14 Years is a Good Start
- A former investment CEO was sentenced Friday to 14 years in prison and ordered to pay $665 million in funds lost to his former clients.
“I may be incompetent, but I’m not a thief,” Eric Bloom, 50, said as sentence was handed down.
[...] The former Sentinel Management executive said he may have been negligent in picking his portfolio manager but added he wanted to spend more time with his family. Bloom’s wife and children sat with emotion.
U.S. District Court Judge Ronald Guzman said Bloom had “perpetrated a horrific fraud.”
“You still fail to grasp what you’ve done wrong,” he told him.
So, how much do Daley, Quinn, Madigan and the rest get for $80 billion in misappropriated funds?
Labels: pension
posted by SCC at 12:31 AM
22 Comments:
Former Senator and loyal Democrat Jon Corzine stole about three times that much client money at MF Global as he bankrupted it.
He has not even been indicted.
You can't put politicians in prison for honest mistakes they may have made, or those under them made.
Have any of the loyal Democrats on the Detroit Pension Board been arrested? The gave away Billions of Dollars in Detroit Pension funds to cronies and in overpayments.
665 million .
His island should have been protected by ex special forces guys with the best weapon systems money can buy .
How did they get him ?
So, how much do Daley, Quinn, Madigan and the rest get for $80 billion in misappropriated funds?
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Don't be stupid. They are responsible for NOTHING. If the people that run social security were examined, the fraud and mismanagement there would make MCI look like small potatoes. The fraud in Illinois is just as bad and no one is responsible because it's politicians doing the fraud with their appointed minions. If it were a private enterprise, prison terms wold be in order. Hey dopes, just keep electing the crooks and you get what you deserve.
14 years, same as the drug traffiking Flores twins. But they snitched and got lucky. You should have snitched too.
Great sentence. Let's see more of this in the financial area.
Go after Daley's nephew too. He lost a huge amount of our pension money.
I'll do 14 years in prison for $665 million. Any day.
...I’m not a thief - I might just smell a little like one.
E. Bloom.
Our very own Bernard Madoff...
The "stupid" defense worked with Hillary Clinton (i.e. "I didn't know that when I pushed THAT button on the computer, all of the personnel files on registered Republican staffers would come up." and "I didn't realize that making a killing in the commodities market was nearly impossible without some outside 'help') and for Tim Geithner ("I didn't know how to use Turbo Tax and didn't call the Help Line, so my taxes just didn't get paid for 5 years") so why shouldn't it work for this guy? Give him a break - he just didn't know how to invest all of that money and POOF! it suddenly went into offshore bank accounts. It happens - technology gets the best of everyone!
daley and vanecko (you know that guy who killed an innocent kid above the law punk) they took over 60 MILLION of "our pension dollars" squandered it and no charges at all,Scott free! The pension monies is being handled by who? no government officials going after the thief's?
08:57 - They did try and go after Daley's nephew in 2009 and it went nowhere even though his firm lost a third of our pension money invested almost immediately! On top of that they were getting paid HUGE chunks of change to manage the money they were given to invest. And if I'm not mistaken, they invested some of that money in properties owned by that restaurant guy O'Mally. You know, the guy that knocked up the women on the board that gave him the very sweet city deal on his Millenium Park restaurant. The one the city is now suing him for because the city wants out of the lease! Daley said he knew nothing about the lease negotiations yet he was a regular guest at O'Mally's firehouse restaurant which was a block away from his South Loop Townhouse. The tangled web we weave . . .
Anonymous Anonymous said...
I'll do 14 years in prison for $665 million. Any day.
1/31/2015 09:04:00 AM
Not me. There isn't enough money in the world for me to exchange for my freedom.
Prorate that 665 million
I would do one year for 47.5
Bring in the Clowns. Get those guys indicted. Someone has to pay--they were the Leaders, the head of all of the city and state money fraud---Daley and Madigan. Lets get them to talk.
Eighty Billion Dollars (80 billion) of misappropriated money. So, are they gonna give it back..Daley, Quinn, Madigan?
.....Not like the late Coleman Young-Kwame Kilpatrick clones who want to have clout here......
Not me. There isn't enough money in the world for me to exchange for my freedom.
1/31/2015 12:21:00 PM
He aint going to cook or state. Hes going to a cushy white collar prison thats almost like day camp for kids.
daley and vanecko (you know that guy who killed an innocent kid above the law punk) they took over 60 MILLION of "our pension dollars" squandered it and no charges at all,Scott free! The pension monies is being handled by who? no government officials going after the thief's?
Ummm....wrong Vanecko, but it was a nice try. Richard Vanecko was the guy in the Kotchman incident. Robert Vanecko, along with his business partner, Allison Davis (FYI, Allison Davis is a guy), were the ones who squandered our pension money. Allison Davis was also business partners with convicted felon Tony Rezko, whom had ties to Obama. One giant, incestuous, corrupt, democRATic world.
I bet he will have a lot of money in his prison commissary account.
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