"There is only one crime among Vampires; Kill your Own Kind." - Stephen Rea, Interview with the Vampire (1994)Eric Bloom, the former head of the Northbrook, Illinois based Hedge Fund Sentinel Management Group, was sentenced last week for convictions on18 counts of wire fraud and 1 count of investment adviser fraud.
During the 2007 Republican Recession, Bloom's thievery cause Sentinel to implode and go bankrupt in a Billion Dollar vanishing of investors assets. But, as far back as 2003 Bloom began secretly using his clients funds to make high-risk investments and as collateral for multi-million dollars loans for his, his fathers' and his associates benefit.
Bloom was sentenced to 14 years for defrauding his clients of at least $665 Million. Bloom has been free on bond since the trial began last year has until April 30th to turn himself in. Bloom begged for leniency and declared, "I am not a thief". He reportedly also wrote a letter expressing his fear about his prison sentence and its' effect on his wife and daughter.
Charles Mosley, the head trader for Sentinel and a long-time friend of Bloom, plead guilty in October 2013 to Investor Fraud but, wasn't sentenced till last month. Mosely got 8 years.
It sure pays to be a rich white criminal.
For some reason neither Bloom nor Mosley received a death sentence, of course they didn't steal a $50 pack of Swisher Sweets. But, as with Bernie Madoff we see criminals like Eric Bloom only get jail time when they swindle Rich People.
Thieves like Bruce Rauner and Mitt Romney, who steal from poor people and "make" their fortunes robbing Working Class Pensions, get elected Governor.