Who says the rich don't steal? Read this
Whoever says the rich don't steal must bone up on current events.
Foremost example of rich persons who continued to amass dirty money was Pablo Escobar. For seven straight years Forbes magazine ranked the Colombian drug boss among the world's richest. Seventh in fact in 1989, when his personal fortune was estimated at $25 billion. Eyeing political entry then, he offered to pay the $10-billion national debt. He enriched himself smuggling cocaine to America.
Escobar is often compared to Al Capone. The Chicago Mafia capo is said to have hauled in by 1939 1.3 billion in today's dollars from illegal alcohol, gambling, prostitution, and vice. His bookmaking and extortion syndicate employed 600.
Other wealthy persons lived lives of crime. Frank Lucas earned $1 million a day sneaking heroin from Vietnam to America inside coffins. Griselda "The Black Widow" Blanco netted $2.5 billion heading the Medellin Cartel for Escobar. Amado Carillo Fuentes took over Mexico's Juarez Cartel after killing his gang boss, and became the world's second richest drug lord. He was called "Lord of the Skies" for his collection of aircraft, including 22 Boeing-727s, used to smuggle cocaine to the US.
Swindler Dawood Ibrahim's wealth was estimated at $6.7 billion when he funded the 1993 Mumbai terror attacks. Economics graduate Semion Mogilevich became Russia's richest Mafia chief, $10 billion, via counterfeiting, securities and mail fraud, contract murders, money laundering, arms trafficking, and white slavery. By controlling the entry of drugs to Puerto Rico onto the US, Jose Figueroa Agosto amassed $1 billion. A tenth of that, $100 million, he spent bribing public officials. Despite a 200-year prison term he was able to walk out with fake release orders. All those gangsters thrived by paying off law enforcers and judges, notes investopedia.com.
In 2008 was uncovered the world's biggest Ponzi or pyramiding scam and America's worst financial crime. No one suspected Bernie Madoff pulling it off for years because he was the wealthy non-executive chairman of the NASDAQ stock market. In his bank account were $64.8 billion of 4,800 investment clients of Madoff Associates.
To say that the rich don't steal is to cover up crime.
In the Philippines are the rich who loot the economy. Oligarchs control utilities: water, power, fuel, telecoms, transport. Although but a few families, they own industries like banks, food, retail, and land development. Deplorable is that they cheat taxes and bribe to wangle state concessions. Many books have exposed their decades-long greed.
Controlling politics are dynasties. Again, only a few families corner national and local government positions -- against the Constitution. Alternating or simultaneously sitting are spouses, siblings, parents and offspring. Public service is their family business. They take kickbacks from the government contracts they concoct.
In 2013 was exposed the collusion of oligarchs and political dynasts in plundering multibillion-peso pork barrels. Eight senators, more than 150 congressmen, and dozens of local officials were implicated. They were listed as sponsors of the fixers' fake projects. Those fixers came from well-to-do families.
Power corrupts; absolute power corrupts absolutely. Ferdinand and Imelda Marcos and cronies were the worst oligarchs and political dynasts. The Marcoses ensconced themselves in power for life. They used aliases William Saunders, Jane Ryan, and more to squirrel away the national wealth into Swiss banks. They amassed companies, buildings, lands, mansions, artworks, jewelry, antique, and signature watches. Total loot: $30 billion.
Due to the Marcoses and cronies, the economy collapsed in the 1980s. Due to the restored oligarchs and political dynasts the economy still cannot revive.
For lack of checks and balances, dictators are able to amass ill-gotten wealth. Seven recent ones are:
• Muammar Gaddafi, Libya, $35.1 billion seized in 2011 in the US, Austria, Canada, and Britain;
• Bashar al-Assad, Syria, $1.5 billion;
• Hosni Mubarak, Egypt, $70 billion over 30 years;
• Ali Abdullah Saleh, Yemen, $32 billion to $60 billion over 33 years;
• Zine al Abidine Ben Ali, Tunisia, $17 billion when overthrown, but his wife escaped with $60 million in gold bullion;
• Robert Mugabe, Zimbabwe, $1 billion;
• Teodoro Obiang Nguema Mbasogo, Equatorial Guinea. $600 million, including a $35-million estate in Malibu and two $1.7-million Bugatti Veyrons.
Invariably their people wallowed in poverty, investopedia.com reports.
Could the Marcoses have inspired Prime Minister Najib Razak and wife Rosmah? The son of Malaysia's second PM, Najib is said to have stolen $385 million (1.6 billion ringgit) from one state bank alone. Earlier as defense minister, he took kickbacks from the purchase of two French submarines. If Imelda had a collection of 3,000 pairs of shoes and handbags, Rosmah amassed from frequent shopping sprees abroad 300 designer handbags. Police raiders found cash in various denominations and jewelry stashed in the bags.
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Ten things money can't buy: (1) Manners, (2) Morals, (3) Respect, (4) Character, (5) Commonsense, (6) Trust, (7) Patience, (8) Class, (9) Integrity, (10) Love.
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Catch Sapol radio show, Saturdays, 8 to 10 a.m., DWIZ (882-AM).
My book "Exposés: Investigative Reporting for Clean Government" is available on Amazon: https://tinyurl.com/Amazon-Exposes
Paperback: https://tinyurl.com/Anvil-Exposes or at National Bookstores.
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