Shalom weiss biography definition
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Sholam Weiss - Biography
Sholam Weiss (also spelled Shalom Weiss; born April 1, 1954), is a former American businessman and convicted felon. In 2000 he was convicted of multiple fraud and money laundering counts and sentenced to 845 years in prison for looting the National Heritage Life Insurance.
Shalom weiss biography definition
It was believed to be the largest insurance failure in history at the time, with over $450 million in losses. Weiss fled the country at the end of his trial and was a fugitive for one year. He was subsequently extradited from Austria.
The sentences imposed on Weiss and his 2 accomplices, Michael Blutrich and Richard Herman, were believed to be the longest known to have ever been imposed for a white-collar crime. Weiss was convicted of 78 counts including racketeering, wire fraud, and money laundering and ordered to pay $125 million in restitution and $123 million in penalties.
About a dozen individuals were convicted for involvement in the collapse; another defendant, Keith Pound,