In Minneapolis, businessman Tom Petters was recently convicted of running a $3.5 Billion ponzi scheme. He was a high flyer with a huge presence in the Twin Cities business community. What is interesting about this scheme is that Petters was attempting to pay off all of his debtors by leveraging legitimate businesses such as Sun Country Airlines and Poloroid. But the mountain was simply too high, and then the roof collapsed. One of his key employees turned Petters in and the rest is history. Today in the Pioneer Press, writer John Welbes quotes Hank Shea, a former federal prosecuter and teaches at the University of St Thomas Law School states:
White-collar criminals normally start out with minor transgressions and then progress to more serious crimes. “Don’t be focused on whether you can walk up to the edge” of what is legal.
Yes, the edge of what’s legal is a slippery slope. It’s a finite spot that too many people and businesses explore, only to find themselves unable to pull back from its magnetic force. It’s a spot where some venture in search of a competitive advantage, often with toxic consequences. It’s a spot where many problems become intentionally silenced, creating the long lasting risk of the silent problem phenomenon.
Bottom Line: Be wary of the “edge of what’s legal.” It’s often a trap.
