Wednesday, April 27, 2011

Networking Opportunities

Prison can present networking opportunities.  The New York Daily News leads this yesterday's edition, at least at it's website with the story of "disgraced" former NY State Comptroller Alan Hevesi doing time with former TYCO CEO Dennis Kozlowski at the NY's Mid-State Correctional facility.  This is from reporter Kenneth Lovett's story.

They're the state prison system's high profile Odd Couple: Disgraced ex-Controller Alan Hevesi is serving his time with shamed Tyco CEO Dennis Kozlowski.  The scammers mingle together with 20 other inmates from 6:30 a.m. to 11 p.m. in the protective custody unit at Mid-State Correctional Facility in Oneida County.

Hevesi, 71, landed at the prison late last week to start his one- to four-year stint on a felony corruption charge.  He pleaded guilty to pocketing $1 million in gifts for himself and cronies in a massive pay-to-play pension fund scam.

Kozlowski, 64, is serving up to 25 years in the slammer for his 2005 conviction on grand larceny and securities fraud - ripping off $100 million from his company to support his lavish, jet-set lifestyle.
Hevesi used his ill-gotten gains to fly himself and family to Israel and Italy, while Kozlowski used his to fund a booze-fueled birthday bash in Sardinia for his wife - complete with a replica of Michelangelo's statue of David urinating vodka.

Inmates jointly eat, exercise, attend recreation and education programs and perform prison job assignments all within the boundaries of the protective custody unit.  That likely leaves plenty of time for Hevesi and Kozlowski to kibitz about high finance.

Hevesi, who served as controller from 2003 to 2006, grew New York's investment in Tyco, topping out at 8.3 million shares right before Kozlowski's conviction, state records show. 
At Morgantown there were 1200-1300 inmates at anyone time.  By far the majority of this population were drug-related offenders, but as I said there were many white collar criminals including real estate developers, builders, brokers and former fortune five hundred executives.  Because the inmate population included accountants, financial types, lawyers, and physicians, inmates are able to avail themselves of classes, seminars, and tutorials of all types.  It was not unusual for me, a library dweller, to be "ear-hustling" day trading lessons as one knowledgeable inmate tutored another about commodities, penny stocks, and currency trading.  Networking opportunities to be desired?  No.

1 comment:

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