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[Not the Onion] For those who complain that CEO salaries are too high... (hexbear.net)

submitted 2 weeks ago* (last edited 2 weeks ago) by InevitableSwing@hexbear.net to c/chapotraphouse@hexbear.net

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https://xcancel.com/DrCraigEverett/status/1864509466001199301#m

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Twitter bio

Call me Craig, not Dr. Everett. Finance prof @ Pepperdine Graziadio Business School. Exec Director of Most Fundable Companies List and Private Capital Mkts Proj

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[-] InevitableSwing@hexbear.net 30 points 2 weeks ago* (last edited 2 weeks ago)

How many CEOs are in jail in America?

That's a great question. My wild guess is that about once a decade an insanely wealthy CEO goes to prison. Is that wildly wrong and way too optimistic?

Even then, they'd get put in cushy, minimum security prisons.

Being that the defendant as no criminal record...

They might as well say "Being that the defendant is in the 1% of the 1%..."

It's a bit off-topic but actress Felicity Huffman was involved in an SAT scandal where she was clearly guilty. The entire thing made me laugh She ended up in the "slammer" for 10 days. In other words - she went to a country club prison. I googled it and I learned the place even had a piano. Her husband William H. Macy never even faced charges.

Varsity Blues scandal - Wikipedia

I love the final sentence of the section. You can see that she really learned from her experience.

In a November 2023 interview with KABC-TV, Huffman broke her silence on the Varsity Blues scandal for the first time, saying "It felt like I would be a bad mother if I didn't do it."

Felicity Huffman

Varsity Blues scandal

Main article: Varsity Blues scandal

Huffman was among dozens charged by the U.S. Attorney's Office on March 12, 2019, in a nationwide college entrance exam cheating scandal. Prosecutors alleged that Huffman's $15,000 donation to the Key Worldwide Foundation, ostensibly a charitable contribution, was in fact payment to someone who posed as Huffman's daughter Sophia to take the SAT, receiving a score that showed significant improvement over Sophia's score on the Preliminary SAT (PSAT).

Huffman was arrested at her California home on March 12 by FBI agents and IRS agents and charged with conspiracy to commit mail fraud and honest services fraud. She appeared on March 13 in Los Angeles Federal Court, where federal agents took her passport and the court released her on $250,000 bail. At her court appearance in Boston on April 3, she acknowledged her rights, charges and maximum possible penalties then waived a pretrial hearing, signed conditions of her release and was allowed to leave.

On April 8, she agreed to plead guilty to one count of conspiracy to commit mail fraud and honest services mail fraud. Huffman formally pleaded guilty to honest services fraud on May 13 and to federal charges for paying $15,000 to have a proctor correct SAT questions answered incorrectly by her daughter. On September 13, she was sentenced to 14 days in jail and one year of supervised release, fined $30,000 and ordered to do 250 hours of community service.

She reported to the Federal Correctional Institution in Dublin, California on October 15 to begin her sentence. She was released on October 25, two days early, because October 27 fell on a weekend. As of October 2020, when Huffman completed her full sentence, no charges have been filed against her husband and Sophia's father, actor and director William H. Macy.