Monday, October 11, 2010

Whistle. Then Worry and Wait.

Interesting story on whistle-blower Arthur F. Schlobohm IV via The New York Times.
During the period when Mr. Schlobohm helped the F.B.I. to gather evidence, from April through July 2009, at least $16 million flowed into Mr. Cook’s fund — and disappeared. From the time securities regulators first had credible information that he was engaged in a fraud and when the authorities shut down his fund, December 2008 to July 2009, some $35 million flowed into his coffers — funds that afforded Mr. Cook a lifestyle that included an expensive gambling habit, a collection of FabergĂ© eggs, fancy cars and the construction of a casino in Panama.
“There was a tremendous amount of guilt being there,” watching Mr. Cook lure investors, said Mr. Schlobohm in an interview, the first in which he has spoken publicly about how he helped put Mr. Cook behind bars. “Knowing this was a fraud with the highest degree of certitude, and having to watch people in the process of losing their life savings, was extremely difficult.”
Click Here to Read: Whistle. Then Worry and Wait.

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