Fraudster Returns Home After Trump Commutes 835-Year Term
- Sentence believed to be longest-ever for white-collar crime
- Sholam Weiss convicted in fraud that led to insurer’s collapse
President Donald Trump speaks during a farewell ceremony at Joint Base Andrews, Maryland on Jan. 20.
Photographer: Stefani Reynolds/BloombergThis article is for subscribers only.
Former New York businessman Sholam Weiss returned home to his family after Donald Trump commuted his 835-year sentence, believed to be the longest ever imposed on a white-collar criminal.
Weiss, 66, was sentenced in 2000 in federal court in Orlando, Florida, after being convicted on charges stemming from his role in a series of complex financial frauds that resulted in the collapse of the National Heritage Life Insurance Co. In commuting Weiss’s prison term, which was previously reduced from the original 845 years, Trump noted that Weiss suffers from “chronic health conditions.”