Fraudster Barry Minkow Busts Large Businesses Again and Again For Personal Profit

Fraudster Barry Minkow Busts Large Businesses Again and Again For Personal Profit

Barry Minkow is a nation unto himself. This man is an incorrigible trickster. There are no murky schemes he has not dipped into. Yet he has fooled everybody for so long due to endorsement of media. They built him up first as a wonder boy and later when his kingdom of falsehood crumbled and he went to jail, they were again taken in by his crocodile tears of repentance and accepted his new avatar of fraud buster, post his jail term.

Barry Minkow built a carpet cleaning business twenty five years ago. He financed it by stealing his grandmother jewellery, drug money and false claims to insurance companies. He lied through his orifice to whoever cared to listen and invest, or publish his success story. On his merry trip, he took mainstream press for ride. They extolled his business acumen, savvy and what not, and that whole thing cost investors about a cool $100 million.

Then one day, the truth came tumbling out and he was sent to prison.

To refurbish his image (or whatever left of it) and to redeem himself, he became a minister and a fighter out to root out fraud. Media once again swallowed the story of born-again Pastor Minkow hook line and sinker. As an icing on the cake, he pretended to help FBI and started a company that supposedly busted fraudulent companies.

But it was just an eye wash. Once again media, public and police were playing right into his hands. His fraud busting company has been leveling unproven allegations against big companies driving their values down by scaring investors and profiting from it. He is a philosopher of lies, a master theologian of fraud too malevolent to be expected to reform in this lifetime.

As for media, they are as lame as they come. The wall Street Journal's Mark Maremont applauded Barry Minkow from rooftop for his fraud busting and when Mark learnt that Barry was once again the subject of investigations, Mark didn't correct the record. The less one says 60 Minutes' affair with Barry, the better. These guys also didn't set the record straight once they realized the truth about him. As for Fox News, it is a Psychotic parallel universe where people like Barry are stars. The network's eulogizing of him is astonishing as it is disgusting.

What's so galling and scary is the fact that he is out on prowl for his prey, killing the hard earned reputations, cashing in on the confusion of his unproven allegations and cheating people of their money.

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