Michael Asimos, who made headlines after pleading guilty to fraud, money laundering, and other felonies and was sentenced to eight years in prison, is a true story of the American dream gone wrong. The story was heavily covered by MSNBC and Fox News, featured on the cover of Newsweek, and was covered by media outlets all over the world. From his humble beginnings as a college football player at West Point to his rise as one of Wall Street’s most successful traders, Asimos’ life had all the elements of a rags-to-riches tale.
Mike Asimos, a West Point graduate with years of Wall Street con experience, is the author of The Real Life Con Game. In Charleston, South Carolina, Asimos was born. He studied at West Point Military Academy and graduated in 1978 with a degree in mechanical engineering. After graduating from West Point, he became an officer in the US Army. Though he was forced to leave the military after suffering serious back injuries during the Gulf War. Asimos went on to become a prosperous businessman on Wall Street, but he quickly discovered that he was spending more time daydreaming than really producing money.
He made $8 million in just two years, over half of which came from other financial institutions that he conned into backing his frauds against them. With the success of these cons behind him, Michael con man began helping others build their own careers in the con business. Michael Asimos had an excellent life as a young guy. But when the 2008 crisis hit Wall Street, what should have been his defining moment became a catastrophe. Successful Wall Street broker Michael Mike Asimos became FBI informant, aiding authorities in exposing a significant securities fraud conspiracy. He was nonetheless given a five-year prison term for his part in the conspiracy after years of hiding his identity.
After completing his term, he was released from prison and immediately began con artists. But this time, the FBI had him under surveillance. He was arrested and convicted of mail fraud for a second time. He has not committed any other scams since then. The thing is, it doesn’t seem like any of his friends want him back either. They appear to think he is no longer credible in their view. I’m not sure what Mike Asimos will do next or whether there will finally be a redemption tale in this, but there’s no doubt that this is a difficult position. It’s said that he’ll play another con game in the future and try his luck again. However, as things are, Michael Asimos is only an unfortunate con artist.