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New Book Tells Tales of the Century's Top White-Collar Crooks


NEW YORK, Aug. 3, 2000 (SmartPros) Charles Ponzi, who arrived from Italy with $2.50 in his pocket, conned thousands of working people out of $20 million in the summer of 1920. And in 1929, Ivar Kreuger was burned in the stock market crash after making billions from manufacturing penny matches.



Although the crimes were committed years ago, their tales, along with eight other white-collar criminals, are now being told in a new book titled, "Frankensteins of Fraud: The 20th Century's Top Ten White-Collar Criminals," written by Joseph T. Wells, the founder and chairman of the Association of Certified Fraud Examiners.

Wells is promoting his new book at the Association of Certified Fraud Examiner's 11th Annual Fraud Conference in New York. The conference, which attracted about 1,700 professionals, started Monday and ends Friday.

"It was a fun book to write and it is a fun book to read," says Wells, who spent two years writing the book, which was released July 25. "The 20th Century has produced this bumper crop of white-collar criminals."

The book, priced at $49, follows the personalities of the top ten fraudsters, providing readers with insight on what made them tick, commonalities shared by all 10, the sociological conditions that fostered each crime, and more.

"Frankensteins of Fraud" is Wells' seventh book. His other works include "The Fraud Examiner's Manual, Third Edition" and "Occupational Fraud and Abuse." Wells was an FBI agent, specializing in white-collar crime. In his ten years with the bureau, he assisted in nearly 200 criminal convictions, including that of former U.S. Attorney General John Mitchell for his involvement in the Watergate case.

-- By Antoinette Alexander

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