CONFESSIONS OF A
MONEY LAUNDERER by Kenneth Rijock
Financial Crime Consultant, for World-Check
Confessions of a Money Launderer - Part 92
27 September 2009

When the investment firm that I was performing compliance officer duties for went into receivership, one of the firm's most productive sales executives asked me to step into a compliance role at a new start-up that he had decided to form. Since he was in the top tier at the firm, and had a large number of major European investors who had become his continuing clients, my job, as gatekeeper, would be to keep out the unsuitable ones. He was your typical overbearing successful A-type sales executive; obnoxious at times, but a proven producer of new business. We visited two established firms in our industry in Miami and in Canada, and were on our way to creating a viable entity, when he took in an old friend, with a "colourful" background as a partner, and that's where I drew the line. I am happy to be reporting on white-collar crime, in my articles, but I want no part of it as a participant. I got out quickly. Here's why.

I have enough experience with sales staff to separate the good from the bad; the ones who may tiptoe around the edges of the law, and those who willingly cross over it, to maximise their returns, irrespective of the possible consequences. Back in the nineteen seventies, I was acting as outside legal counsel to several chemical companies, and I had sufficient contact with their sales staff, to teach me how to recognise the bad eggs. The problem is, the bad ones are frequently the most successful, and when they cut corners, management frequently forgives their transgressions. Unfortunately, lawyers do not generally have the power to terminate problem partners, so I decided to move on.

One of the companies that I had examined had strict rules about its operation, and they were interested in me. That is where I ended up, plus my compliance writing and lecturing on the side but the real story remained with the company formed by the top salesman that I had just left. Here's the sad story:

  • Extremely successful salesmen, those who earn seven figures annually, often believe that their success entitles them to privileges over and above those enjoyed by others. The individual, who had a live-in girlfriend for several years, also had two outside love interests. When he went on trips, he would often take one or the other along. At the time that he was establishing his new business, he was seeking to extricate himself from the nine-year relationship. She obviously expected marriage, but he was already mentally moving on.
  •  Was his girlfriend too materialistic? One time, when we visited them on our way to Palm Beach, she bored my wife to tears with a fifteen-minute recitation of all the material things they owned. Since she had nothing going on herself, the girlfriend stuck like glue to the salesman. Eventually, he decided to terminate the relationship, give her some money, which I considered "palimony," and move her out of his house.
  • She had other plans. a few month earlier, she had persuaded him to buy her a .357 Magnum handgun, ostensibly for her personal protection, during his overseas trips. when she was home alone. One day, when he was out of the house at work, it appeared that she read an e-mail on his computer from one of his two "outside" girlfriends. Incensed, she waited for him to return.
  • The best guess is that she picked an argument with him, and then grabbed  the firearm, allegedly shot him in the back, subsequently making an emergency call to the authorities. He died then and there.   When paramedics and the police arrived, she alleged that he was beating her, and threatening her with a knife. She did have some minor injuries, but it is believed that they were self-inflicted. She immediately checked herself into a medical centre for treatment.
  •  She claimed self-defence, and for a number of months, the investigators appear to have insufficient evidence with which to charge her, but eventually, listening to pleas from family and friends, they did obtain an indictment for First-Degree Murder.

The trial is set for October. If there's a moral here, it's that material success should never be allowed to
go to your head, and that if someone has been with you during your road to success, they may take offence when you seek to discard them.

Next Chapter: Writing about financial crime and consulting turns out to be fun after all.

____________________________________________________________________________________________________

The facts and opinions stated in this article are those of the author and not those of World-Check. World-Check does not warrant the accuracy of any facts and opinions stated in this article, does not endorse them, and accepts no responsibility for them.

