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Founder sentenced to seven years in prison for fraudulent sale to JPMorgan
321–330 of 366 posts
Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan
#322"In 2022, JPMorgan filed a lawsuit for fraud, claiming that the data reported by Frank was largely a fabrication and alleged that Javice paid a data science professor $18,000 for a list of more than four million fake student names to convince JPMorgan to purchase Frank."
How do you pay that much money to get synthetic data? What a racket. I wonder if the professor feels shame for their complicity here.
There is a specific distribution of names of people that is very hard to fake. Think all the different first names, last names, their spellings and common names. Generating that many realistic fake names that still match the distribution of real names is hard.
Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan
#323Earlier quoted context omitted.
Strong anti fraud rules (even for massive banks) are a foundational part of a high functioning society.
That remindes me of all those bank executives we jailed over their role in the 2008 financial crisis.
ah yes, so clearly we must make sure that they are even less enforced. what could go wrong? hell, Enron lost investors-- bunch of billionaire fat cats, the lot of 'em-- $75 billion... they shoulda made Kenneth Lay Chairman of the Fed! or i guess maybe he his net worth had one too many zeroes to be sympathetic... hell, Kawhi Leonhard and his uncle blatantly and deliberately broke all of the NBA salary cap rules in the way that an undercover cop asks everyone they come across if they can buy weed from them, but the Clippers are owned by Steve Ballmer, so it's apparently okay. we hate the player because of the game in everything except for sports lmao.
Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan
#324Earlier quoted context omitted.
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 sa…
The hardest bit of that Camp Bryan wiki is this disparity. Ruby Jane McMillan - part of a meth supply ring. Sentenced to 38 months, completed less than 2 years. Laurel Yurchick - had 50g of meth on her. Sentenced with intent to supply to 10years - not due for parole until 2029. So one was clearly higher in the supply chain yet got sentenced to a third of the time?
50g is quite a lot of meth, dozens and dozens of doses even at the heavier user quantities: https://www.medrxiv.org/content/10.1101/2025.05.09.25327334v...
That is almost certainly distribution as well. McMillan played a lesser part in this distribution ring; the two men involved were each sentenced to twelve years: https://www.justice.gov/usao-wdla/pr/monroe-men-sentenced-mo...
McMillan was involved in a group of three purchasing around a pound of meth. Yurchik was involved in a ring of 27 people in multiple states moving kilogram quantities over the course of two years: https://www.kxxv.com/news/local-news/central-texans-among-21...
The group also actively laundered its earnings though only half a dozen or so were charged for that. The feds seized seventy-two kg of meth from them, more than one hundred fifty times what this other lady was involved with, a kg of cocaine, a bunch of money, and more than a dozen firearms. These were not cases of radically unequal charging.
I don't know why you picked these two people but I get a little tired of folks presenting such a skewed view of any and everything to come up with "prison bad, judge bad, sentence bad".
Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan
#325Earlier quoted context omitted.
Was the scam that the codec had the raw video in it, so the "files" could be made trivially small?
I mean, that would work. It's going to be the reason AI video compression works; people are okay with an AI model being 1GB but they wouldn't put up with libavcodec being 1GB.
It's a valid codec move to have 1GB in the codec but to be able to compress arbitrary video with it, or even just arbitrary video within a certain specialized domain. Having those requirements will affect all the cost/benefit decisions that get made when people decide whether to use it, but if it outperforms on other metrics it may be something that wins in some places.
I believe lumost is referring to the actual video being used for testing being embedded in the codec. That is not a valid move; it compresses just that one exact video arbitrarily small (honestly anything above zero bytes is just sandbagging, you can always map the empty file to your test video, for INFINITE COMPRESSIONS!!!1!) but nothing else.
Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan
#326Earlier quoted context omitted.
who cares if he take accountability or not. he served his time.
His probation officer does as he has not done his full time. (Which is why the thread about it is now flagged)
You're mistaken ... it's the ad hominem attack on him that is flagged and dead.
Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan
#327Earlier 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…
[deleted]
Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan
#328Earlier quoted context omitted.
His probation officer does as he has not done his full time. (Which is why the thread about it is now flagged)
You're mistaken ... it's the ad hominem attack on him that is flagged and dead.
No. I mean that there was a full submission on him on HN front page this morning, that later was flagged out of concern, because he has in fact a probation officer that should maybe not see this.
Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan
#329Earlier quoted context omitted.
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 sa…
The hardest bit of that Camp Bryan wiki is this disparity. Ruby Jane McMillan - part of a meth supply ring. Sentenced to 38 months, completed less than 2 years. Laurel Yurchick - had 50g of meth on her. Sentenced with intent to supply to 10years - not due for parole until 2029. So one was clearly higher in the supply chain yet got sentenced to a third of the time?
> Yurchick was one of 21 people that had been indicted for conspiracy to possess with intent to distribute kilogram quantities of methamphetamine in Texas and elsewhere from August 2019 to March 2021 … Yurchick subsequently pleaded guilty to that charge on February 1, 2022
From https://en.m.wikipedia.org/wiki/Icy_Blu
Feel free to dig deeper, I’ve only taken a shallow look.
Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan
#330Earlier quoted context omitted.
Not really the same thing. Material misrepresentation of a business is blatant financial fraud. If you sell someone a yellow-painted piece of metal but you tell them it's solid gold, you're not bending the rules a little bit. You're just defrauding them.
classic article: Everything Everywhere is Securities Fraud. https://www.bloomberg.com/opinion/articles/2019-06-26/everyt...
Nice paywall.