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Financial fraud is a major crime which often comes with heavy prison sentences for those involved.
Enron, Cendant, and WorldCom are examples of massive companies torn apart by financial fraud and scandal.
Individuals - Crimes - Pastor - Planner - People
Individuals can commit these crimes as well, like a pastor and a self-proclaimed financial planner who recently defrauded 29 mostly elderly people of $3.4 million, according to an SEC complaint.
Other cases include fraudsters trying to sell the Eiffel Tower and the Brooklyn Bridge.
Fraud - Crime - Punishment - Details - Misdeeds
Financial fraud is a serious white-collar crime that comes with heavy punishment, but the details of the misdeeds can be stranger than fiction.
Case in point: The SEC recently charged Kirbyjon Caldwell, a pastor based in Houston, and self-described financial planner Greg Smith in a scheme that allegedly involved luring innocent people into investing in old Chinese bonds with no worth, with the promise...
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