either or committing them wouldn’t be a crime. They can cause society a huge loss financially. Therefore, if you or someone you know is accused of a white-collar crime, you should take help of an excellent lawyer or attorney, and they can help you reduce your jail terms and fines or even help you go completely free. Elliott Sauter website can help you with this as well.
Let’s take a look at some of the most powerful white-collar criminals:
- Shalom Weiss: Mr Weiss absconded with enough money with a partner called Mr Pound from National Heritage Life Insurance Company. Mr Weiss ran off and was also absent while his trial was going on. He made it to the FBI’s most wanted list. He was searched and chased in three continents. Finally, he was caught in He lived there under the name of Charles Dick. After he was extradited to the US, he pleads to the court to let him live in Austria, which the court rejected. He was imprisoned for 845 years.
- Keith Pound: He was a partner of Mr Weiss in the case of National Heritage Life Insurance, where they skimmed $450 million. Mr Pound was a mortgage broker from Illinois. He was imprisoned for 740 years by the court, but he died just serving four years of jail term at the age of 51.
- Norman Schmidt: Mr Schmidt promised his investors a return of 2 percent to 400 percent every month. Mr Schmidt and his fellow conspirators also set up corporations like Reserve Foundation Trust and Capital Holdings to further fraud their investors. In total, the investors lost around $40 million. The fact is that the money was never invested and was spent on the lavish lifestyle of Mr Schmidt including the purchase of Redstone Castle in Colorado. He also bought eight NASCAR race cars. Attorney Troy Eid said on that trial that if anyone promises to double your money overnight, you shouldn’t believe that person. He was sentenced to 330 years imprisoned. Schmidt died at the age of 78 in prison.
- Robert Thompson: Robert Thompson is so talented that he couldn’t be even put into prison with other inmates. There are only two units in the USA where a prisoner can be housed, and he is serving on one of them. If he is kept in regular prisons, he can manipulate other prisoners in committing crimes with the outside world. He used to run his fraud ring from inside the prison, where with his co-conspirators obtained $20 million in deposits from others bank-accounts. He Is serving 309 years.
- Bernard L. Madoff: Bernard Madoff used to run most significant financial fraud in the history. He is said to have stolen $65 billion, but the borrowed amount was $20 billion. The investors told him that they had a return of $65 billion in total. Judge Denny Chin imprisoned him for 150 years, the maximum sentence allowed.