Follow Zerohedge in Real-Time on FinancialJuice. The thrill of the chase and the game. The competition with someone else. The sweaty palms, the furrowed brow, the scanning of the papers, the elation when it works and the belief that the next one will be bigger and better.

Throughout history there have been guys that have been smooth-talkers. Ones that had the propensity to turn horse manure into gold. The ones that enchanted and then disenchanted us all when all was revealed about the scams they had been running. Being a swindler is as old as the hills.

Cheating and defrauding people has always happened. The ones that we should have smelt, as they were standing right under our noses. But, we were probably blinded by the money-making, and anyway, everybody loves a scammer. The welcher that never pays the debt back. The clip artist that fleeces you for money and runs you dry. The stock market abounds with them. So, here they are, the ones that will go down in history as being the biggest slickers and cheats around! There are so many to choose from that these are the ones from the s and the s.

A year-old kid, which makes the story all the more worthy. The guy went from nothing to millionaire, with an IPO and hit the big time. Then, he ended up in prison to pay for the dastardly deed. You have to admire him though. A smooth-talking crook as good as they ever get. He founded ZZZZ Best, a carpet-cleaning and restoration company at the age of 15, in San Fernando Valley.

He joined forces with Tom Padgett and forged documents for carpet restoration, stating that he was working on various projects to make it look like he had business.

They set up a company to front the operation, Interstate Appraisal Services. But, that was all fake. He financed his carpet-cleaning business by check-kiting schemes: When Minkow left school, he needed investment and got it by meeting Jack Caitan, a businessman from LA that was involved in organized-crime deals. Within four years, by , Minkow had decided to go public.

He became a millionaire! But, the company had no money. He set up fake offices and buildings for the insurance side of things and the financial consultant Mark Morze faked thousands of documents. TV ads were launched and the flash cars were bought. Ambitions and greed shot through the roof of all boundaries of reason. Apparently, he had hoped to use the cash from the new company to finish the fake business and go legal. From then on, things just went from bad to worse. The police stepped in and found that he had been laundering money and that it was an organized crime-den.

At the hearing, there were 54 counts of racketeering. He is considered as the largest one-man show for scams in the history of the stock-market. When he got out of prison in , he had found god and seen the light.

He became an Evangelic Pastor. But, he never lasted long. He worked for Drexel Burnham Lambert and he was their top man in the s. That might sound like just peanuts today compared to some guys, but back then it was a record. He provided the stock trader at Drexel Ivan Boesky with huge sums of money and they split the profits when he used insider knowledge of takeovers to hit the jackpot.

Milken was arrested and indicted in March on 98 counts of racketeering and fraud. He was accused of misconduct, insider trading, stock parking or the concealing of the real owner of stock and tax evasion. He pleaded guilty in April to: By pleading guilty immediately, he avoided further investigation and the other charges were dropped.

Wall Street’s 10 Most Notorious Stock Traders | AMERICAN HERITAGE

He got sentenced to ten years in prison, but served just 22 months. He was banned for life from the securities industry. But, in February , the Securities and Exchange Commission carried out an investigation to determine if he had violated this ruling, since he had allegedly provided consultancy to Guggenheim Partners regarding investment.

He turned good and bought himself a couple of years less in purgatory, though. When he got out of prison he set up institutes for medical-research into prostate cancer. I wonder if the same goes for everyone? Ezoe was at the bottom of the insider trading scandal with a bit of corruption thrown in for good measure at Recruit, a human-resources and classifieds company in Tokyo. As Chairman, he offered shares to politicians and senior executives in a subsidiary company called Cosmos just before it went public in Cosmos was launched publically, the shares soared and most people ended up making a profit of 66 million Yen each.

The Prime Minister of Japan at the time, Noboru Takeshita, and the Deputy Prime Minister, Yasuhiro Nakasone, were involved as well as other prominent members of the government.

The government was forced to resign over the scandal. What happened to Ezoe? His trial lasted 13 years! He was given a suspended sentence after all of that! Just makes you wonder why they even bothered after all. No scammer would look himself in the face unless he pronounced the words Madoff, would he? This guy was the biggest scammer possibly of all. The dark side of Wall Street! He started swindling people way back in , if not well before that. Remember, we probably only know the half of it.

Primarily because it lasted so long until What was he offering? It came to light as early as when the Securities and Exchange Commission was made aware of the mathematical impossibility as to the gains being made by Madoff at least the gains that were on paper.

The New York SEC ignored the complaints in and The Boston SEC did the same as early as and ! Or were they just turning a blind eye to the scam? False trading reports were being issued in the back office as and when Madoff ordered them for each client. Trades were backdated and manipulated, accounts were falsified.

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He never invested it as they had believed he was going to. As clients asked for their money, he removed it from the account. Everything was going fine, at least until people started wanting their money back all at the same time. His was considered as the biggest Ponzi Scheme ever. He accused his four largest clients in an interview from his prison cell saying that they were at fault: Levy, Jeffry Picower, Stanley Chais and Carl Shapiro. They knew, according to Madoff exactly what he was doing and they should have stepped in before!

