Will they never learn. Crime pays, to be sure, but not for long (via the Cleveland Plain Dealer):

BWC's financial chief lived in high style - Prison sentence now looms in wake of Gasper's guilty plea

Sunday, June 11, 2006
T.C. Brown and Sandy Theis
Plain Dealer Reporters

Terry Gasper lived the high life on a civil servant's salary. He financed his fine living through the generosity of others - brokers and dealers eager to feast at the in vestment trough he man aged at the Ohio Bureau of Workers' Com pensation. Overflowing with billions of dollars, it is one of the state's largest investment pools.

Those indebted to Gasper for lucrative state investment contracts gave him unfettered access to a luxurious $485,000 condo in the Florida Keys at the Coral Harbour Club, a condo complex with deep-water docks, a heated swimming pool, lighted tennis courts and an oceanfront Tiki hut.

They also wined and dined him at some of the top restaurants in Cleveland and Columbus. A marketer whom prosecutors have yet to identify provided $9,000 in college tuition for his son. And he got a $25,000 investment in a limited partnership and many thousands of dollars in meals, concert and sporting event tickets and other gifts.

But the good life came crashing down around Gasper's ears this past week, when the 59-year-old pleaded guilty in federal and state courts to racketeering, money laundering and ethics violations. Prosecutors estimate that Gasper's quid pro quo manner of doling out state investment business has cost taxpayers $20 million to $50 million...

Gasper is facing a potential 20 year prison sentence. More from the Plain Dealer here.

-- MDT

Labels: money laundering