“Those who aspire to a life of white collar crime, and there are always a few misguided business-people out there, believe they have a full-proof scam that will go undetected, ” writes Walter Pavlo on Forbes.com. “Even in the unlikely event that their crime is discovered, they have an escape plan that includes some exotic, warm destination where they will live happily ever after.”

Pavlo tells the story of once-fugitive Lawrence “Larry” Hartman, a U.S. citizen and a Columbia Law School graduate who once thought himself a king of penny stocks.

“Hartman and some other scammers created empty-shell companies that had the appearance of being publicly traded, after which they cold-called elderly investors in the UK and Ireland to buy shares in the companies. The scam operated between July 2004 and March 2008.  According to his indictment, the group brought in $132 Million into a Costa Rican bank account” Pavlo writes.

The story describes Hartman’s  life on the run and his eventual downfall.

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A former partner at the law firm Fox Rothschild was found guilty on Friday of engaging in insider trading after learning that a client at his law firm was about to announce a merger, according to a Reuters report.

A federal jury in Philadelphia convicted Herbert Sudfeld, 64, on charges of securities fraud and making a false statement.

The Doylestown, Pennsylvania-resident faces a maximum sentence of 25 years in prison, according to the U.S. Attorney’s Office in Philadelphia.

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