White Collar Crimes Bail Costs More Because The Offenses Are Much More Serious
Even celebrities have committed white collar crimes, where they wanted to keep their millions of dollars, earn more, or not pay their taxes. Here are some of the most well-known cases of celebrity white collar crimes:
Charles Ponzi
The man who had the enacted the biggest white collar crime in modern history and had the term “Ponzi Scheme” coined after him: Charles Ponzi. In the 1920s, Ponzi would pay back his investors using his other investor’s money, keeping the profit for himself. He was arrested for fraud, served 14 years in prison, and died in poverty.
Martha Stewart
A shock in 2003, America’s Stepford Wife was arrested for tax evasion! In 2001, she got a tip her stock was going to drop and pulled all of her shares out, avoiding a $45,000 loss. In 2003, she was exposed for her insider trading and indicted on nine counts, including securities fraud and obstruction of justice. She only spent 5 months in jail and got a fine of $30,000, less than what her stock loss would’ve been.
Teresa and Joe Giudice
The most recent scandal, in 2013, the ‘Real Housewives of New Jersey’ stars were both sentenced to prison for tax evasion for failure to file tax returns from 2004 to 2008. In 2014, both pled guilty, with Teresa being sentenced to 15 months in prison and Joe to 41 months in prison. Teresa was released from prison in 2015 and Joe reported to prison in March 2016.
Mike ‘The Situation’ Sorrentino
While currently ongoing trial for alleged tax evasion, Sorrentino is having his trial drama play out on the current season of ‘Jersey Shore: Family Vacation.’ He was accused of failing to pay $9 million in taxes from earnings made in 2010 to 2012. Pleading guilty to felony tax evasion in January 2018, he will face sentencing in September 2018 and faces up to five years in prison with a maximum $250,000 fine.
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