| Crime |

Miami Scammer's Possible 400-Year Sentence Makes Madoff's Seem Light

Bernie Madoff is facing 150 years in prison, but that's nothing compared to the 400-year sentence that could await former Miami businessman Edward Hugh Okun.
Keep New Times Free
I Support
  • Local
  • Community
  • Journalism
  • logo

Support the independent voice of Miami and help keep the future of New Times free.

Not much ink has been spilled locally about Okun, but we'll bring you up to speed. At some point, Okun, now in his late 50s, met Simone Bolani, a 29-year-old Miami Beach beauty salon owner. Together they lived a lavish lifestyle that included four mansions, a helicopter, three airplanes, 20 automobiles, and a megayacht. When it came time for Okun to divorce Bolani, he needed about $6 million to send her on her way. 

Problem is he didn't have the money; he actually didn't have much of his own money at all and had been scamming investors through his Richmond, Virginia-based company to fuel his lifestyle. He tricked hundreds out of a total of $126 million. 

He was convicted on 23 counts in a Virginia court this past March, and when he faces his sentencing in August, he could wind up with 400 years in jail. 

Keep Miami New Times Free... Since we started Miami New Times, it has been defined as the free, independent voice of Miami, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Miami with no paywalls.

We use cookies to collect and analyze information on site performance and usage, and to enhance and customize content and advertisements. By clicking 'X' or continuing to use the site, you agree to allow cookies to be placed. To find out more, visit our cookies policy and our privacy policy.


Join the New Times community and help support independent local journalism in Miami.


Join the New Times community and help support independent local journalism in Miami.