Enclosed is a list of what Communal News considers the recent largest white collar ripoffs starting from around the year 2000.
1. Bernard Madoff – Bernard L. Madoff Investments – NASDAQ’s chairman in 1990, 1991 and 1993. – US Largest fraud over $50 billion dollar Ponzi scheme.
2. Kenneth Lay – Enron – Co-chairman of Bush’s 1992 re-election committee. – Went from running America’s most admired company to guilty of fraud.
3. Allen Stanford – Stanford Financial Group – Knighted with the title “Sir Allen.” – 2nd-largest Ponzi scheme in U.S. history.
4. Bernard Ebbers – WorldCom – “Telecom Cowboy” – Nation’s largest accounting fraud.
5. Jon Corzine – MF Global – Elected Senator & Governor of New Jersey; Member of the Senate Banking Committee. – Bankrupting MF Global two years after losing his New Jersey Governorship.
6. Dick Fuld – Lehman Brothers – Paid almost half a billion dollars in total compensation. –“The Gorilla” Fuld, the man who changed finance forever.
7. Henry Silverman – Cendant – Became Vice Chairman of Asset Management Guggenheim Partners –Merger Made in Hell, The decade’s dumbest deal.
8. Elizabeth Holmes – Theranos – Theranos board included Henry Kissinger, William Perry, George Shultz, Sam Nunn Bill Frist, Gary Roughead, James Mattis, Dick Kovacevich and Riley Bechtel. – The Next Female Steve Jobs that the SEC charges with ‘massive fraud’.
9. Richard M. Scrushy – HealthSouth – Linked to star athletes Bo Jackson, Roger Clemens, Jack Nicklaus, Kyle Petty, Michael Jordan, Shaquille O’Neal, and Lúcio Carlos Cajueiro Souza. – Overstating earnings by at least $1.4 billion over four years.
10. Joseph P. Nacchio – Qwest Communications – Served on two federal advisory panels: the Network Reliability and Interoperability Council and the National Security Telecommunications Advisory Committee. – Extensive fraud, claiming double-digit profit gains when demand sharply lagged.
11. Phillip Frost – Pharma – Board of regents of the Smithsonian Institution – “Change of prolific South Florida-based microcap fraudsters”.
12. Marissa Mayer – Yahoo – Boards of director of Walmart –A Case Study In Poor Leadership & Excessive Compensation.
13. Dennis Kozlowski – Tyco – Known for $6,000 shower curtains and $15,000 dog umbrella stand. – Convicted of misappropriating over $400 million of Tyco’s funds for personal use.