Here's an interesting question:
Would you spend six years in prison in exchange for $15 million?
I'm bringing up this question because of the recent case of former Enron CFO Andrew Fastow who was sentenced to six years in prison for his role in the $11 billion accounting fraud of that company. Fastow helped the government prosecute others and got a reduced sentence out of the deal.
Some of you (like me) may wonder how Fastow profited from the Enron crimes. Other than his salary (which I assume was rather substantial), here's what I can put together regarding how he made out financially:
- He made $45 million from the illegal activities.
- He gave back $24 million.
- He obviously had to pay some stiff legal bills. I have no idea what these are, but let's say $6 million to get us to a round number.
- This leaves him with $15 million in profits in exchange for six years of his life.
So, would you take the same deal -- six years in prison for $15 million? Let me know what you think in the comments below.
I'm assuming that he'll be spending it in a country club prison of some sort. But still... No. I'd miss too much of my kids' lives.
Posted by: fivecentnickel.com | October 06, 2006 at 08:29 AM
Plenty of people devote their entire lives to work for more than 6 years and wind up with a lot less than $15mil.
Posted by: cory | October 06, 2006 at 08:58 AM
I might be willing to do it for a shorter term if I could use the money to ensure my wife and future kid(s) would have a happy future, but I have a feeling that wouldn't be possible with husband/daddy behind bars. Very interesting question, FMF!
Posted by: Nick | October 06, 2006 at 08:59 AM
I'm with fivecentnickel. The chances of anything I do in the next 6 years netting that much is very slim. I would consider it an investment.
Posted by: Pete | October 06, 2006 at 09:45 AM
I'd definately consider it, given the fact that he's (and by extention I'd) probably spend it in a federally funded resort prison. I would miss my fiancee greatly, but she could visit me, and I have no kids yet. $15 million is nothing to sneeze at.
Posted by: Jared Rice | October 06, 2006 at 09:49 AM
Sentenced to six years, will most likely do 2, then parole... $7.5 M per year at club FED? You betcha!
Only problem is I would not be interested in doing the illegal activities that would make the deal happen from an ethical perspective.
Posted by: D | October 06, 2006 at 10:31 AM
I think you're making it too simplistic. Perhaps you should ask, are you willing to be raped in prison for 6 years for $15 million?
Are you willing to spend the rest of your life worried that someone will kill you because of the financial hardships you caused so many for $15 million?
or even perhaps, Are you willing to trade your soul for $15 million?
Posted by: Rich Slick | October 06, 2006 at 10:52 AM
no questions asked, hands down, YES! I value a year in prison at $2mil. So actually I'd consider staying behind bars for 7.5 years.
Posted by: Eric G. | October 06, 2006 at 11:13 AM
Unfortunately, as much as I'd like the money, I don't think I could handle the 6 years in prison... maybe 6 months though?!
Posted by: Amanda | October 06, 2006 at 01:34 PM
If that's 6 years in the same type of prison that Martha Stewart did her time in, then I wouldn't see any problem with it. Is his 6 years a definite 6 years or will he be parolled in 4.
Posted by: King of Debt | October 07, 2006 at 03:28 PM
I agree with Rich. I have never been in prison and don't want to start now. I don't care if it is Club Fed....NO WAY! I couldn't handle not being able to do the things I want to do, and having someone telling me when to eat, sleep or use the restroom. I would rather scrape by on my mediocre salary, saving what I can for retirement and sleeping soundly at night.
Posted by: Brad | October 07, 2006 at 04:52 PM
I've thought a couple times about whether I could deal with prison. I would just miss my wife, family, and friends too much, and it's not like my life wouldn't be horrible when I got back out. What type of work will this guy get in 6 years?
Posted by: Clever Dude | October 07, 2006 at 09:13 PM
I understand the spirit (i.e. fun) of the question, but I just can't accept it. A more accurate question would be:
Would you be willing to ruin the financial lives of thousands of people, destroy two companies (Enron and Arthur Anderson), and spend 6 years in prison for $15 million?
No way, even if you took away the prison part.
Posted by: Randy | October 08, 2006 at 08:14 PM
I wouldn't spend six HOURS in prison for $15 million. I doubt that, if push came to shove, I'd be willing to do six MINUTES. So six years is right out.
I've done the whole incarceration thing. For seven years, I couldn't see a cop in my home state without getting arrested and held overnight until a judge told me (again...) that my drivers license was _not_ in fact legally suspended and I was free to go. That life cost me incalculably...it's a miracle I made it out sane and got through my last probation intact, so I could move to a place where I'm not constantly living in a state of mortal terror.
I'd commit suicide rather than risk that again.
Posted by: Matt | October 10, 2006 at 05:36 AM
D...
I dont think he suggested that all or at least I didn't take away from this that you had to me a dog like Fastow...
Straight up, $15 million for 6-years of being in prison...
I would need more specifics myself...How many visits etc. etc. etc.
Posted by: rook | October 11, 2006 at 11:50 AM