Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
What happened to my college mate?
Old 02-04-2011, 03:12 PM   #1
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Rocky Inlets
Posts: 24,429
What happened to my college mate?

I just read that a college classmate from Costa Rica was arrested in JFK and charged with fraud ($600M). He's now in jail and who knows if he will ever leave.

He was the nicest guy in the school, had an excellent study and work ethic - and we were close friends then and for a number of years after.

I'm speechless.
__________________

__________________
MichaelB is online now   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-04-2011, 03:23 PM   #2
Recycles dryer sheets
Nova's Avatar
 
Join Date: Apr 2010
Posts: 270
Quote:
Originally Posted by MichaelB View Post
I just read that a college classmate from Costa Rica was arrested in JFK and charged with fraud ($600M). He's now in jail and who knows if he will ever leave.

He was the nicest guy in the school, had an excellent study and work ethic - and we were close friends then and for a number of years after.

I'm speechless.

Sorry to hear about your friend. Who knows why some people do things you would never dream they would do.
__________________

__________________
Nova is offline   Reply With Quote
Old 02-04-2011, 03:23 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2004
Posts: 11,615
Where'd you hide the money?

Seriously--I don't know how people get on the wrong track. Sometimes it's astounding.
__________________
"Freedom begins when you tell Mrs. Grundy to go fly a kite." - R. Heinlein
samclem is offline   Reply With Quote
Old 02-04-2011, 04:01 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
harley's Avatar
 
Join Date: May 2008
Location: Following the nice weather
Posts: 6,422
$670 million. That would be awfully tempting if you were greedy.

I googled the story after reading your post to see if your friend might have gotten caught up in something, but assuming he's the guy I read about, he was the head fraudster. Very strange. I guess people change over 40 years.
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Will Rogers, or maybe Sam Clemens
DW and I - FIREd at 50 (7/06), living off assets
harley is online now   Reply With Quote
Old 02-04-2011, 04:56 PM   #5
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Rocky Inlets
Posts: 24,429
Nova - thanks. Sam, er, if I had a small percentage of that money I wouldn't be here...

That's the one, Harley.

This news was shocking, and I'm not sure why. Over 3 decades in business in Latin America I've seen quite a bit of bad behaviour and it has never affected me like this. Mostly at work - lying and cheating for sex or petty finances (sales commissions, bonuses, expenses). Some bigger stuff as well, and a fair amount of corruption (mostly public sector). But this is different. Not just the magnitude. He never tried to game the system or cheat people when I knew him (or he was masterful at hiding that part of himself). Also, as Harley points out, because he was the apparent mastermind. A couple of hours browsing last night showed this has been going on for a long while and he has already had problems in some states. He should have seen it coming. I suspect there may be a more ominous aspect to this.

I feel badly for his family.
__________________
MichaelB is online now   Reply With Quote
Old 02-04-2011, 05:35 PM   #6
Thinks s/he gets paid by the post
 
Join Date: Mar 2007
Posts: 3,323
I doubt if anything happened to your old college mate. I'm guessing this was just a part of his personality that nobody saw and he didn't disclose.
He justifies his behavior in his mind because he's good to his mother, takes care of his wife and kids, is good to little animals, pays his taxes, whatever.
It is just a part of his personality, but the flip-side of what everyone around him saw is what blows people away.
__________________
Please consider adopting a rescue animal. So very many need a furr-ever home and someone to love them! And if we all spay/neuter our pets there won't be an overpopulation to put to death.
Orchidflower is offline   Reply With Quote
Old 02-04-2011, 05:38 PM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
bbbamI's Avatar
 
Join Date: Dec 2006
Location: Dallas 'burb
Posts: 9,039
I'm sorry Michael....he let everyone down that cared for him and since you were such a good friend I understand why it hurts.
__________________
There's no need to complicate, our time is short..
bbbamI is offline   Reply With Quote
Old 02-04-2011, 05:56 PM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
clifp's Avatar
 
Join Date: Oct 2006
Posts: 7,450
I am sorry to hear about your friend Michael. I probably have somewhat unhealthy obsession about money, but I can understand trying to steal a huge $>10 million amount of money. That amount of money is really life changing. What I don't understand if middle class folks who steal small amount <$1,000. I guess it is easier for me to understand risking 20 years in jail for $670 million, than a slightly shorter jail sentence for a thousand or two.
__________________
clifp is offline   Reply With Quote
Old 02-04-2011, 08:41 PM   #9
Recycles dryer sheets
 
Join Date: May 2005
Posts: 438
'What I don't understand if middle class folks who steal small amount <$1,000'

I always think that when I read about someone embezzling a farly small amount that costs them a job paying much more.

Or as my mom said about a high school student who stole a 10 yr old Ford Pinto - if you're risking going to jail for stealing a car, at least steal a car.
__________________
rmark is offline   Reply With Quote
Old 02-04-2011, 11:54 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
clifp's Avatar
 
Join Date: Oct 2006
Posts: 7,450
Quote:
Originally Posted by rmark View Post
'
Or as my mom said about a high school student who stole a 10 yr old Ford Pinto - if you're risking going to jail for stealing a car, at least steal a car.
I think I'd like your mom.
__________________
clifp is offline   Reply With Quote
Old 02-05-2011, 03:39 AM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,263
To answer the question you posed....

He got caught...
__________________

__________________
Texas Proud is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Yerba Mate - Anyone here a fan? thefed Other topics 5 11-04-2010 11:02 PM
College Financial Scholarships For Later College Years yakers Other topics 1 05-18-2009 01:24 PM
Do You Think This Really Happened? tangomonster Other topics 46 11-22-2008 10:23 PM
Whatever happened to...? honobob Other topics 14 07-28-2008 03:22 AM
What ever happened to ......? Rosalita Other topics 5 02-01-2006 08:58 AM

 

 
All times are GMT -6. The time now is 11:02 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.