Sam E. Antar, the convicted felon and former CEO of Crazy Eddie, puts forth the theory that the bad economy is accusing white collar crimes to float to the surface: Is there really more white collar crime today? No.
The Madoff scheme is an example of a scheme that fell apart whent he markets went south. A combination of decreased asset value (at least the few that he actually had) and increased redemptions due to the declining markets prevented him from being able to cover up the scheme.
Mr. Antar draws the parallel to the NYPD pulling more bodies out of the water during the spring months than other months. The warmer spring water just makes them float. The bodies sink in the colder winter months.
The current crash in economic markets is going to cause more bodies to float.
One thought on “Is There More White Collar Crime Today?”