They should have been alerted by the millions that were going into and out of the accounts. He had been turned in by his two sons. Coming after the main-man Madoff, this guy seems like he is just small-fry. He was founder of Pacific Equity.

Little did they know he was in actual fact working alongside the FBI agent that was investigating companies and so had inside information. He also used blackmail to extort funds from other companies, telling them that he would reveal negative false elements about the companies that his clients would believe.

However, this was overturned by the Securities and Exchange Commission that decided that it was not manipulation to reveal information that was indeed true and accurate. However, by , he had been charged again for fraud, racketeering and other crimes in relation to FBI and SEC investigations that he had revealed to the public.

His trial lasted four months and he was accused of revelations concerning 32 different stocks. He appealed, but his sentence was upheld in But, history is always in the making. The perpetrator is attractive. He draws us to him because he made us believe in some stupid scheme that we thought would never work and yet it did for a bit, and fooled us all. In the next installment, we will take a look at the stock-markets scams of the s and bring us closer to the present time!

Originally posted Biggest Scams in Stock Market History. We have good past result of tips that is why we are able to sustain in stock market. We basically provide call in only blue chip stocks on which nifty runs. So we are always on profit whether market is bull or bear because we trade only in those scripts who run the market like SBIN, ICICIBANK, LT, RELIANCE etc. In which the most powerful stock is State Bank of India.

If you want to do intraday trading then you must have to know the behaviour of this stock. NIFTY is like a King in stock market who shows overall performance of market. NIFTY runs on these blue chip stocks. You can understand this by a simple example that consider a king who has a vehcle with ten horses.

So always keep in mind the direction of the SBIN to trade in intraday in the market. OK I could nominate Dick Chainsaw, or Dubya for fronting the biggest scam in history, i. Equity Funding, as I recall was bigger than several you listed Enron was incredibly far reaching in its impact even including brown outs in California that resulted in deaths Should have become a CPA - fucking worthless BA in Poly Sci - It took me until October of freshman year to realize political science consisted of studying the biggest scum in history.

As a CPA, I coulda been one of 'em. If I got a JD and then became a CPA, I really could have moved mountains of cash.

No mention of ZIRP, or the debt super cycle that will end soon. I guess there are too many faces to connect, so demonizing one person - something that feels so good - isn't so easy. You forgot the biggest financial scam of all time: Not exactly "Kosher", but they are "Edomite" Jews. They are the descendents of Esau, never having experienced bondage in either Egypt nor Persia. They lived in Palestine when Moses lead the children of Israel to the promised land, but were living with the Philistines.

Encouraged first by the tribes of Jacob, then by Persian invasion, they moved to the southern Ukraine developing into bankers between the east and west trade routes.

Ahead of the Cossacks, they ended up in Germany, where not allowed to live in the cities, again took up the hotel business and lending on the trade routes between towns. Taking up 'territory's", lead to one of the reasons Germany was so fracticious in the Holy Roman Empire.

They are Merovenians, whose males were exterminated by Charlemagne, but whose womenfolk married right back into the line of Christ and rule, as each prince became a king unto himself. They later supplied not only England with her royal family which still rules today , but the Hessian mercenaries that fought on the British side during our Revolutionary war. They found favor under Hitler, himself an Edomite, re-enforced the SS, sent agents before the war to selected universities in America to spread their seed that now dominates American foreign policy I think they founded Hilton and The Four Seasons, but it took a Mormon to start Marriott.

I think you should go on. I found your post very enlightening, entertaining and of high quality content. It was well written and, I believe, will be well received by the ZH community as a whole. I was planing on building it when I heard she's got lung cancer.

I think I'll save the effort. A billion dollar swindle of the tax payers, with an assist from ben bernanke, pulling in the slosh to crash the stock market during the TARP debate. Zzzz Best was used as a template for virtually every IPO from on. It is OK for very powerful people to run the exact same scam, look at Apple, but not OK for a 15 year old kid. All to support the stock market and the wealth generating machine of selling shares of fake corporations for real cash.

Everything connected with the stock market is fraudulent. Just like every hospital bill, every investment prospectus contains fraud. What put people in jail on this list is now generally accepted accounting principles. Look at Enron, almost completely legal now. Let alone what the Fed has allowed. Groupon and Facebook faked hundreds of million in revenue before their IPOs and it was still allowed to go through.

They would almost be partially liable for almost any crime committed if any part of the planning was done over phone or email. In the event you are blissfully unaware, due to recent Supreme Court rulings the entire genre of "class action lawsuits" are a relic of bygone days. You wanna sue Monsanto for poisoning your food - you're on your own buddy! But soon after that, the Dutch governor, Kieft, sent his men out there one night and massacred the entire population.

Few of them escaped, but they spread the story of what had been don e, and this did much to antagonize all the remaining tribes against all the white settlers. Shortly after, Nieuw Amsterdam erected a double palisade for defense against its now enraged red neighbors, and this remained for some time the northern limit of the Dutch city.

The space between the former walls is now called Wall Street, and its spirit is still that of a bulwark against the people. I nominate Jon Corzine, but only for lack of knowing even.

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