Even though they wear thousand dollar suits, sit behind expensive desks and make ridiculous money, rich businessmen can still be criminals and steal your money. White collar crime is a type of crime that has been taking place for decades and still runs rampant in the modern day.
Some of the people that will appear on this list are responsible for stealing/losing millions and sometimes even billions of dollars that don’t belong to them. Read on and check out 10 of the worst white collar criminals in history.
10. Michael Milken
Starting off our list is Michael Milken, who was the head of the high-yield bond department of Drexel Burnham Lambert, which was a large investment banking firm in the USA. He rose to the public eye for his involvement in popularizing the market for high-yield “junk” bonds. “Junk” bonds are bonds that have a higher risk of default or other adverse credit events, but typically pay higher yields than actual quality bonds in order to make them attractive to investors. He was caught after a colleague outed him for making fraudulent transactions such as insider trading and stock manipulation. He was fined $600 million and was sentenced to 10 years in prison, but served only two. He was also responsible for Drexel Burnham Lambert filing for bankruptcy in 1990.