Does anybody have the number for how much she will likely make off with ultimately ten years from now once everything settles?
Founder sentenced to seven years in prison for fraudulent sale to JPMorgan
181–190 of 366 posts
Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan
#182Former federal inmate here who was recently released from prison a month ago today (I did 18 months): The big deal here was the loss amount, which can be construed any number of ways whether we like it or not. This will jack up the points and tilt the scale for the sentencing guidelines, and believe me they are archaic. After all is said and done, Charlie Javice will be hanging out at a prison camp—probably down ther…
Reading about you a bit. Would you say I shouldn't go and try to create the replacement for Streameast?
Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan
#183Does anybody have the number for how much she will likely make off with ultimately ten years from now once everything settles?
I don't think she gets to keep the money - the prosecution claims she'll be "forced to pay over $300,000,000" in restitution.
Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan
#184Earlier quoted context omitted.
Back in the nineties, Philips was days away from signing a licensing deal for a revolutionary video compression technology that compressed whole movies down to 8KB. The former Philips CTO was a strong believer. And then the inventor died and nothing ever came of it. To be a fly on the wall during due diligence meetings between Philips engineers and management. https://lowendbox.com/blog/the-man-who-was-paid-e113000-f…
I came up with a similarly impressive compression scheme as a young teen, shortly after I started programming. It was beautiful in its simplicity. Take 5 bytes, compute a 4-byte checksum, and just store the checksum. After all the chances of a checksum collision is miniscule. When decompressing just iterate over all 5-byte values until you get the correct checksum. The fantastic feature was of course that you could a…
DOS International was a German magazine in the early nineties with excellent technical explanations and program listings. One of them was a super compressor that used your recursive technique. I didn't quite understand the details that were given in the description of the algorithm (I blamed my mediocre understanding of German), but it sounded legit.
So I spent a good hour to type in a page of impossible to follow C code with obscure numbers in lookup tables and all it did when I ran the program was to print out "April 1., April 1.".
Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan
#185What decides if a founder will get convicted or walk free like Adam Neumann did / Builder.ai guys did ?
Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan
#186>> A prosecutor, Micah Fergenson, though, said JPMorgan “didn’t get a functioning business” in exchange for its investment. “They acquired a crime scene.” I do not understand how an acquisition this big got thru due diligence without noticing all the fake users. Anyone in corporate M&A know if it is normal to spend this much money without inspecting the goods? Seems like the most basic of OLAP queries and two days of…
Back in the nineties, Philips was days away from signing a licensing deal for a revolutionary video compression technology that compressed whole movies down to 8KB. The former Philips CTO was a strong believer. And then the inventor died and nothing ever came of it. To be a fly on the wall during due diligence meetings between Philips engineers and management. https://lowendbox.com/blog/the-man-who-was-paid-e113000-f…
Perhaps you can help me; I can't find the original story of the following.
A similar scam was being demonstrated to transmit data wirelessly at a very high speed due to some fancy compression. The demo was between stations with a river in-between.
The investigators lifted the box and found an optical cable which was buried and went under the river.
Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan
#187Does anybody have the number for how much she will likely make off with ultimately ten years from now once everything settles?
I don't think she gets to keep the money - the prosecution claims she'll be "forced to pay over $300,000,000" in restitution.
Ignoring this posturing from the prosecution, what is the precedent?
Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan
#188>> A prosecutor, Micah Fergenson, though, said JPMorgan “didn’t get a functioning business” in exchange for its investment. “They acquired a crime scene.” I do not understand how an acquisition this big got thru due diligence without noticing all the fake users. Anyone in corporate M&A know if it is normal to spend this much money without inspecting the goods? Seems like the most basic of OLAP queries and two days of…
I remember when HP announced their plan to acquire Autonomy. I was very familiar with their tech and their status in the industry at the time and knew they were approaching irrelevance with no chance to boost sales of anything. They completed the deal anyway, which was followed by HP firing their CEO, lawsuits for misrepresenting their financial status and a complete writedown of the total acquisition cost. It seemed so obvious to me and my colleagues were doing integrations and software procurement and yet HP was completely blinded by everything besides their fabricated balance sheet.
Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan
#189Banks scamming people is fine and legal, but don’t you dare to scam banks, know your limits, peasant!!
Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan
#190Earlier quoted context omitted.
It seems like the effect of these college requirements is to teach ambitious young Americans that the way to get ahead is to cheat.
Unfortunately, it's an arms race of cheating. Everyone else was the president of 5 school clubs, volunteered at a soup kitchen and animal shelter for 2 years, tutored disadvantaged kids for 4 hours a day, was a varsity athlete in 3 sports, played the trombone in band, and won 10 academic awards... so everyone has to say that in order to at least seem like an average candidate to college admissions.
I dropped out and got my GED. I don't think there's one thing in my K-12 transcripts that would look good.
I was not exactly a valedictorian-level student.
Done a bunch of stuff, since then, but it's not right to throw onto LinkedIn. It's the kind of stuff we don't take credit for.