To The Editor:
White collar crime, a term coined around 1939 are crimes with a wide range of criminal activities such as deceit, concealment, and trust.
These crimes are motivated by financial gain and they do not affect just one victim. They can destroy companies, devastate families, and topple governments.
Crimes include pyramid schemes. Those already convicted of pyramid schemes include Bernie Madoff, Ben Sisti, and John Google. The extent of harm caused by these crimes is enormous. They are a demoralizing caner upon our society. The Madoff case cost victims over 18 Billion dollars.
Here in Connecticut Sisti and Google ran a Ponzi real estate empire that defrauded over 600 people. This Colonial Reality Scandal brought Sisti and Google personal wealth at the expense of most of their investors.
They ruined banks, businesses, and many individual retirement accounts. It took years for the state’s economy to recover. These are just a few examples of white collar crimes. They represent the huge impact that white collar crimes can inflict upon society.
That is why I strongly disagree wit Judge Ellis and his lenient 47 month sentence that he imposed upon Paul Manafort.
We must recognize that white collar crimes are insidious and must be punished to their full extent.