Curious to see if they also strike a deal with Nishad Singh. He was the director of engineering at FTX that supposedly authored the code that exempted Alameda from liquidation.
Review your Pull Requests people!
Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
161–170 of 338 posts
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#162Earlier quoted context omitted.
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Well, this is the comment section of a HN topic that's specifically about Caroline Ellison and Gary Wang (their names are included in the title). If this were some random other thread, then yeah sure it would be confusing to just say Gary or Caroline.
I guess my question is, why the familiarity? Why not Ellison and Wang? The confusion stuff I shouldn't have included, it was extraneous. I'm just puzzled why we're speaking of them as if they were friends or treasured celebrities.
I don't mean that as a criticism either, I just feel like I missed a beat culturally.
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#163Earlier quoted context omitted.
Because there is an administration in power that is more willing to prioritize prosecuting financial crimes.
And the previous administration never prosecuted any financial crimes, especially not Elizabth Holmes, right? "In June 2018, Theranos announced that Holmes was stepping down as CEO. On the same day, the Department of Justice announced that a federal grand jury had charged Holmes, along with Balwani, with nine counts of wire fraud and two counts of conspiracy to commit wire fraud." [0] [0] https://www.businessinsider.…
In 2018, Elizabeth Holmes has the misfortune of having multiple cabinet members, Presidental ally Rupert Murdoch and Republican stalwarts like Kissinger and former Senators among her defrauded investors. Other than Theranos there was little financial crime prosecution.
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#164I find the timing of the announcement somewhat interesting. Just right when SBF is en route to NY.
Good catch. I assume it was to mitigate the risk of him fighting the extradition or outright fleeing. If he had known their case was this strong, with his former colleagues flipping on him, I wonder if he would have agreed to be extradited or if he would have tried to delay it.
(Or maybe he already knew and it’s just a coincidence).
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#165Curious to see if they also strike a deal with Nishad Singh. He was the director of engineering at FTX that supposedly authored the code that exempted Alameda from liquidation.
How many deals do they need? I'm afraid of prosecutors cutting too many deals, being too lenient on the guilty, just to make their jobs easier - making practically certain cases 1% more certain in exchange for not punishing appropriately. I think it's good to get one or two insiders - Ellison and Wang seem ideal. Why does the state need more?
It depends on how lenient they are. Many times, deals just for pleading guilty are a thing, leaving conspiracies aside.
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#166Nothing here happened on a blockchain. If it had there wouldn't have been problems. This is a typical finance market scam.
No true crypto
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#167Earlier quoted context omitted.
Since both are talking, I assume their deal isn't that great. My understanding is that you only get those out-of-jail-free cards if there's no other way to convict and I don't see that being the case here in any way. On the other hand, great lawyers and connections might still make something out of it.
> On the other hand, great lawyers and connections might still make something out of it. That's my concern. Caroline's father is an MIT professor who was previously Gary Gensler's (head of SEC) boss. It would be extremely disheartening if Caroline gets an extremely generous plea deal due to her father's connections.
What is up with the conspiracy theories that professors are somehow politically powerful entities? Is everyone putting forth these theories still in college? Do they not know how little power college professors wield outside academia.
Personal connections to the head of the SEC on the other hand are valuable.
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#168Earlier quoted context omitted.
How many deals do they need? I'm afraid of prosecutors cutting too many deals, being too lenient on the guilty, just to make their jobs easier - making practically certain cases 1% more certain in exchange for not punishing appropriately. I think it's good to get one or two insiders - Ellison and Wang seem ideal. Why does the state need more?
It depends on how lenient they are. Many times, deals just for pleading guilty are a thing, leaving conspiracies aside.
That's also bad. Prosecutors hold a huge sentence over people and compel them to confess - it's a kind of hypothetical torture, forcing you to confess by the bad stuff they'll probably do to you.
Prosecutors, along with their investigators, should come to a position on whether a party is guilty and if so what punishment they deserve. They should then make that case in court. Courts would need much greater throughput to handle this, but the current method seems much worse.
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#169Earlier quoted context omitted.
110 years! I wonder how many she'll get out of that for being the first out of the woodwork.
The "maximum" sentence here isn't even a theoretical maximum; it's just what happens if you take the statutory limit on what could be sentenced in the worst possible combination of circumstances , and it assumes that charges don't group or get served concurrently. It's annoying that they cite this number at all, because it simply has no bearing as to how things get sentenced in reality.
It's how they make an intimidating threat to push for cooperation and look maximally generous when the sentence is reduced. Makes perfect sense.
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#170Earlier quoted context omitted.
prosecutors will accept a much smaller sentence Not sure what you mean there. The prosecution recommends a sentence to the judge. They are agreeing to recommend a shorter sentence than they would have if she fought. Judges (especially federal) are despots and don’t care at all about prosecutors or what prosecutors want. The judge will want to know exactly how much she blew on bad investments, how much she stole for h…
It means they won't do this. https://apnews.com/article/donald-trump-business-34deb7d885d... > Prosecutors urged a judge Wednesday to impose a “very substantial” prison sentence on Michael Avenatti for trying to extort millions of dollars from Nike. > Prosecutors noted in a Manhattan federal court submission that Probation Office officials recommend an eight-year prison term for the California attorney who gained fam…
Based on what is now known about how Trump wielded the IRS it may be worth looking into the motivation of these prosecutors.