Live data from Hacker News

SEC obtains final consent judgments against former FTX and Alameda executives

sec.gov

21–30 of 102 posts

Re: SEC obtains final consent judgments against former FTX and Alameda executives

#23
post #8

> Without denying the Commission’s allegations, Ellison, Wang, and Singh consented to the entry of final judgments, subject to court approval, in which they agreed to be permanently enjoined from violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and Section 17(a) of the Securities Act of 1933, and to 5-year conduct-based injunctions. Ellison also cons…

> That’s a really light sentence for someone who defrauded people out of billions I don't excuse anything that she did, but didn't 98% of investors get everything back with interest?

Investors? No. Customers? They were paid the cash value of their crypto holdings at the time of bankruptcy. Thanks to a massive bull run in crypto between bankruptcy and payout, customers were able to be paid back in “full” even with the fraud. However, when BTC is sitting at $60k and your missing BTC is being paid back at $17k, you’re not exactly going to be feeling giddy.

Re: SEC obtains final consent judgments against former FTX and Alameda executives

#24
post #6

Yes she cooperated and pleaded early, but damn, she got off easy compared to SBF.

Well running an investment firm into the ground is more legal than using deposited funds in an exchange to bail out an investment firm that is being run into the ground.

Re: SEC obtains final consent judgments against former FTX and Alameda executives

#25
post #6

Yes she cooperated and pleaded early, but damn, she got off easy compared to SBF.

Eh, I am pretty sure Trump is gonna end up pardoning SBF. It just seems like the sort of thing that is going to happen.

Does SBF still have money?

Re: SEC obtains final consent judgments against former FTX and Alameda executives

#26
post #6

Yes she cooperated and pleaded early, but damn, she got off easy compared to SBF.

Eh, I am pretty sure Trump is gonna end up pardoning SBF. It just seems like the sort of thing that is going to happen.

Not sure what he would gain from that. The crypto community largely backed him in the last election, and pardoning SBF would seriously piss them off.

Re: SEC obtains final consent judgments against former FTX and Alameda executives

#27
post #6

Yes she cooperated and pleaded early, but damn, she got off easy compared to SBF.

Well running an investment firm into the ground is more legal than using deposited funds in an exchange to bail out an investment firm that is being run into the ground.

She didn't just run Alameda to the ground. She knew Alameda was using FTX customer funds, which makes her directly complicit. She got off easy because of her cooperation and guilty plea.

Re: SEC obtains final consent judgments against former FTX and Alameda executives

#28

Earlier quoted context omitted.

Eh, I am pretty sure Trump is gonna end up pardoning SBF. It just seems like the sort of thing that is going to happen.

Not sure what he would gain from that. The crypto community largely backed him in the last election, and pardoning SBF would seriously piss them off.

> Not sure what he would gain from that.

What? It's a bribe, he gains money. He doesn't care about pissing anyone off, he's (probably) not running for reelection, he cares about money, it's really that simple.

Post reply on HN