Sometimes, even that doesn't work out so well...
Posted on 04/01/2019 6:24:20 AM PDT by libstripper
Morrie Tobin was in Boston to cut the deal of his life.
It was early April last year. A few weeks before, federal agents had descended on the multimillion-dollar home Tobin shares with his wife and some of their six children in Hancock Park, a moneyed Los Angeles enclave.
Warrant in hand, the agents searched the French chateau-style mansion for financial records and other evidence to nail Tobin, the suspected ringleader of a stock scam that defrauded investors of millions of dollars.
The raid imploded Tobin’s very comfortable life. Faced with the prospect of years in prison and a seven-figure fine, the businessman flew to Boston to meet with the federal prosecutors handling the case. He was looking for mercy.
(Excerpt) Read more at latimes.com ...
One of the really bizarre connections led to the law firm where Wendell Willkie practiced, if not founded.
No restitution to the victims of his fraud, only $4M to the government? Is that a common type of deal for securities fraud? Do class action suits typically reclaim anything of value in cases like this (minus the lawyers cut)?
Almost all the names have something in common.
How the Justice Department handles these crimes will tell us about the two tiered justice system.
The daughter he tried to get into Yale must not have been too bright. Usually when a parent or sibling(s) have attended a particular school, they look favorably at subsequent family members who apply.
The Times seems all too happy to spread the word this guy is damaged goods.
I didn’t remember them ever nailing Leftists who blew the whistle on corruption.
Of course I don’t recall the last time I saw a liberal do that either.
The use of wealth in money or influence isn’t anything new. It pretty
much abounds thru out all endeavors in some fashion or other.
Who were the “victims” here?
If fraud and misrepresentation happened then the people who bought the stock. Fools? Sure. Just like the people calling from the ‘IRS’ with ‘4 serious allegations against your name.’ The people getting fooled by it are not being very smart. They are still being defrauded by criminals though.
The actual athletes who were qualified to have entry.
The students who were qualified on their own MERIT from their own grades.
Right. Sorry for the confusion. The headline relates to the college admissions scandal, not the stock fraud case. You’re absolutely correct.
They may have been victims of an unfair process, but they were not “victims” in a legal sense that would entitle them to compensation in a court of law.
How about the fraud of people claiming to be native American in order to get in?
If he was really smart he would move to Chicago and donate some Money to that DA Kim Foxx.
The victims are the same folks who are the victims of affirmative action—you never hear about them because the MSM and the slimebag politicians refuse to talk about the true victims in college admissions scams.
The victims are the folks who would have gotten in to these schools if the admission process was based on merit.
Sometimes, even that doesn't work out so well...
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