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Mike Asimos: A True American Story of Con Artist
Michael Asimos, who made headlines when he was sentenced to eight years in jail after pleading guilty to fraud, money laundering, and other offenses, is a true story of the American dream gone bad. The story was featured on the cover of Newsweek magazine and was reported extensively on MSNBC and Fox News, but it also received media attention around the world. From his humble beginnings as a collegiate football player at West Point to his rise to become one of Wall Street’s most successful traders, Asimos’ life had all the makings of a rags-to-riches narrative.
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Mike Asimos, a West Point graduate with years of Wall Street con experience, is the author of The Real Life Con Game. Asimos was born in Charleston, SC. He received a mechanical engineering degree from West Point Military Academy in 1978 after completing his studies there. After getting his West Point graduation, he enlisted in the United States Army as an officer. Though he was forced to leave the military after suffering serious back injuries during the Gulf War. Asimos went on to become a successful Wall Street businessman, but he quickly realized that he was spending more time fantasizing than really making money.
He made $8 million in just two years, over half of which came from other financial institutions that he conned into backing his frauds against them. Following the success of these con jobs, Asimos began aiding others in starting their own. Michael Asimos had an excellent life as a young guy. But when the 2008 financial crisis hit Wall Street, what should have been his defining moment turned out to be a disaster. Michael Mike Asimos was a successful Wall Street broker who became an FBI informant and helped the government uncover a major securities fraud scheme. He was nonetheless given a five-year prison term for his part in the conspiracy after years of hiding his identity.
After completing his term, he was released from prison and immediately began con artists. But this time, the FBI had him under surveillance. He was detained and later found guilty of mail fraud once again. Since then, he hasn’t participated in any additional frauds. The difficulty is that none of his friends appear to want to see him return. It seems that they think he has lost all credibility with them. I’m not sure what Mike Asimos will do next or whether there will finally be a redemption tale in this, but there’s no doubt that this is a difficult position. It’s said that he’ll play another con game in the future and try his luck again. However, as things are, Michael Asimos is just a bad con artist.
This post topic: Financial