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Features/Scandals

Wall Street’s 12 Most Salacious Scandals

November 23, 2016

[Photo: Bernie Madoff,  CNN Money, Dept of Justice]

 

Here's what landed the real Wolves of Wall Street behind bars, according to Vanity Fair.

 

MARTHA STEWART   -   The domestic doyenne, known primarily for teaching a whole class of homemakers the virtues of a perfectly-timed soufflé or a perfectly-folded sheet, imperfectly found herself in the Big House for five months in 2004, after she was convicted for conspiracy and obstruction of justice related to selling shares of drugmaker ImClone Systems.

 

MARTIN SHKRELI   -   The so-called “pharma-bro” created a national media frenzy when he hiked the price of a lifesaving drug by 5,000 percent overnight in 2015, and continued to fan the flames by buying a $2 million single-copy Wu-Tang Clan album and picking fights with presidential candidates. In the midst of the firestorm, he also got arrested and charged with 8 counts of fraud after prosecutors accusing him of using a public drug company he ran as a personal piggybank to pay back investors whose money he lost at his now-defunct hedge funds.

 

BERNIE MADOFF   -   The name Bernie Madoff has become synonymous with reprehensible greed after the Wall Street fraudster was caught stealing his victims’ fortunes to live like a king. Madoff was sentenced to 150 years in prison—the maximum for his crimes—after pleading guilty to 11 counts of myriad financial crimes related to a Ponzi scheme that swallowed up $10 billion of investors’ money.

 

Click link below for the rest:

 

ALLEN STANFORD

STEVE COHEN

RAJ RAJARATNAM

MICHAEL MILKEN

JEFFREY SKILLING

R. FOSTER WINANS

MATHEW MARTOMA

SAGE KELLY

BRUNO IKSIL