WHITE COLLAR CRIME PAYS

Peter Chrisanthopoulos, a former Ogilvy & Mather media executive has pleaded guilty in federal court to overbilling the government for work on behalf of the Office of National Drug Control Policy. We've spoken of those ads before, when two other Ogilvy & Mather's executives were indicted for defrauding the government in the same overbilling scheme.

The article doesn't mention sentencing. How much do you want to bet he'll do less time for stealing millions of our tax dollars than the average person - who didn't steal a thing but is convicted of simple drug possession - will. I wouldn't be surprised in fact, if this guy ends up doing home arrest on an electronic bracelet.

I'm sure some of you remember how much Michael Milken 'suffered' after his brush with the law. For those who don't a quick review.

...Ultimately, Milken was the target of a 98-count criminal indictment and a massive civil case filed by the Securities and Exchange Commission (SEC). The charges against him included insider trading, price manipulation, falsifying records, filing false reports, racketeering, and defrauding customers; the heart of the indictment accused Milken of "stock parking," or arranging to swap securities with his accomplice Ivan Boesky to hide their true ownership. In essence, Milken used Boesky as a front to trade stocks in companies in which Drexel had a confidential interest--earning millions for both men.

Milken spins it a different way on his own home page. Buried at the bottom of his bio.

In 1989, the government charged him with securities/reporting violations in a case that continues to engender controversy. He admitted conduct that resulted -- during a brief period in his 20 years on Wall Street -- in five violations. Such conduct had never before (and has not since) been subject to criminal prosecution. He was assessed a $200 million fine and incarcerated 22 months. Immediately after paying this debt, he resumed his lifelong philanthropic activities.

Activities that include to be fair, some real philanthropic work but, mostly seemed designed to restore Milken's political influence and keep him a billionaire. The fine didn't dent the working capital he stole from the American public with his stock manipulations.

Twenty two months for massive fraud that adversely impacted the financial well-being of thousands of Americans while in New York state, there are mothers of small children doing one hundred and twenty two months for small time drug violations under Rockefeller Laws. There is something seriously wrong with this picture.