Michael W. Berger
Year made public: 2000
Estimated Losses: $393 million
Manhattan Capital Management, started in 1996 by Michael W. Berger, lost $400 million. But according to SEC documents, Berger failed to report the losses to investors. Instead he masked them by doctoring financial data in clients' accounts. Berger pleaded guilty to securities fraud in federal court but fled before his sentencing in 2002. He was caught in Austria in 2007.
