He was heard on CNN 1190 in the Dallas, TX marketplace. His topic – real estate investment strategies. What folks apparently did not hear was “the rest of the story.” It seems that, now former Dallas radio host, Clifford Wayne Robertson, 43, pleaded guilty to charges of bank fraud.
The original indictment alleged that Robertson admitted to using the identity of another person to send fraudulent personal financial statements to a lending institution, the U.S. Attorney’s Office alleged. He submitted the statement to obtain money under false pretenses, prosecutors said in a statement.
The loss caused by his actions is estimated to be in the $3 million range.
Robertson was indicted by a federal grand jury on Sept. 10, 2009. He faces a maximum sentence of up to 32 years in prison. A sentencing date is still to be determined.
COMMENTS: Since there are three components to the commission of a white collar crime like this – NEED, OPPORTUNITY and RATIONALIZATION – the question is, first, what motivated Robertson to commit such a fraud? And, equally as important, how could he rationalize that statements issued under false pretenses would be O.K.?
I’m interested in your thoughts.
As a business ethics speaker and author, I know what Robertson is facing. I, too, faced federal prison for crimes committed in the ’80’s. Speaking from experience, the consequences of fraudulent actions are no fun. And, the higher your profile the more likely you are to receive a more severe sentence – just ask Bernie Madoff.
If you have insight into what Robertson might have been thinking…feel free to share.