Friday, January 13, 2012

I Will Go Sailing No More


There she is. A typical Newport yachtie. Sails her yacht in the Newport-Bermuda Race. Hangs out on St. Barts. Seems to have lots of rich friends. Is apparently something of a genius in dealing commodity futures.

Wrong, wrong, wrong.

Liza Baldwin was running a Ponzi scheme and defrauded her victims out of millions of dollars. She talked a good game but today she was sentenced to 30 years at the Rhode Island Adult Correctional Institute, with 8 to serve, and ordered to pay $7.9M in restitution.

No more sailing for you Ms. Baldwin.

7 comments:

Baydog said...

But in eight years, she'll still be out in time for AC35.

Tillerman said...

Yeah, yeah, yeah. She'll probably have to take up blogging to make a living, though.

Doc Häagen-Dazs said...

For a long time I have wondered if there's life after sailing. And now I know. Incarceration. That's what it's going to take to get me off the water.

Tillerman said...

Many years ago I wrote on this blog about a guy with whom I had actually sailed who ended up having his sailing career terminated in that way too. (Turns out he was a child molester. Ugh!)

Be good Doc.

Doc Häagen-Dazs said...

I shop-lifted a shoe horn yesterday..... :-(

Pandabonium said...

Bad career move. If she had only gone to work for JP Morgan she could have done the same things, but would be enjoying taxpayer funded bonuses now, immune from prosecution.

Tillerman said...

Or running for President, for Pete's sake.

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