Release the tape.
What tape?
Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
171–180 of 338 posts
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#172What about the previous CEO of Alameda, Sam Trabucco? Caroline only took over recently, I haven't heard anything about his legal standing at this point.
I think Sam Trabucco of FTX is going to be like Lou Pai of Enron. If you resign at exactly the right time and put some distance between you and the fraud, you can get away with it and ride off into the sunset.
https://www.npr.org/templates/story/story.php?storyId=541142...
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#173This was inevitable. All their money and reputation is gone. They stand to face many decades in prison. What choice do they have. Anyone who engages in financial fraud should prepare for all their friends to rat them out. There are no friends.
>decades in prison
Something tells me they'll be okay. Just look at Liz Holmes of Theranos.
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#174Earlier quoted context omitted.
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.
That doesn't make any sense, everyone on the receiving end of these threats has a lawyer. Even the shittiest public defender will translate this for you.
These numbers exist solely for the audiences at home.
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#175This was inevitable. All their money and reputation is gone. They stand to face many decades in prison. What choice do they have. Anyone who engages in financial fraud should prepare for all their friends to rat them out. There are no friends.
>decades in prison Something tells me they'll be okay. Just look at Liz Holmes of Theranos.
She 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.
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#176Earlier 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.
> The "maximum" sentence here isn't even a theoretical maximum;
Yes, it is.
> 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.
Which is, in fact, the theoretical maximum, because while the Sentencing Guidelines call for grouping and concurrent sentences in certain circumstances, the Supreme Court has ruled that the Guidelines are, as the name suggests, more what you'd call “guidelines” than actual rules, and judges are free to depart from them, in either direction, within the mininimum and maximum sentences, if any [0], prescribed for each crime in its own statute.
It’s true that most sentences will conform to the Guidelines, but the Guidelines rules do not set outer boundaries on what is possible.
[0] some crimes have statutory minimums, most have statutory maximums, but some federal crimes specify only imprisonment for “any term of years”.
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#177Earlier quoted context omitted.
What disqualifies him as being cryptobro?
Many things. But for one, he lobbied for a future where individuals would no longer legally be able to use blockchains directly or build businesses on them (aside from pure direct person-to-person payments). Doesn't get much less "cryptobro" than lobbying against people being able to use blockchains.
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Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#178Release the tape.
If you’re talking about the tape I think you’re talking about, please please please don’t release the tape. Ever.
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#179SEC Complaint with more details. https://www.sec.gov/news/press-release/2022-234 I have read more SEC complaints this year than in all of my previous years combined. —- Edit 1 Caroline’s guilty plea: https://www.documentcloud.org/documents/23495436-crypto-coop...
Interesting: On page 4, there's a section listing out the crimes she will not be further prosecuted for. As you'd expect this includes the 7 counts listed earlier, but there's also an 8th section that's been redacted. Any ideas on what this could be referring to?
Wait, so she won't be prosecuted despite pleading guilty? Or how does this work?
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#180It's hard for me to fathom being so privileged and then essentially throwing away your life. I have no idea what they were thinking.
It's what happens when smart, privileged people abuse uppers. Rather than break into a truck to steal tools they just go on white collar crime sprees.
A lot of these millenial/Gen-Z types are diagnosed with ADHD and are 100% abusing Dextroamphetamine.