Financial Fraud: It Takes Two
Schemes need more than just a schemer. They depend on willing customers as well.
At a time when Americans are divided on matters of criminal justice, the conviction last week of Martin Shkreli for securities fraud seemed a momentary unifying force. Many were overjoyed to see the widely disliked former hedge-fund manager found guilty, and there was perhaps an additional layer of public satisfaction given how many bankers escaped punishment in the aftermath of the financial crisis. Finally, a verdict everyone seemed pleased with.
But the glee surrounding Shkreli’s conviction points to a naive conception of financial scams. and the view that prevailed in court represent the
