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:
But in eight years, she'll still be out in time for AC35.
Yeah, yeah, yeah. She'll probably have to take up blogging to make a living, though.
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.
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.
I shop-lifted a shoe horn yesterday..... :-(
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.
Or running for President, for Pete's sake.
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