Barry Minkow Oops I Did It Again
Barry Minkow is a convicted conman, and he believes anyone can detect redemption.
That's one of the reasons the San Fernando Valley native got involved in the iii-part "King of the Con" docuseries, which begins streaming on Discovery+ January. 14. Aye, information technology'south a Television receiver testify: It's also a warning to would-be fraudsters.
"When you lie to get money, that thing has 1 ultimate destination," Minkow said in a contempo telephone interview.
Minkow was one time known every bit a whiz-kid who gained national fame as a xvi-year-old later on founding ZZZZ Best, a rug-cleaning company, in the garage of his Reseda abode in 1982. He became a Wall Street star when he was twenty as the youngest person at that time to accept a company public. His success fifty-fifty landed him on "The Oprah Winfrey Show" in April 1987.
He was convicted of fraud in 1988 after his business was revealed to be the front end for a Ponzi scheme that was connected to the mob. Minkow was sentenced to 25 years in federal prison and served almost eight.
Minkow founded ZZZZ Best when he was in high school, which seemed to be a legit and successful rug-cleaning and restoration company. So how did it all go so horribly wrong?
"My poor decision making, my compromise, my lying to go money, " he said.
He also blamed his bulldoze to succeed.
"I wanted to practice what was right only I was prepared to do what was incorrect to survive and ever with the justification that every bit soon as I open my next office I'll pay off this cheque-kiting scheme, or I'll pay off this credit card fraud, and when I get my next office I'll pay off the mob."
In prison house, he found Jesus and reinvented himself as a pastor of the San Diego Community Bible Church building. He also founded the Fraud Discovery Found to investigate fraud for the FBI and FCC, working with the government to uncover crooks like him.
Just in 2011 he was sent back to prison house for using his work every bit a fraud detector to commit securities fraud. A few years later on, while yet in prison, he was convicted of some other crime; the embezzlement of $3 million from his San Diego church. And then why did he cheat his own congregation?
"In my mind, I'yard thinking we have to fund these somehow so I'll borrow from the church and pay it back, borrow it from the church and pay information technology back. It wasn't like the church building was running a Ponzi scheme, it was me lying to myself saying 'I'thousand uncovering a billion dollars worth of fraud,'" he added. "And so in my mind, I could exercise any evil I want, so it doesn't thing because I'm doing good."
He also blamed drug use.
"I was secretly addicted to drugs, Oxycontin and Vicodin, living a double life uncovering fraud for the FBI and the FCC by day and past night commingling funds to back up it all, lying and really committing the worse of possible sins, which is when y'all're a pastor yous violate a position of trust. That's worse than murder."
Minkow was released from prison in 2018. He has already written a couple of books about his experiences and now in that location's a serial coming out about him, then we asked, did offense pay off?
Minkow said no, citing his time in prison.
"The feds got it right with me. The justice system worked, yous're non talking nigh a slap on the wrist. In both cases, I did 7 and one-half years and I didn't practise them in Camp Lollipop. I want people to spotter this docuseries with one thing in mind: The guy did his time," he said.
Minkow said he but cares about ane specific group of people believing him and learning from his mistakes.
"Hither'south who I'yard trying to reach, and let's make certain we're existent clear on this, if you prevarication to get money, or attempted to, if you're an alcoholic, a drug aficionado or been in and out of prison, you're my people. People who oasis't experienced it — they don't lie to get money, they don't commit infidelity, they haven't failed, they are not addicted or struggling with alcohol or drug addiction — I don't intendance what those people recollect or say virtually me, because they're not my people," he said. "I take a specific, limited targeted audition that I'm trying to accomplish."
How to sentinel:
Where: Discovery +
When: Begins streaming January. 14
Source: https://www.dailynews.com/2022/01/11/barry-minkow-got-famous-cheating-the-system-now-hes-back-with-king-of-the-con
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