In recent news, a long time white collar criminal was arrested and sent back to prison. On 2 FEB 2018, aka “Butch” Ballow pleaded guilty to wire fraud and wire fraud conspiracy after his longtime involvement in the defrauding of investors who purchase and sell shares on a public over the counter market. During the trial, a witness was called to the stand that was defrauded by Ballows and explained to the courtroom how this white color crime operation unfolded. According to the victim, Butch would approach investors as if he were a religious man on a missionary interested primarily in spreading the word of the bible. After gaining full trust and confidence in his victims he would then inherently convince them to open their wallets and invest everything.. Some of his victims lost life savings while another well to do people would invest millions. This white color crime spree affected over 500 people and Ballow was sentenced to 40 years in prison as well as a restitution fine of $37,544,944 million dollars (Long-Time Fugitive and Repeat Fraudster Sent to Prison Again, 2018). …show more content…
District Judge Wherein Jr. stated that in all of his years on the bench he had never come across a case involving so much deception. This case was only the last for Ballows a long time criminal whose rap sheet consisted of financial fraud dating all the way back to the 1980’s. In a previous case, Ballow was convicted of money laundering and released on bail prior to sentencing when he flew the coop and moved to Mexico where he lived under several aliases and defrauded numerous investors. In the deceptive operation, Ballow created a fake company called E-SOL that was equipped with fake employers as well as fake financial backers. Over the course of four years, he sold shares in a company that had absolutely no existence (Long-Time Fugitive and Repeat Fraudster Sent to Prison Again,