Sun Sentinel Crime

                                                                   Abstract

A review of Professional, Government and Corporate level crime as reported by The Sun Sentinel on Sun Sentinel .com .

Sun Sentinel Crime

            A review of the Sun Sentinel dated February 1st, 2009 reveals a number of interesting criminal investigations in progress, with corporate corruption prevailing. One corporate case involves the husband of the Broward County Mayor, who also happens to be a noted Lobbyist. The story, titled ‘Lawsuit alleges husband of Broward County Mayor Failed to Repay $2 million In Loans’, reported by Scott Wyman states that “According to the lawsuit, Russ Klenet — Ritter’s spouse and a prominent state lobbyist — borrowed the money to take over an investment firm that buys and sells life insurance policy settlements”(Wyman.2009), and then he sold the business, and kept all the proceeds. Klenet’s firm RHK Holdings  was a billion dollar Ponzi scheme that according to Prosecutors defrauded investors worldwide. It is notable that “ The lawsuit comes at a time when Ritter has been discussing a job in President Barack Obama’s administration”(2009.Wyman). The former vice president of Mutual Benefits Corp, Steven Steiner,  is one of the two men bringing the charges against Klenet, and he has also been indicted in a major fraud case. The suit was initiated because the Steiner and his partner are seeking a settlement from Klenet to pay a  “ $4 million settlement with the Securities and Exchange Commission.

          Another  professional crime, in the ponzi family, reported by Vanessa Blum, is titled ‘Investment Business is Broke; its Manager Expects To Go To Prison, Firm’s Lawyer Says’. Defendant “ Riolo purported to trade foreign currency”, and took clients investments, ”By November 2008, his statements showed an account balance topping $5 million”(Blum.2009). Somehow all of  “Those paper riches evaporated in early January, when Riolo closed his businesses and turned over his records”(Blum.2009). His assets, which are nil, have been frozen, and the case is pending. Reporter Blum, in another article also details the Mutual Benefits Fraud case involving Klenet, titled  ‘Q&A: Anatomy of Alleged Mutual Benefits $1 Billion Ponzi Scheme’. A case described by Blum as a ”Complex, developing story, which has touched many segments of society, from AIDS patients and activists to prominent members of the region’s legal community”(Blum. 2009).

References

     Blum, Vanessa. January 23, 2009.” Investment Business is Broke; its Manager Expects To Go To Prison, Firm’s Lawyer Says”. Www.SunSentinel.com.  http://www.sun-sentinel.com/news/local/crime/sfl-flbponzi0123sbjan23,0,2936783.story. (Accessed 01 February 2009).

     Wyman, Scott. 2009. ‘Lawsuit alleges husband of Broward County Mayor Failed to Repay $2 million In Loans’. Www.SunSentinel.com.

 http://www.sun-sentinel.com/news/local/broward/sfl-flbklenet0122sbjan22,0,7234528.story.

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Footnotes