Richard Altomare Jailhouse Vigil: Day Four
Nothing new to report. The ex-CEO of Universal Express remains in Metropolitan Correctional Center on civil contempt charges, having failed to pay back $1.7 million he looted from the company.
I'm still trying to figure out why he hasn't been indicted for doing that. It's been previously reported that he is under FBI investigation. What's the, pardon the expression, holdup?
Seems to be a waiting game here. Who will blink first: the vocal sergeant-at-arms of the stock market conspiracy nutcases of the Baloney Brigade (above), or the non-nonsense Judge Gerald Lynch (right)? I am sure hizzoner is really sweating this one. As you can see from the photo, he is clearly traumatized by the whole thing.
Actually that picture was taken to accompany a New York Times article on how Lynch allowed a suit to proceed against another naked short poster child, Global Crossing. So he obviously has a lot of experience with this genre of corporate wrongdoing, as evidenced by a recent court filing in which he referred to Universal Express shareholders as "deluded."
Meanwhile, I have some recipes on the uses that Altomare can put to his favorite smoked meat. Not sure if inmates have cooking facilities, but you never know.
I'm surprised that Altomare's successor as Baloney Brigade commander, Overstock.com's SEC-investigated CEO Patrick Byrne, hasn't spoken out against his fellow excusemongering CEO's incarceration. Surely he has the time, as indicated by his prodigious efforts as a full-time Wikipedia editor. Is there no loyalty among corporate miscreants?
© 2008 Gary Weiss. All rights reserved.