Read more in this exciting series

Confessions of a Money Launderer - Part 96
Confessions of a Money Launderer - Part 95
Confessions of a Money Launderer - Part 94
Confessions of a Money Launderer - Part 93
Confessions of a Money Launderer - Part 92
Confessions of a Money Launderer - Part 91
Confessions of a Money Launderer - Part Ninety
Confessions of a Money Launderer - Part 89
Confessions of a Money Launderer - Part 88
Confessions of a Money Launderer - Part 87
Confessions of a Money Launderer - Part 86
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Confession of a Money Launderer - Part 83
Confessions of a Money Launderer - Part 82
Confessions is on holiday until 5 January, but read earlier chapters here
Confession of a Money Launderer - Part 81
Confession of a Money Launderer - Part 80
Confession of a Money Launderer - Part 79
Confessions of a Money Launderer - Part 78
Confessions of a Money Launderer - Part 77
Confessions of a Money Launderer - Part 76
Confessions of a Money Launderer - Part 75
Confessions of a Money Launderer - Part 74
Confessions of a Money Launderer - Part 73
Confessions of a Money Launderer - Part 72
Confessions of a Money launderer - Part 71
Confessions of a Money Launderer - Part 70
Confessions of a Money Launderer - Part 69
Confessions of a Money Launderer - Part 68
Confessions of a Money Launderer - Part 67
Confessions of a Money Launderer - Part 66
Confessions of a Money Launderer - Part 65
Confessions of a Money Launderer - Part 64
Confessions of a Money Launderer - Part 63
Confessions of a Money Launderer - Part 62
Confessions of a Money Launderer - Part 61
Confessions of a Money Launderer - Part 60
Confessions of a Money Launderer - Part 59
Confessions of a Money Launderer - Part 58
Confessions of a Money Launderer - Part 57
Confessions of a Money Launderer - Part 56
Confessions of a Money Launderer - Part 55
Confessions of a Money Launderer - Part 54
Confessions of a Money Launderer - Part 53
Confessions of a Money Launderer - Part 52
Confessions of a Money Launderer - Part 51
Confessions of a Money Launderer - Part 50
Confessions of a Money Launderer - Part 49
Confessions of a Money Launderer - Part 48
Confessions of a Money Launderer - Part 47
Confessions of a Money Launderer - Part 46
Confessions of a Money Launderer - Part 45
Confessions of a Money Launderer - Part 44
Confessions of a Money Launderer - Part 43
Confessions of a Money Launderer - Part 42
Confessions of a Money Launderer - Part 41
Confessions of a Money Launderer - Part 40
Confessions of a Money Launderer - Part 39
Confessions of a Money Launderer - Part 38
Confessions of a Money Launderer - Part 37
Confessions of a Money launderer - Part 36
Confessions of a Money Launderer - Part 35
Confessions of a Money launderer - Part 34
Confessions of a Money Launderer - Part 33
Confessions of a Money launderer - Part 32
Confessions of a Money launderer - Part 31
Confessions of a Money launderer - Part 30
Confessions of a Money Launderer - Part 29
Confessions of a Money Launderer - Part 28
Confessions of a Money Launderer - Part 27
Confessions of a Money Launderer - Part 26
Confessions of a Money Launderer - Part 25
Confessions of a Money Launderer - Part 24
Confessions of a Money Launderer - Part 23
Confessions of a Money Launderer - part 22
Confessions of a Money Launderer - Part 21
Confessions of a Money Launderer - Part 20
Confessions of a Money Launderer - Part 19
Confessions of a Money Launderer - Part 18
Confessions of a Money Launderer - Part 17
Confessions of a Money Launderer - Part 16
Confessions of a Money Launderer - Part 15
Confessions of a Money Launderer - Part 14
Confessions of a Money Launderer - Part 13
Confessions of a Money Launderer - Part 12
Confessions of a Money Launderer - Part 11
Confessions of a Money Launderer - Part 10
Confessions of a Money Launderer - Part 9
Confessions of a Money Launderer - Part 8
Confessions of a Money Launderer - Part 7
Confessions of a Money Launderer - Part 6
Confessions of a Money Launderer - Part 5
Confessions of a Money Launderer - Part 4
Confessions of a Money Launderer - Part 3
Confessions of a Money Launderer - Part 2
Confessions of a Money Launderer - Part 1
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