The evidence in the case revealed that Smith told investors he would eventually sell the bonds and they would get exponential returns on their investments. Following Smith’s fraudulent pitch, the investors were told to wire funds to Caldwell bank accounts. Caldwell, Smith and others divvied up the proceeds and Caldwell used approximately $900,000 to cover personal loans, mortgages and credit cards and pay other expenses. Smith spent his $1.08 million cut to pay off loans, buy two luxury sport utility vehicles and make a down payment on a vacation property.
I don’t think it is an irrational statement to say that any person who pleads guilty to this evidence shouldn’t be put in a major position of influence.
But it seems like you have your mind set that blind faith is actually ok sometimes. Which the alternative was the primary point I was trying to make.