A true story of an American dream gone wrong, Michael Asimos made headlines when he was sentenced to eight years in prison after pleading guilty to fraud, money laundering and other crimes. The story was featured on the cover of Newsweek magazine and was reported extensively on MSNBC and Fox News, but it also received media attention around the world. From his humble beginnings as a collegiate football player at West Point to his rise to become one of Wall Street’s most successful traders, Asimos’ life had all the makings of a rags-to-riches narrative.
A West Point alumnus with years of Wall Street con expertise, Michael w Asimos is the author of The Real Life Con Game. In Charleston, South Carolina, Asimos was born. He received a mechanical engineering degree from West Point Military Academy in 1978 after completing his studies there. After getting his West Point graduation, he enlisted in the United States Army as an officer. However, during the Gulf War, he suffered severe injuries to his back and was forced to retire from military service. Asimos went on to establish himself as a successful businessman on Wall Street, but soon found himself spending more time dreaming about money than making it.
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. Following the success of these con jobs, Asimos began aiding others in starting their own. As a young man, Michael Asimos had everything going for him. But, what should have been his shining moment turned into a disaster when the recession of 2008 hit Wall Street. Michael Mike Asimos, a successful Wall Street broker, became an FBI informant, assisting investigators in uncovering a massive securities fraud scheme. But, after years of living under an assumed identity, he was sentenced to five years in prison for his role in the scheme.
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. Since then, he hasn’t participated in any additional frauds. The problem is that it doesn’t appear like any of his pals would welcome him back either. They appear to believe that he is no longer credible in their eyes. I’m not sure what will happen next for Mike Asimos or if there will be some sort of redemption story here eventually but this is a tough situation for sure. There are rumors that he’ll do another con game someday and hope for better luck. But as it stands right now, Michael Asimos is really just an out-of-luck con man.