What good is having lots and lots of money if you can't show it off from time to time?
Fancy cars, opulent homes, maybe a mega-yacht — those are all nice. But there's no better way to show you really have money to burn than a giant, over-the-top party. Celebrity entertainment, an iconic location, hundreds of your closest friends — yeah, that'll do it.
That's apparently what David Brooks was thinking when it came time to celebrate his daughter's bat mitzvah in 2005. Nothing was too good for 13-year-old Elizabeth. So David rented out New York City's famed Rainbow Room, and hired Aerosmith, Tom Petty, 50 Cent, The Eagles and Kenny G.
How could Brooks possibly afford the rumored $10 million it cost to stage the so-called "Mitzvahpalooza"? Turned out he was running a massive fraud at his company that sold defective body armor to the U.S. Department of Defense. Today, Brooks is serving a 17-year prison sentence for conspiracy, fraud and obstruction of justice.
He also joins a long list of corporate crooks whose hearty parties came back to haunt them big time.