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SEC Charges Rothenberg Ventures in Fraudulent Scheme

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Re: SEC Charges Rothenberg Ventures in Fraudulent Scheme

#51

Post by User23 »

kl4m wrote: post #44
User23 wrote: post #33

Earlier quoted context omitted.

And like many social science "theories" it's entirely incongruous with reality. One counter-example suffices to disprove a universal claim. The United States is that exception, because our constitution explicitly recognizes, not grants, our right to arm ourselves independently of the State (or States really), only with some regulation permitted. The actual definition of State can easily be found in the dictionary: "a…

A monopoly on violence , not guns. The U.S. constitution does not empower you to incarcerate your neighbor.

Actually US citizens can legally perform arrests, we just don't have the same legal presumptions that peace officers do.

Also it's obviously implied that the right to bear arms includes the right to use them under at least some circumstances. It would just be as ludicrous as saying freedom of the press only covers your right to own a press in your house or business and not your right to print things with it.

Re: SEC Charges Rothenberg Ventures in Fraudulent Scheme

#52

Post by harryh »

jakelarkin wrote: post #25

I wonder if this precocious racket will pay out over Rothenberg's lifetime vs. just banking his pedigree and network on some boring low risk career track. He's currently ahead a few million but his reputation is toast.

I keep a file on my Dropbox titled "Where Are They Now?" for exactly this purpose. Whenever I get curious about this sort of thing I add their name, a brief description, and the date to a list.

I don't just do it for "bad" people, but for all sorts of people that become notable for one reason or another. For example I (somewhat) recently added David Hogg & Emma González to the file.

I'm hoping that it will prove to be interesting reading in 10-20 years.

Re: SEC Charges Rothenberg Ventures in Fraudulent Scheme

#53

Post by aml183 »

wmf wrote: post #32
JumpCrisscross wrote: post #2

"Without admitting or denying the allegations in the SEC’s complaint, Rothenberg and Rothenberg Ventures agreed to settle the charges. The settlement is subject to approval by the federal district court for the Northern District of California which would determine the amount of disgorgement and civil money penalties. Rothenberg also agreed to be barred from the brokerage and investment advisory business with a right…

blowing investors' money on lavish staff events, which is a dick move but not necessarily illegal I'm not an expert on this topic, but if a limited partner agrees to something like "2 and 20" fees doesn't that imply that the other 98% of the money is to be invested and not used for expenses? 2% management fee on $64M assets is only $1.2M which is pretty small considering the size of staff they had. It's less bad if t…

There is something called fund expenses. A GP can allocate part of the fund to pay towards expenses they deem to be fund expenses. For example, the audit would be classified as a fund expense. Most funds have an outside administration company that handles the money and approves/rejects these decisions.

Re: SEC Charges Rothenberg Ventures in Fraudulent Scheme

#54

Post by pwaai »

kevin_b_er wrote: post #17
smittywerben wrote: post #8

Earlier quoted context omitted.

> government's monopoly on violence Can I get a source on this?

This is a sort of tenant of the modern state if you look at it a certain way. Ultimately the threat of violence is invested in the state to ensure the law is followed. It is not a pitchfork and torch mob that should come after you should you appear to have committed a serious crime, but rather the government's police agencies that will come to arrest you, very physically if need be. See also https://en.wikipedia.org/…

It's a full spectrum of monopolies that collectively represent a colonial apparatus...I'm not talking naval and nuclear projection or occupying a foreign country...

Putin has clearly mastered a new type of war that specifically weakens America's monopoly on violence both domestically and internationally.

You can already see the symptoms of an institution slowly coming to gripes to a major espionage campaign that did not stop after the USSR fell but evolved into a criminal state, one that explicitly seeks to include criminal elements to distance the Kremlin.

Americans rely on a network of multi-national corporations to do their bidding, Russians rely on the mob.

Re: SEC Charges Rothenberg Ventures in Fraudulent Scheme

#55

Post by owens99 »

harryh wrote: post #52
jakelarkin wrote: post #25

I wonder if this precocious racket will pay out over Rothenberg's lifetime vs. just banking his pedigree and network on some boring low risk career track. He's currently ahead a few million but his reputation is toast.

