On January 23rd “John Kapoor, the founder of the fentanyl manufacturer, Insys, was sentenced to 5.5 years in prison for bribing doctors to prescribe his fentanyl to people who didn’t need it.” In the same week another billionaire was sentenced to 18 months for trying to smuggle a Picasso out of Spain on his yacht. While these seem alarming, there are tons of billionaires serving time in prison and some of them still have their money. Anything from things like bribery to Ponzi schemes to more common crimes like insider trading. This goes to show how many billionaires operate unethical and illegal businesses without facing certain major financial burdens. Thomas Kwok, the former chairman of Sun Hung Kai properties only faced 3 years in jail and a $500,000 fine for an 8.5 million dollar bribe. What does this say generally about billionaires? Is this why so many people distrust billionaires and their intentions? While it is important to note that some billionaires did lose their status, these stories are less talked about in the news and should be discussed more.
Original Story: https://www.forbes.com/sites/nataliesachmechi/2020/01/25/behind-bars-billionaires-and-ex-billionaires-who-have-served-time/#379a34374606
By: J. Kight