The AP reports that a former Spring, Texas businessman convicted in a $100 million fraud scheme is about to find out whether any time will be shaved off his 60-year prison sentence. He’s asking for 15 years and prosecutors want the 60 years re-imposed.
“The Spring, Texas, man was one of the executives for a group of companies called A&O that used investor funds to buy life insurance policies at less than face value. Investors were supposed to be paid when the insured died, but A&O’s partners squandered their funds,” according to the Associated Press. The scam claimed about 800 victims.
…it can reasonably be said that we are allowing these folk to reward themselves… for committing fraud upon us.
So this guy squanders the funds of investors and is sentenced to prison but, government officials can squander our money daily and they get raises paid for by the victims? Whether it’s the non-existent social security trust fund, printing money to float the values of politically favored sectors of the economy, or just the plain out waste we see in the handing out of grants of our money for all types of dubious purposes, government employees, managers, executives and yes, the elected, don’t often see any punishment.
In fact, with public sector wages now generally higher than those in the private sector, both locally and nationally, it can reasonably be said that we are allowing these folk to reward themselves, again with our money, for committing fraud upon us.
There is one power-lever the average citizen has: his vote. Keep that in mind in the upcoming primary season.