Wednesday, November 25, 2009

Not exactly Madoff

A lot of people are referring to Joseph Forte as Delaware County’s version of Bernard Madoff. Hardly.

Forte doesn’t even amount to mini-Madoff, the man who swindled New York’s elite out of several not-so-small fortunes. He’s a wannabe.

Forte, a Broomall money manager so craved acceptance among the elite class he wanted to run with, he concocted a fantasy investment world in which he took their money and promised fabulous returns.

Except the fantasy was a lie. And it turned into a nightmare for those who entrusted their life savings to Forte.

Forte was in federal court yesterday, where he was sentenced to 15 years in prison and ordered to make restitution of $35 million.

He’s got a pretty good shot at the 15 years. He has almost no prayer of returning the money.

Also in court were many of his victims, people who befriended him, who trusted him, who never thought twice about turning over millions to him.

They told powerful stories of lives turned upside down.

Forte yearned to be part of their circle. For a few years, he was. Then it all came crashing down.

Now he’ll be joining another circle of friends. They’re called federal prisoners.

And his victims are in a prison of their own, a prison of dashed dreams and financial ruin, all due to their wannabe “friend.”

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