Realization

Another excerpt from my prison journal illustrates the hard work and effort needed to perpetuate my fraud. I sincerely regret that this same hard work and effort wasn’t expended on the legal and ethical operation of my business.

December 28, 2012

The enormity of my financial fraud was almost incomprehensible. Hundreds of millions of dollars or more in stock trades were transacted in my trading accounts. I borrowed money from over 25 entities and four separate banks, with each account requiring its own unique financial statements, promissory notes, contracts, and monthly stock trading statements. It would have required an inordinate amount of work to provide each entity with legitimate financial documents. It was in fact an almost impossible task to provide fraudulent financial statements and stock trading reports to each of my lenders, investors, and banks. It took tremendous skill to compartmentalize all of my lies to coincide with the specific account for which each lie was intended. In other words, it was imperative for me to keep my lies straight.

I could have never operated a fraud of this magnitude had I hired legitimate accountants, auditors, and lawyers. I would have immediately been exposed as a fraud, which upon reflection would have been a good thing.