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Founder sentenced to seven years in prison for fraudulent sale to JPMorgan

cnn.com

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Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan

#251

Post by crossroadsguy »

joshmn wrote: post #159

Former 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…

> a prison camp

Is this different from a real/general prison? I mean does it have better facilities, space et cetera?

Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan

#253

Post by [deleted] »

crossroadsguy wrote: post #251
joshmn wrote: post #159

Former 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…

> a prison camp Is this different from a real/general prison? I mean does it have better facilities, space et cetera?

[deleted]

Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan

#254

Post by some_guy_nobel »

realitysballs wrote: post #249
thruway516 wrote: post #248

Earlier quoted context omitted.

> After all is said and done, Charlie Javice will be hanging out at a prison camp—probably down there with Holmes and Maxwell, because it's cushy—and do no more than 4 years I don't mind that outcome. She did not knowingly sell a product that could harm the public or abuse and traffic children, so it wouldn't be unfair or a travesty of justice like with those other two (especially that last one)

Agreed, hot take, but she defrauded a large corporate bank , big whoop if you ask me.

Have you ever heard of second-order effects?

Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan

#255

Post by petesergeant »

next_xibalba wrote: post #218
joshmn wrote: post #159

Former 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…

[flagged]

> it doesn’t really seem like you take accountability for your crimes.

from the blog:

> # Why the illicit digital transmission [charge]?

> I definitely did this.

Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan

#256

Post by Ifkaluva »

dboreham wrote: post #231
Aurornis wrote: post #88

Earlier quoted context omitted.

> I run a hybrid B2B and B2C consumer packaged good company. I have a few small investors. They know who my top clients are, because they ask in good faith, and I answer in good faith. Right, because it's easy to share your customer list when you have a small number of customers and they are repeat customers. Her company helped with student loans. Her customers were mostly one-time customers. The customer count was s…

Right but the privacy law excuse is nonsense. All such laws (possible exception of medical data) allow for 3rd parties to be "read in" on the data for legitimate purposes. Source: worked as a consultant for companies with private data for 20 years.

I seem to remember she actively forged accounts. Even funded a genAI project with a university professor on how to credibly forge accounts

Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan

#257

Post by MyOutfitIsVague »

realitysballs wrote: post #249
thruway516 wrote: post #248

Earlier quoted context omitted.

> After all is said and done, Charlie Javice will be hanging out at a prison camp—probably down there with Holmes and Maxwell, because it's cushy—and do no more than 4 years I don't mind that outcome. She did not knowingly sell a product that could harm the public or abuse and traffic children, so it wouldn't be unfair or a travesty of justice like with those other two (especially that last one)

Agreed, hot take, but she defrauded a large corporate bank , big whoop if you ask me.

I'm not sure I like the incentives that creates, though. If this is the precedent, then if you're committing financial fraud already you might as well go as big as possible, since there appears to be a cap on punishment.

Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan

#258

Post by vlovich123 »

bruce511 wrote: post #213
atombender wrote: post #195

Earlier quoted context omitted.

I had another hairbrained idea once. Let's say you want to compress the number 5384615385. Find two numbers x and y so that x/y equals some number whose decimal part is 5384615385. In this case, that's 7/13. So the compressed output is just 7 and 13, which could be encoded very succinctly, thus saving lots of storage space; and decompression is just multiplying numbers. Unfortunately, while the idea works for some in…

A variation on this would work, but alas we don't have the math tools as yet. The idea (not mine) is that you can think of data as "very large numbers". So a 4096 bit number is just a big number. Well, we have a short way to generate big numbers. x^y. So given a big number (say 800 000 bits) we could generate a (Hopefully short) expression of the form a^b + (or minus) c^d + ... etc. Unfortunately the "factorizing" (a…

Aside from the factorizing cost, I suspect decompression will also be prohibitively slow. Exponentiation, multiplication and addition such large range numbers could still end up prohibitively expensive.

Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan

#259

Post by throwaway2037 »

crossroadsguy wrote: post #251
joshmn wrote: post #159

Former 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…

> a prison camp Is this different from a real/general prison? I mean does it have better facilities, space et cetera?

This is a good question. I did Googling. Here is what I found:

From the US Federal Bureau of Prisons: https://www.bop.gov/about/facilities/federal_prisons.jsp

    > Minimum security institutions, also known as Federal Prison Camps (FPCs), have dormitory housing, a relatively low staff-to-inmate ratio, and limited or no perimeter fencing. These institutions are work- and program-oriented.
The Elizabeth Holmes Wiki page says she is staying here: Federal Prison Camp, Bryan (Texas).

Check out this Wiki quote: https://en.wikipedia.org/wiki/Federal_Prison_Camp,_Bryan

    > FPC Bryan along with FPC Lewisburg and FPC Lompoc have the lowest security rating of all the federal institutions, other than community corrections centers as those are known as halfway houses. Due to the low classification, most of these facilities have no fence and a low staff-to-inmate ratio.
No fence!

Oh, it looks like Ghislaine Maxwell (of Jeffrey Epstein fame/infamy) is also staying there.

Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan

#260

Post by troyvit »

fourseventy wrote: post #107
troyvit wrote: post #15

Earlier quoted context omitted.

I was about to go on a rant about, "Why is it ethical to put people in jail for doing things that only affect money? Was anybody at JPMorgan hurt as bad as jail will hurt this person?" But you already answered the question.

If I steal all your money I shouldn't go to jail?

I personally believe money crimes should have money punishments and corporal crimes could have corporal punishments. If you steal from me and go to jail how did I benefit? If you steal from me and I get a bunch of $ for pain and suffering and you get your pay docked for n years that seems good.
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