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United States sells Wu-Tang album forfeited by Martin Shkreli

justice.gov

51–60 of 117 posts

Re: United States sells Wu-Tang album forfeited by Martin Shkreli

#51
post #35

Earlier quoted context omitted.

Never threaten a Clinton (I anticipate downvotes.. and they'll be reinforcing my position that they're off-limits)

This is getting downvotes, but it is true Shkreli got his bail revoked for offering $5000 for every strand of hair collected from HRC.

If putting a bounty to harass a person is not a crime it absolutely should be IMHO

The day he started that he should be put in jail regardless of being on bail

Re: United States sells Wu-Tang album forfeited by Martin Shkreli

#52
post #14

Earlier quoted context omitted.

As much as this guy may deserve it, I don't think we should be celebrating the idea that if the government has an axe to grind with you, they'll find a way to destroy your life.

This is one reason why government should be as small and do as little as possible.

Or have checks and balances.

Re: United States sells Wu-Tang album forfeited by Martin Shkreli

#53

Earlier quoted context omitted.

He committed pretty egregious financial crimes. They didn't have to "dig" far. People do understand that most people aren't hiding major felonies or securities fraud, right? Most of us aren't evading taxes. We aren't running ponzi schemes. We aren't defrauding lenders. You can scrutinize the situation of the vast majority of people and come up with nothing beyond maybe a tag taken off a mattress (har). Somehow in the…

The "financial crimes" seem to have no victims since none of his investors actually sued him. If he really defrauded them, as the government claims in their successful lawsuit and conviction, then I'm pretty sure they would have sued him also. Why haven't his allegedly defrauded investors sued him? BTW, let me quote one of his investors, Lindsay Rosenwald: Rosenwald testified that in 2012, Shkreli told him he was win…

Many ponzi scheme fraudsters roll over the dwindling investments, hoping to hit the big payday that lets them fulfill the promised returns to the investors. Unlike most, Shkreli got very lucky and found a successful exit.

Re: United States sells Wu-Tang album forfeited by Martin Shkreli

#54
post #38

Was this sold in a fair auction? How much was it sold for? The memo says > his payment of the forfeiture is now complete for the 7.4m owed, so was it sold for more? Or was it the first buyer to show up with that amount?

> The contract of sale contains a confidentiality provision that protects information relating to the buyer and price.

Re: United States sells Wu-Tang album forfeited by Martin Shkreli

#55

Earlier quoted context omitted.

He committed pretty egregious financial crimes. They didn't have to "dig" far. People do understand that most people aren't hiding major felonies or securities fraud, right? Most of us aren't evading taxes. We aren't running ponzi schemes. We aren't defrauding lenders. You can scrutinize the situation of the vast majority of people and come up with nothing beyond maybe a tag taken off a mattress (har). Somehow in the…

The "financial crimes" seem to have no victims since none of his investors actually sued him. If he really defrauded them, as the government claims in their successful lawsuit and conviction, then I'm pretty sure they would have sued him also. Why haven't his allegedly defrauded investors sued him? BTW, let me quote one of his investors, Lindsay Rosenwald: Rosenwald testified that in 2012, Shkreli told him he was win…

>The "financial crimes" seem to have no victims since none of his investors actually sued him

They were overt, literal, indisputable financial crimes. Not sure why you decided to scare-quote that.

Making someone you defrauded whole again doesn't erase the crime. The notion that it would is ludicrous.

>I guess in this Cancel Culture era

Give it a rest.

There is a truth that if you are a criminal you probably shouldn't draw attention to yourself. If you're a drug dealer, don't wear a bunch of jewellery and drive a unique car. If you're someone running a ponzi scheme, don't be a public troll, desperately seeking attention.

Re: United States sells Wu-Tang album forfeited by Martin Shkreli

#56
post #44
post #19

Earlier quoted context omitted.

It'd be great if the government more regularly caught, prosecuted, and convicted people at this level of criminality. Otherwise the entire society collapses under the weight of abject corruption, because prosecution is a selective enforcement tool used at the whim of corrupt politicians, rather than an automatic mechanism that operates independently.

There is no automatic mechanism that operates independently. The prosecution, defense and judiciary are not GPT-3 robots that can mine through centuries of case law in 2 seconds to achieve a perfectly balanced decision. If you want regular prosecution of white-collar crimes, you may want to support better funding for these agencies, so they can actually put resources behind investigating and trying cases where crimin…

>"you may want to support better funding for these agencies, so they can actually put resources behind investigating and trying cases where criminality occurs. "

I don't think people realize just how much of law and regulatory enforcement is dependent on "who knows who" in the white collar world. A lot of investigations are discretionary and it is surprisingly easy for prosecutors to simply not address something. Would more funding help? I'm sure it would have some impact. But if Martin Shkreli was a big time political donor I suspect things would have turned out differently.

Re: United States sells Wu-Tang album forfeited by Martin Shkreli

#57

I love how the government dug through the guy's entire life just to find something they could nab him on and straight up destroyed him. That's some G stuff!

Yes, our federal government does act like gangsters. So awesome!

Re: United States sells Wu-Tang album forfeited by Martin Shkreli

#59

I remember learning about this album because it was the request with the highest bounty on What.CD: https://www.reddit.com/r/trackers/comments/5abmpz/martin_shk... R.I.P. What.CD. :'(

FWIW... It still is the album with the highest bounty on redacted

I gave up on private trackers after what.cd died. Has redacted surpassed what.cd?

Re: United States sells Wu-Tang album forfeited by Martin Shkreli

#60
post #44
post #19

Earlier quoted context omitted.

It'd be great if the government more regularly caught, prosecuted, and convicted people at this level of criminality. Otherwise the entire society collapses under the weight of abject corruption, because prosecution is a selective enforcement tool used at the whim of corrupt politicians, rather than an automatic mechanism that operates independently.

There is no automatic mechanism that operates independently. The prosecution, defense and judiciary are not GPT-3 robots that can mine through centuries of case law in 2 seconds to achieve a perfectly balanced decision. If you want regular prosecution of white-collar crimes, you may want to support better funding for these agencies, so they can actually put resources behind investigating and trying cases where crimin…

> automatic mechanism that operates independently

Yes, but I think this is more metaphorical than literal. Of course there aren't literal automatic robots doing the work of rooting out corruption; it's a goal.

I would argue that a high-functioning justice system should appear as close to automatic as possible, in order to most effectively create a sense of "if I do wrong, I know that I will be punished" rather than "if I do wrong, I need to figure out how to get around the law."

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