Jerome Mayne:
Life Saving Lessons from a White Collar Criminal
Biographical Background
After working as a mortgage loan officer at Norwest Mortgage (now Wells Fargo), then starting his own mortgage brokerage company, Jerome Mayne was living the America dream. With a big corner office, half a dozen loan officers, dozens of lenders, respect in the mortgage community, a $10,000 monthly salary, a home on a cul-de-sac, a Mercedes-Benz, and huge potential for growth, Mayne had success and fortune on his horizon. That is, until he was indicted in December 1998 by federal prosecutors and charged with conspiracy to commit mail fraud, wire fraud and money laundering — crimes that took place four years earlier during his employment at Norwest Mortgage. After ultimately pleading guilty to mortgage fraud offenses, Mayne was sentenced to 21 months in prison.
For the next two years, Mayne was federal inmate number 08657-041. Upon his release from prison, Mayne’s life was forever changed. “To most of my business partners and employees, I became the guy they didn’t want to be associated with anymore. To my family and friends, I was now the son, brother or friend they thought they knew. To any potential employer, I was a felon, an ex-convict,” Mayne says.
Presentation by Jerome Mayne (and Hank Shea)
With the assistance of former Assistant U.S. Attorney Hank Shea, Jerome Mayne reveals his journey down a path that led to fraud and crime and dire consequences. What is special about Mayne’s presentation is his ability to tell his story from the perspective of an insider. He does more than just relay the facts and chronology of events that led up to his indictment — he gives the audience a glimpse into the mind of a white collar criminal. Beginning with how he incrementally justified his wrongful conduct, to his feeling like a victim during his prosecution, to how he came to acknowledge his wrongdoing, Mayne’s presentation is personal and revealing. He is willing to show his vulnerability and insecurities, and audiences connect with him. At the same time, Shea, a long-time federal prosecutor, keeps Mayne focused and honest by pointing out the government’s view of his role in mortgage fraud and the impact of his crimes on his victims.
Lessons to be Learned from Mayne
Mayne’s story educates students and professionals alike on the importance of ethics in the business world. Mayne illustrates how seemingly small ethical compromises as a young professional can easily turn into illegal activity that will devastate your career and your life. He demonstrates that the “grey area” in business ethics is not very grey at all.
Ambition and determination for success are admirable traits in a young professional, but Mayne’s presentation demonstrates how an obsession with success can lead to one’s demise.
To schedule a presentation with Hank Shea and Jerome Mayne, please contact: hjshea@stthomas.edu.
- Link: Jerome Mayne's website
“Few speakers can engage the audience like Jerome Mayne did. Several weeks after the event, students are still talking about it! He drew the audience in by using descriptions that helped us identify with him, and see the events through the perspective of a white collar criminal. It was excellent!”
—Student reaction; University of St. Thomas School of Law
