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A Tale of Barry Minkow’s Right to Redemption (or Lack Thereof)

Posted on by Adrienne Gonzalez

You may have read that dedicated criminal Barry Minkow has once again been sentenced to prison, this time for ripping off a church to the tune of $3 million. A CHURCH. $3 MILLION. If that isn't the sign of large, brass cojones given his criminal past, I'm not sure what is.

But you see, some people believe in redemption. In particular, attorneys of the accused tend to believe in redemption more than others:

Attorney Mark Adams had argued Minkow worked to redeem himself by obtaining a doctorate degree in prison and enrolling in a drug and alcohol rehab program.

Adams also told the judge that Minkow has been a "tremendous help" to other inmates and has "lots of community support" to help him avoid future crimes and other problems when he gets out of prison.

Prosecutor Mark Pletcher said that Minkow only admitted wrongdoing because he hoped it would get him a shorter prison term.

You'll recall this is a guy who was sentenced to 25 years in prison back in 1988. He was released in 1995.

A former San Diego cop has the right idea here:

No doubt the church would still have its money, but Minkow wasn't given a life sentence the first time around. Someone would have been ripped off at some point so sure, maybe it wouldn't have been this church at this time, but clearly Minkow just can't resist his criminal ways.

Tracy Coenen — who worked with Minkow's Fraud Discovery Institute as a consultant on fraud investigations — had this to say about Minkow's chronic assholery:

"Barry always said that by the grace of God people can change. Unfortunately, he is a sociopath who will never be rehabilitated. When he gets out of prison he will continue to victimize unsuspecting people."

A 2010 profile of the Fraud Discovery Institute in the Milwaukee Journal Sentinel quotes Barry as believing his questionable but apparently not illegal intent of the institute was met with understandable skepticism:

"I think people look at this and say, 'Wow, your past is your past,' " said Minkow. "You were in bed with the mob.  . . . You were in jail, you came out, you redeemed yourself, you uncover fraud."

Yeah, so much for redemption. As one LA Times commenter said: "Note to all restaurants: Don't hire Jeffrey Dahmer as a chef."

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Judge, Possibly Fearing a TP’d House, Denies Bail for Madoff CFO

Thumbnail image for TP.jpgPoor Frank DiPascali. The man’s name will be forever connected to largest Ponzi schemer (with, allegedly, the smallest penis) in history and he feels terrible about that.
Looks like DiPascali, who was a “CFO” in Ponzi World but in reality was probably just the best liar, will remain eating his meals with a spork until the end of his days.
His attorneys were trying bust the guy out so he can help investigators find a new Madoff cohort to put front and center but a judge denied bail yesterday despite a boatload of conditions:

Mr. DiPascali’s failed bail attempt came despite a new proposal presented by defense lawyers and prosecutors that included a $10 million bond, co-signed by nine people, including members of the DiPascali family, and the pledge of about $2 million in personal property. The new proposal required Mr. DiPascali to wear an electronic device that would plot his location by satellite. It also barred him from leaving home without an escort from the Federal Bureau of Investigation, except in a medical emergency.

Maybe the judge isn’t big on satellite technology but with Halloween on Saturday, it could have been a decision made on a more personal level. Those Madoff victims are a touchy bunch.
Court Denies Madoff Aide’s Request for Bail [NYT]

Sue Sachdeva’s Defense Team Provides Hysterical Argument for a Lighter Prison Sentence

Koss embezzlement mastermind Sue Sachdeva will receive her prison sentence tomorrow for ripping the headphone cobbler off to the tune of $34 million. Yesterday, the government’s sentencing memorandum (full document after the jump) was released and the prosecution and defense each made their arguments for a heavier/lighter prison sentence.

Naturally, the prosecution is seeking the maximum sentence, as is Koss CEO Michael Koss, who wrote a letter to the court with his thoughts:

“She stole from the hardworking employees of the company and their families, and ultimately the stockholders of the company,” Koss wrote. “They are the true victims of her crimes.”

Yes! The shareholders! Including the Koss family members who 67% owned of the stock ! Especially the ones who held five executive positions at once!

But never mind that for two. Tracy Coenen breaks down the defense’s argument for S-squared to receive a lighter sentence and it’s a hoot:

They argued that Sue Sachdeva should get a lighter sentence because:

a. she’s been a law-abiding citizen until now

b. the fraud was “simple”

c. and poor, poor Sue has a “compulsive shopping disorder”

Jump over to Tracy’s post for more analysis but our take on these three reasons are as follows:

A. “Until now,” as in “right up to the moment she pleaded guilty”? If so, that sorta ignores a scam that went on for over a decade.

B. Again, so simple that it went on for over ten years? You’re really making the Koss management look like a bunch of idiots…Wait, maybe they’re on to something here.

C. Please. Show us someone who wasn’t addicted to shopping in the 90s and 00s.

Sentencing Memo