9 Bad Boys (+ One Bad Girl) of Business: The Class of 2012
Filed under: Buyer Beware, Weird & Wonderful
By Christopher WitrakMinyanville
US attorneys' offices had a record-setting year collecting money for damages from civil and criminal cases in 2012, taking in a total $13.1 billion in criminal and civil actions, according to a recently released report. Last year the offices confiscated $6.5 billion, not even half as much.
The US Attorney's Office for the Southern District of New York, which covers Manhattan, alone reported a haul of $2.98 billion in forfeitures, the largest amount since the Department of Justice Assets Forfeiture Fund launched in 1984. Plus, the office acquired $526.7 million from civil actions and $76.8 million in restitution, fines, and special assessments. (A large portion of this massive amount came from the settlements related to the Bernie Madoff Ponzi scheme.)
It should come as no surprise that the district containing Wall Street saw the largest catch. Since the financial crash in 2007, US attorneys from southern New York have handled some of the largest asset forfeitures ever, and have prosecuted a high volume of white-collar crimes in the world's financial capital. (View the US Department of Justice's statistics here.)
Below are a list of other high-profile pathological liars, kleptomaniacs, narcissists, bad businessmen and women, and swindlers from the financial industry and other sectors who made headlines in 2012.
RSS Feed
Contact Us
