7 ms·
>decades in prison Something tells me they'll be okay. Just look at Liz Holmes of Theranos.
by DrFunke 4y ago
>decades in prison
Something tells me they'll be okay. Just look at Liz Holmes of Theranos.
- ffssffss 4y agoShe got 11 years of which she'll have to serve at least around 9 because it's federal, and that was for something that probably wasn't fraudulent from the very beginning. So, seems like they... won't be okay.
- shapefrog 4y agoShe got 11 years for not delivering 10x to the VC's. Just imagine what you would get for fucking with peoples health.
- 650REDHAIR 4y agoMy imagination is awful, but I’m guessing somewhere around 0 years.
- w1nst0nsm1th 4y agoAsk Sacler family members...
- LatteLazy 4y agoShe got 11 years for lying about her product in order to defraud people...
- orwin 4y agoAnd? Sorry but musk sold robot-taxi by 2020 and cheaper trucking by 2019. And precommands. I don't see any differences between the two. I admit I did look at thunderfoot's videos on musk and was convinced since 2019 he was a small conman. I don't understand how Holmes is any different.
- tyleo 4y agoLying about future products, “it will do X” is much different than lying about what you have in the market right now “it is doing X”. Elon engages in the first, Holmes in the second. I think, if Holmes merely went bankrupt because she couldn’t get to a functional product rather than releasing a product and knowingly lying about its capabilities, she’d be in much less hot water.
- xtracto 4y agoWell, we have to better define "people ". IIRC she was only found guilty of defrauding their rich/large investors, not the general population. It was her boyfriend who was found guilty of that. Now, regarding SBF, I can imagine there are some big wigs that had their money in there, not only nobodys like you and I. That's the only reason why I think they will get shafted.
- LatteLazy 4y agoI thought FTX was not fraudulent from the beginning. It only went that way when Alameda started losing cash (it was originally very profitable). When, instead of just letting it die, SBF decided to use customer money to save it (and also to pay himself and others bonuses and buy people free houses and other shit)?
- hnews_account_1 4y agoAll of crypto is a fraud in a literal sense because it is self referential and a zero sum game. But the regulators are not willing to face that question so the companies keep going. In that sense, the concept of a token created by you and traded largely by your firm being used as collateral for loans was incredibly fraudulent. The fact that the DoJ is acting only after the token fell and revealed that SBF used customer funds to rescue it, is either a strategy or an oversight. Same way they don’t want to touch Tether just yet even if it’s so obviously a fraud.
- DrFunke 4y agoShe's going to a prison that more resembles a country club (it has no fences or walls) There is no way she'll serve 9 years. She's appealing and the feds are extremely forgiving if you have great lawyers when it comes to white collar crime.
- ffssffss 4y agoWhat would be the appropriate prison, one where she lives in depravation and is regularly assaulted by guards and other inmates? Our prison system is deeply unjust and more people should be going to her kind of prison rather than vice versa by my view.
- DrFunke 4y agoI don't need your stump speech, thanks.