I'd bet that many rich people would rather spend 4 years in prison than lose all of their assets, especially if the prison is one of those minimum-security summer camps the white collar criminals normally end up in.
>>Are you implying that being bankrupted is worse than going to prison?
He's getting both. And he's losing everything: money, status, possibly family, ability to get another decent job... So he might rather do 10 years in jail but return to what it had before.