Let me frighten you next

Bernard Madoff is estimated to have lost investors around $18 billion in a $64.8 billion Ponzi Scheme. He operated a hedge fund and was sentenced to 150 years in prison. He must have been a very good salesman, as a lot of investment professionals were taken in and have probably been trying to distance themselves ever since. You can read about him in Wikipedia.
But you cannot read about a chap named Roger Levitt unless you look up “Frederick Forsyth fraud” on your browser – he’s not mentioned on Mr Forsyth’s Wikipedia entry, but it is clear that the author was a victim of a large fraud from his own newspaper articles. According to the British press, other victims included Sebastian Coe, Adam Faith, and Lennox Lewis. As this was a smaller fraud by a small investment advisory business, I guess that a lot of small investors lost their life savings and were unable to recoup like Mr Forsyth who published several novels after losing most of his money. The U.K. authorities were unable to persuade Mr Levitt to plead guilty, except to one or two small offences, as apparently some sort of deal was proposed in a Court lavatory. So Mr Levitt was not even locked up – he received a sentence of 180 hours Community Service !

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.