I keep a file on my Dropbox titled "Where Are They Now?" for exactly this purpose. Whenever I get curious about this sort of thing I add their name, a brief description, and the date to a list. I don't just do it for "bad" people, but for all sorts of people that become notable for one reason or another. For example I (somewhat) recently added David Hogg & Emma González to the file. I'm hoping that it will prove to b…

Please share this in 5-10 years :)

Always interested in this kind of analysis. Even if it's just your opinion/anecdotes.

Re: SEC Charges Rothenberg Ventures in Fraudulent Scheme

#56

Post by rosser »

User23 wrote: post #51
kl4m wrote: post #44

Earlier quoted context omitted.

A monopoly on violence , not guns. The U.S. constitution does not empower you to incarcerate your neighbor.

Actually US citizens can legally perform arrests, we just don't have the same legal presumptions that peace officers do. Also it's obviously implied that the right to bear arms includes the right to use them under at least some circumstances. It would just be as ludicrous as saying freedom of the press only covers your right to own a press in your house or business and not your right to print things with it.

> Actually US citizens can legally perform arrests...

And in doing so, they are acting as self-deputized agents of the state. They're temporarily "arming" themselves with the state's power to use violence in furtherance of its (legitimate) interests in enforcing its laws. They could not legally do that without the state's sanction.

EDIT: Some countries don't even limit the power of "citizen's arrest" to their own citizens. The UK's relevant statute specifically says "any person", emphasis added, may act thusly.

Re: SEC Charges Rothenberg Ventures in Fraudulent Scheme

#57

Post by samstave »

ciscoriordan wrote: post #10
ajiang wrote: post #7

Without admitting or denying the allegations in the SEC’s complaint, Rothenberg and Rothenberg Ventures agreed to settle the charges. The settlement is subject to approval by the federal district court for the Northern District of California which would determine the amount of disgorgement and civil money penalties. Rothenberg also agreed to be barred from the brokerage and investment advisory business with a right t…

Whistleblower here. It took 25 months from when I reported the fraud until the settlement.

Can you eli5/to:Dr exactly what the frauds were

Re: SEC Charges Rothenberg Ventures in Fraudulent Scheme

#58

Post by alex_young »

rayiner wrote: post #43
rahimnathwani wrote: post #30

I'm curious to know: - Does the firm and/or the individual have enough money? i.e. will the settlement, once paid, make investors whole? - Why does stealing $7 three times get someone a life sentence, but stealing $7MM once get zero jail time?

> - Why does stealing $7 three times get someone a life sentence, but stealing $7MM once get zero jail time? It doesn't--stealing $7 isn't a felony, and no three-strikes state predicates a life sentence on three non-felonies. But to address your general point: there are two different kinds of things. Criminal law isn't just about the effect, but the culpability of the offender. Is the offender a "bad person?" How bad…

Old news at this point, but there are probably plenty of people serving life for small theft in CA on the old law:

https://www.sfgate.com/news/article/Stealing-one-slice-of-pi...

Re: SEC Charges Rothenberg Ventures in Fraudulent Scheme

#59

Post by jmalicki »

alex_young wrote: post #58
rayiner wrote: post #43

Earlier quoted context omitted.

> - Why does stealing $7 three times get someone a life sentence, but stealing $7MM once get zero jail time? It doesn't--stealing $7 isn't a felony, and no three-strikes state predicates a life sentence on three non-felonies. But to address your general point: there are two different kinds of things. Criminal law isn't just about the effect, but the culpability of the offender. Is the offender a "bad person?" How bad…

Old news at this point, but there are probably plenty of people serving life for small theft in CA on the old law: https://www.sfgate.com/news/article/Stealing-one-slice-of-pi...

It was still felony petty theft... how stealing a pizza is a felony is messed up, but it was still a felony.

Re: SEC Charges Rothenberg Ventures in Fraudulent Scheme

#60

Post by siruncledrew »

harryh wrote: post #52
jakelarkin wrote: post #25

I wonder if this precocious racket will pay out over Rothenberg's lifetime vs. just banking his pedigree and network on some boring low risk career track. He's currently ahead a few million but his reputation is toast.

I keep a file on my Dropbox titled "Where Are They Now?" for exactly this purpose. Whenever I get curious about this sort of thing I add their name, a brief description, and the date to a list. I don't just do it for "bad" people, but for all sorts of people that become notable for one reason or another. For example I (somewhat) recently added David Hogg & Emma González to the file. I'm hoping that it will prove to b…

This is a great idea!
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