10 Longest White Collar Crime Sentences

Sunday, December 15, 2013

Since the recession hit, a number of Ponzi fraud and investment fraud schemes have come to light. The perpetrators of many of these fraud schemes have been convicted, and many of them have been sentenced to many years in prison. The Wall Street Journal recently ran a list of the top 10 longest sentences for white-collar crimes.

At top place is not Madoff and his 150- year sentence as you would believe, but Sholam Weiss, who was sentenced to 835 years. He has a tentative release date of November 2754. He is currently 59 years old, and was convicted of multiple counts of racketeering, wire fraud, money laundering and other offences.

Next on the list comes Keith Pound, who was sentenced to 740 years. He died in prison in 2004 when he was 51 years old.

At third place is Norman Schmidt,who was sentenced to 300 years in prison in 2008, after being convicted of “high yield” investment fraud.

Robert Thomson was sentenced to 309 years in prison at the age of 47. He’s expected release date is 29 December 2077. He was convicted of wire fraud, mail fraud and money-laundering.

At fifth place is Bernie Madoff, possibly one of the most well-known modern day Ponzi fraud convicts. Madoff, was sentenced to 150 years in prison for Ponzi fraud, and is expected to be released on 14 November 2139.

At sixth place on the list is another modern-day fraudster Allen Stanford, who was sentenced to 110 years in prison for investment fraud.

62-year-old Will Hoover was sentenced to 100 years in prison, and is expected to be released in 2049.

Richard Harkless was also sentenced to 100 years in prison.

The only female on the list, Karen Bowie was sentenced to 80 years in prison for white-collar crimes.

The rest of the white-collar convicts on the list include Frederick Brandau (55 years), Scott Rothstein, (50 years), Thomas Petters (50 years), James Koenig (44 years), and Martin Sigillito (40 years).