by: the Common Constitutionalist
History is replete with flimflam men, and women. America has had its fair share. The most famous must be Carlo Pietro Giovanni Guglielmo Tebaldo Ponzi, better known as Charles Ponzi.
More recently names like Bernie Madoff and Robert Allen Stanford have become the modern day face of the scam. Madoff ripped off investors to the tune of $65 billion in what many have described as the largest financial fraud in U.S. history. For this he was sentenced to 150 years in the slammer.
Stanford ripped off over 28,000 investors for about $7 billion and was sentenced to 110 years behind bars.
Of Madoff and Stanford, Robert Lenzner at Forbes.com wrote that “Clearly, the SEC should have had the smarts and the will to put Madoff and Stanford out of business before they were able to do so much harm.”