English: Mug shot of Allen Stanford. (Photo credit: Wikipedia)
Stanford Financial Chief Investment Officer Gets 3 Years in Prison (Bloomberg) - Talk about the deal of the century for prison time, Laura Pendergest Holt (39) was scheduled to begin defending herself at trial about this time but instead took a plea deal to avoid the same fate of her boss Allen Stanford (serving 110 years in prison). Prosecutors had settled on a take-it-or-leave-it deal for U.S. District Judge David Hittner of 36 months for Holt on the charge of obstructing justice (nothing associated with the Ponzi scheme itself). Even though Hittner agreed to accept the plea and the sentence, he had received a number of letters from victims telling him to reject the deal in an effort to get her more prison time. Holt was not allowed to self-report to prison and was taken into custody. She leaves behind a husband to care for her 16 month old daughter.
Do Ethics Courses Fall Short In Business Schools (Daily Herald) - Perhaps it is a call for business schools to look at doing something different. With large white-collar cases involving graduates of Harvard, Wharton (Penn), Southern Cal and more .... it may be time for a change in the way ethics is taught. Perhaps the answer is that there is a little ethical fading in all of us that we need to be aware of in order to fend off that temptation that is surely coming our way.
10 More Arrested in Long Island Rail Road Disability Fraud (NY Times) - I think this is a fascinating case of usually hard-working people who found an easy way out by claiming they were unable to work ... a kind of self-retirement because "I deserve it!" Ten more people from the LIRR were arrested on Tuesday, bringing to total to 32 being charged for getting a doctor to say they could not work and collected benefits. Perhaps this is a wake up call to the many who cheat on workers compensation claims .... but I doubt it.
CA Woman Steals $550k From Employer Only To Be Scammed Herself (Acorn) - A once loyal employee of Advantek (promotional marketing company) based in California, was caught taking $550k by passing 170 checks to herself over a year's period. When busted, she told why she needed the money ... to bail out her on-line boyfriend from Spain who was said to be held in U.S. Immigration. It turned out, that the boyfriend was a scammer himself who was part of a Nigerian criminal enterprise.
Federal Inmate's Family Gets Settlement For Missed Diagnosis of Cancer (Press & Guide) - The federal prison system does have healthcare for inmates, but here's a story of pure neglect. Timothy Bell was sentenced to a 30 month prison term for a non-violent drug charge. For 18 month, he complained to prison doctors and adminstrators of discomfort he was feeling near the pits of his arms. Finally, after several attempts to get some medical attention, he was transferred to a medical prison where he was diagnosed with stage 4 non-Hodgkin's lymphoma. Bell was released from prison on November 10, 2009, a year later he died at the age of 39. Yesterday, the federal government agreed to pay his family nearly a million dollars as a settlement. So much for government healthcare.