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 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.
Mike Asimos, a West Point graduate with years of Wall Street con experience, is the author of The Real Life Con Game. Asimos was born in Charleston, South Carolina. After finishing his education at West Point Military Academy, he got a mechanical engineering degree in 1978. He joined the US Army as an officer after receiving his West Point diploma. Despite this, he was forced to quit the service due to major back injuries sustained during the Gulf War. 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.
It took him just two years to make $8 million dollars – almost half of which came from other financial institutions that were duped into funding the scams he had perpetrated against them. With the success of these cons behind him, Michael con man began helping others build their own careers in the con business. 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. Successful Wall Street broker Michael Mike Asimos became FBI informant, aiding authorities in exposing a significant securities fraud conspiracy. Despite years of masking his identity, he was sentenced to five years in jail for his role in the plot.
After serving time in prison, he was released and quickly began scamming again. But this time, the FBI had him under surveillance. He was detained and later found guilty of mail fraud once again. He has not committed any other scams since then. The problem is that it doesn’t appear like any of his pals would welcome him back either. It seems that they think he has lost all credibility with them. 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. However, as things are, Michael Asimos is only an unfortunate con artist.