February 27, 1986 |
Raymond Lazinski was antsy. Forty-five days had passed, and he was still waiting for $2,000 owed to his small engineering and electronics firm in Glenside. Everything about the sale had appeared routine at first. Lazinski had checked credit references and had agreed to sell a personal home computer system to a man named William Wilson. Lazinski, president of Wyncote Instrumentation Co. Inc., said that he had installed the system at Wilson's office and that Wilson had promised to pay the bill within 45 days.
April 24, 1989 |
Last week Washington put the finishing details on a plan to rescue America's battered savings and loan structure, at a cost to the taxpayers that will exceed $100 billion. By some estimates, most of that cost stems from unethical or flatly illegal behavior on the part of S&L executives all across the country. At roughly the same time, in New York City, a 28-year-old female investment banker was found near death in Central Park. A "wolf pack" of six thugs, between the ages of 13 and 17, had set upon her while she was jogging, and brutally raped and beat her. We know two things about these two stories: In a "cosmic" sense, the story of the S&Ls is much more important, much more consequential and will cause much more suffering - in the form of lost savings, higher costs and a weakening of America's underlying financial health.
July 9, 2002 |
One can hardly watch the nightly news or pick up a newspaper without reading new allegations of financial fraud. News outlets are littered with story after story, detailing investment scams that result in lost pension funds. Millions of Americans are left wondering who will protect their life savings, and how CEOs and CFOs can raid pensions and not be held criminally accountable. Yet, historically, we have always held white-collar criminals to a different, lower standard. With most crimes, we pass laws that serve to deter criminal behavior, to forewarn potential wrongdoers that we will not abide assaults on individuals or society.
December 7, 1986
In response to the Nov. 23 Inquirer Magazine article "How the FBI nailed Billy Pflaumer," it seems to me that the FBI made a trade: one murderer, Frank Jock, for Billy Pflaumer, who committed a white-collar crime. It seems to me, a long-time employee of one of Mr. Pflaumer's businesses, that the FBI and Ron Cole, the prosecuter, had a personal dislike for Mr. Pflaumer and that they went to the extreme to satisfy their ego. Bernice Lewis Philadelphia.
April 15, 2004 |
With strongly worded commentary but no explanation, a Chester County Court judge yesterday reduced the sentence he gave last month to a "calculating con artist" who swindled 23 victims out of almost $2 million. Instead of 10 to 20 years in prison, Frank Thomas Fiascki, 48, of East Goshen Township, will serve eight to 16 years, according to an order signed by Chester County Court President Judge Howard F. Riley Jr. The change came in response to a routine motion for reconsideration filed on March 19 by Assistant Public Defender Joseph W. Dobson, Fiascki's attorney.
July 17, 1986
In an era when the Pentagon shovels out millions for things like $600 toilet seats, U.S. Attorney Edward S.G. Dennis Jr. knows how to put a stop to it. On Tuesday he nailed another outfit specializing in grand theft from taxpayers via the Pentagon - a subsidiary of Litton Industries Inc. called Clifton Precision, Special Devices Division, operating out of Springfield, Delaware County. Mr. Dennis announced that Litton had pleaded guilty to all charges on a 321-count indictment spelling out how its Clifton Precision employees systematically stole $6.3 million between 1975 and 1984 by routinely inflating cost estimates on products it sold the Pentagon.
November 24, 2012
Albert Kleiner, 51, a Philadelphia native who became a prosecutor in Arizona, died Sunday, Nov. 4, of melanoma at a hospice in Tucson. For the last nine years, Mr. Kleiner was an assistant attorney general in the Tucson office of the U.S. Justice Department, where he focused on white-collar crime. "Because he was principled and a person of integrity, he was constantly looking for an occupation where he could make a difference," said his brother, Michael. "He was adept at whatever he tried.
September 26, 2006 |
AKEY TO distinguishing the severity of a crime is knowing how "high" the criminal was at the time. If the offense was committed by someone high up the corporate ladder, or if the crime scene is a corporate boardroom on a high floor of a skyscraper, you've got your more socially acceptable so-called "white-collar crime. " Nasty street criminals don't sport white collars. Nice men and women breaking the law from executive suites and boardrooms usually wear business suits. And their crimes are "carried out," never "committed.
January 13, 1994 |
Charles J. Taggart, 68, of Clifton Heights, a former Philadelphia policeman and federal investigator known for his skill in fighting white-collar crime and for his "big heart," died Sunday at Lankenau Hospital. "He was like a leader in the office, teaching new agents and giving them the training they needed to investigate white-collar crime," said George Hallett, regional inspector general with the General Services Administration. "He was respected throughout the country because of his knowledge of white-collar crime.
September 1, 1989
This is an odd time to be weakening a law that lets victims of white-collar crime fight for compensation. After all, fraud was a large factor in the self- destruction of hundreds of savings and loans, leading to the biggest bailout in U.S. history. Prosecutors are alleging corruption in Chicago's commodity markets on a scale rivaling the illegalities on Wall Street. These scandals buttress the Justice Department's 1986 estimate that white-collar crime costs Americans at least $200 billion a year.