Cover image for The scorpion and the frog : high times and high crimes
Title:
The scorpion and the frog : high times and high crimes
Author:
Lauria, Salvatore, 1962-
Personal Author:
Publication Information:
Beverly Hills, Calif. : New Millennium Press, [2003]

©2003
Physical Description:
xii, 274 pages ; 24 cm
Language:
English
Added Author:
ISBN:
9781893224261
Format :
Book

Available:*

Library
Call Number
Material Type
Home Location
Status
Central Library HV6769 .L38 2003 Adult Non-Fiction Non-Fiction Area
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Summary

Summary

A former broker reveals how his greed and ambition propelled him head-on into the corrupt underworld of Wall Street in the 1990s--a world riddled with stock manipulation, fraud, and even organized crime. Exposing himself and his family to danger and betrayal, Ripelli was repeatedly stung by the Scorpions as he fought to keep his business and wealth.


Reviews 1

Publisher's Weekly Review

Lauria was a Brooklyn tile layer turned stockbroker whose instincts for crime and appetite for the good life circa 1995 earned him $2,000 Ermenegildo Zegna suits and trips to St. Tropez. Eventually, as this insider memoir details, his instincts also earned him jail time for his role in masterminding one of the biggest stock swindles to date-a $40 million stock con that brought down two firms, White Rock and State Street, and eventually led to his indictment as well as to that of members of the Bonnano, Genovese and Colombo crime families. A native of Sicily, Lauria discovers his "entrepreneurial spirit" as a Long Island teenager, developing "a multi-tiered marketing program for marijuana" in high school. Offered a chance to be a "cold caller" at a mid-level brokerage firm, Lauria quickly moves onward and upward, taking readers along for the ride as he puts together a "pump and dump" stock-manipulation scheme: his firm secretly acquired control of securities in the name of offshore companies, artificially inflated the price by selling stock to investors in return for undisclosed cash payments, then sold the inflated stocks and deposited the profits in offshore accounts. The book's real drama comes when Lauria turns to old mob friends for help with keeping his scheme alive, which leads to "brutal mob intimidation and retaliation tactics" used against some stock brokers, while the Feds start to pursue Lauria's stock scams. He argues that, at the time, no brokerage house on Wall Street was completely clean, because the "pump and dump" profits were too much to keep away the mob. While the book is too long, Lauria's overall entertaining combination of elements from the film Wall Street and The Sopranos could receive an eager reception by the many people who currently conflate Wall Street and crime-that is, a lot of Americans. 100,000 first printing; $100,000 ad/promo. (Oct.) (c) Copyright PWxyz, LLC. All rights reserved


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