Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF • Hacker News Board

Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF

#331

Post by knorker » Fri, Dec 23, 2022, 10:30 PM UTC

benjaminwootton wrote: post #231

Having scanned the documents, I can imagine a dynamic where Ellison was the CEO, but SBF was really pulling the strings. I bet many companies are like that, where investors or a chairman are the real decision maker and the CEO is managing downwards only. Especially when you have a complex corporate setup where you are told to request funds and resources from a parent org etc. If I am in a C-level position again I wou…

Yeah, how much would you really lose sight of a multi billion dollar business you own 90% of?

(at least I read that it was 90%)

Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF

#332

Post by TotoHorner » Sat, Dec 24, 2022, 12:37 AM UTC

HWR_14 wrote: post #317

TotoHorner wrote: post #313

Earlier quoted context omitted.

The question is around Economics Professors and their effects on society and how well-connected they tend to be. Many Econ professors at business schools are former bankers. Many bankers are former Econ profs (banks have a ton of staff in research roles). You’ve changed the argument to… i don’t even know? The question is whether Economics Professors are influential outside of academia and if they’re well connected. T…

Some business school professors are accomplished former businessmen. Some are just lifelong academics. The ones with power are because of their non-professor credentials and connections. Schools, business schools especially, like to hire influential people as professors. So there are many powerful professors. But that's not why they are powerful. Since that's not why they are powerful, there's no reason to bring it u…

Again, wrong.

Reread the thread to see why.

Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF

#333

Post by _kbh_ » Sat, Dec 24, 2022, 1:13 AM UTC

throwoutway wrote: post #326

landemva wrote: post #290

Earlier quoted context omitted.

They will all get deals to avoid trial because nobody in power wants to dig into political donations or possibly even money laundering from US funds that went to Ukraine with some of it stolen and washed through FTX.

> money laundering from US funds that went to Ukraine with some of it stolen and washed through FTX. Source? Isn’t this just a theory with no evidence?

It’s not even a theory it’s Russian propaganda.

Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF

#334

Post by 1vuio0pswjnm7 » Sat, Dec 24, 2022, 6:11 PM UTC

mookerific wrote: post #309

1vuio0pswjnm7 wrote: post #193

There is a good chance SBF will be released on bail so he does not have to spend time in detention in NYC. The charges against him are all nonviolent crimes. The question I have is if the judge releases him from custody, "Will SBF do more interviews?" Lots of people are speculating on sentencing, some are comparing SBF to Holmes, but IMHO it's likely in this case he is going to plead guilty. Whatever comes out in a c…

A guilty plea in the criminal trial will be introduced at the civil trial as a per se admission of guilt. I'm not following your logic.

The statement refers to what happens if he does not plead guilty.

Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF

#335

Post by hgsgm » Sat, Dec 24, 2022, 8:38 PM UTC

MrOwnPut wrote: post #228

allenbrunson wrote: post #198

Earlier quoted context omitted.

i'll take a crack at it: the act of accumulating a billion dollars is an anti-social act. billionaires should have been giving it away hand over fist long before that happened.

They own part of the company that is worth that much. They can't liquidate all their assets without harming the company, thus the livelihoods of their employees. Look at what they create, not only what they are worth. Also your charity endeavors are more effective with the compound interest of a billionaire vs a multi-millionaire.

[dead]

Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF

#336

Post by michaelcampbell » Sun, Dec 25, 2022, 5:20 PM UTC

fnands wrote: post #280

xxr wrote: post #226

They all could have just been basic rich people pulling $600k[0] a year at Jane Street, but they just couldn’t get enough. [0]This number is completely made up and betrays my total lack of knowledge about what finance people make.

As far as I understand they were making pretty good bank with Alameda doing crypto arbitrage. Could probably have been set for life just doing that. Human psychology is funny. Not content with being stinking rich in their 20's, they embarked on a massive fraud to get even richer. To give them the benefit of the doubt, I'm not sure they set out to commit fraud, just make money off suckers, but when the temptation pres…

> doing crypto arbitrage.

They were, but arbitrage can only last so long and theirs ran out. They were convinced of their own genius I think which is what got them on the FTX train.

Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF

#337

Post by random314 » Sun, Dec 25, 2022, 7:03 PM UTC

vkou wrote: post #296

random314 wrote: post #154

Earlier quoted context omitted.

It's difficult for me to see how Balwani was defrauding patients but Holmes wasn't.

His work was in operations, hers was in investor schmoozing.

She was doing both, including selling to Walgreens where the patient fraud happened.

Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF

#338

Post by fnands » Wed, Dec 28, 2022, 8:55 AM UTC

michaelcampbell wrote: post #336

fnands wrote: post #280

Earlier quoted context omitted.

As far as I understand they were making pretty good bank with Alameda doing crypto arbitrage. Could probably have been set for life just doing that. Human psychology is funny. Not content with being stinking rich in their 20's, they embarked on a massive fraud to get even richer. To give them the benefit of the doubt, I'm not sure they set out to commit fraud, just make money off suckers, but when the temptation pres…

> doing crypto arbitrage. They were, but arbitrage can only last so long and theirs ran out. They were convinced of their own genius I think which is what got them on the FTX train.

Agreed. I am just fascinated by the fact that they made an few million easily, and instead of rolling that into something productive they went for fraud.