White Collar Crime, Without The Collar

Photo: Bloomberg via Getty Images

Most financial criminals attempt to look dignified during their perp walks. Bernie Madoff wore a suit on his big day, as did Matthew Tannin and Ralph Cioffi, and even Marc Dreier (although the accompanying stubble and crazy hair in that case somewhat lessened the effect). But the gang arrested as part of the SEC and FBI’s big insider-trading sting on Raj Rajaratnam’s hedge fund the Galleon Group is so far doing little justice to the term “white collar” crime. Specifically, the collar part. Prosecutors said yesterday that those in the ring had taken a page from the handbook of drug dealers, and this appears to extend to their sartorial choices, as well. Looking at these track-and-sweat-suit wearing criminals, we have to ask: Is there no decorum in insider trading anymore? Check out our slideshow, and we’ll sure you’ll come to the same conclusion. Whether or not these guys are guilty of actual crime, they’re at least guilty of crimes of fashion.