Sonny Bloch
Irwin H. "Sonny" Bloch was a popular American financial talk radio show host from 1980 to 1995 who defrauded investors of more than $24 million.[1] He died of cancer in 1998 at the age of 61.[2]
Career
Sonny Bloch was a lounge singer who dovetailed his career into a fifteen-year career as a financial talk radio host heard on over 170 stations in the U.S including WOR-AM and WMCA-AM in New York City.[1][3]
The Sonny Bloch Show featured such prominent guests as Chemical Bank's Irwin Kellner and Federal Reserve Chairman Alan Greenspan.[4]
Fraud schemes
Bloch, his son, and associates had allegedly been involved in a variety of investment fraud schemes.[5]
One scheme sold interest in gold bars that were actually painted ordinary metal bars. Many of his investment recommendations caused his listeners to lose millions of dollars because the true financial viability of the schemes were improperly hidden from investors.[5]
Many of the investment scheme's backers paid to appear on the Sonny Bloch Show and conspired with Bloch to hide the fact that many of these involved companies that were already failing.[2][6][5]
One scheme solicited paid "memberships" with the proceeds used to pay for the purchase of a group of radio stations in Florida and Connecticut.[1][5]
Another pivotal scheme for which Bloch was indicted involved the sale of unregistered shares over the radio, which is illegal.[6]
Later in his rater radio career, allegedly illegitimate Wireless Cable investment schemes were heavily promoted on his radio show.[7][5]
Bloch was also indicted for tax evasion.[5]
Flight from prosecution
Shortly after the indictments Bloch fled to the Dominican Republic in 1995 where his wife owned property.[3]
Incarceration and death
Bloch was captured and deported back to the U.S. in 1995.[8] He pled guilty to seven counts of tax evasion and perjury. After serving two years in federal custody, Bloch was found to be in the advanced stages of cancer. He was allowed to return home and died in 1998.[1][9]
References
- ^ a b c d "Sonny Bloch profile at". Radioyears.com. Retrieved 2011-10-17.
- ^ a b "Sonny Bloch profile". Supersizeyourincome.com. Retrieved 2011-10-17.
- ^ a b Goldiner, Dave (1998-07-12). "Sonny Bloch, Radio Host Convicted In Scam, Dies". Articles.nydailynews.com. Retrieved 2011-10-17.
- ^ "Sonny Bloch's betrayal of trust: rip-off artists exploit legitimate media to build credibility and steal millions". Highbeam.com. Retrieved 2011-10-17.
- ^ a b c d e f "Bloch Admits Lying to Investors". Articles.latimes.com. 1996-09-19. Retrieved 2011-10-17.
- ^ a b "A Critical Review of Sonny Bloch". Programcritique.com. 2007-08-22. Retrieved 2011-10-17.
- ^ "Sonny Bloch Radio Show Host Charged with Fraud". Nytimes.com. 1995-05-26. Retrieved 2011-10-17.
- ^ Friday, May 26, 1995 (1995-05-26). "Exclusive . . . Bloch Captured". Time.com. Retrieved 2011-10-17.
{{cite web}}: CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link) - ^ "Irwin (Sonny) Bloch, 61, Dies; Bilked Radio Show Listeners". Nytimes.com. 1998-07-12. Retrieved 2011-10-17.