The Clarion-Ledger reported that con man and thief Lamar Adams was sentenced to 19.5 years in prison:
Former Madison County businessman Arthur Lamar Adams was sentenced Tuesday to 19½ years in prison for his $100 million Ponzi scheme…
Investors didn’t know Adams’ business, Madison Timber Properties, was a Ponzi scheme, prosecutors said. He promised the approximately 300 investors a return of 13 percent interest…
What exactly made Lamar Adams a ‘businessman’ or his criminal enterprise a ‘business’?
Like all con men, he’s a thief.
Compare a thief to a drug dealer. A drug dealer sells a product sought on the market and has competition. Drug dealers have employees. The product is illegal and and the competitors sometimes kill each other, but there is a real business that underpins the enterprise.
Avon Barksdale and Stringer Bell were businessmen. Al Capone was a businessman.
A ponzi schemer is a con man who’s just a thief. The ponzi schemer is no better than a purse snatcher, burglar, shoplifter or bank robber. He’s just another variation of a thief. He has no product or service. He’s a crook.
Lamar Adams had no business. He just stole. So what exactly made him a businessman?
He may look and talk like a businessman. But he’s a thief. Call it like it is. And leave the ‘businessmen’ descriptions for drug dealers headed to jail.