81–90 of 90 posts
I think if you steal millions of dollars you should go to prison. And a fraud like this should have the same type of punishment as other types of theft.
Not in corporate America
They seemed like clowns to me (including calling to ask us to come pitch, setting up a time, and then forgetting about it when we showed up). Seeing them at industry events they didn't seem like they knew what they were doing. So how did they get LPs?
I don't know what the pitch was prior to "I turned $100k invested in Robinhood into $20 million of paper gains" but I think I have a pretty good idea of the conversation after.
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…
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The SEC only has authority to levy civil fines. They issue a fine, and then hand the case over to the US Attorney's Office (and often state attorney generals' offices), which then build a criminal case. Stay tuned. This may not be over yet. (A good comparison is the Fyre Festival, which led to both civil and criminal charges: https://www.cbsnews.com/news/fyre-festival-founder-billy-mcf... . ) Edit: Theranos was anoth…
And other times criminal charges comes first. For example, SEC investigated Bernie Madoff multiple times, but the it was the FBI that decided to act, based on a criminal complaint. Sentence: 150 years. https://en.wikipedia.org/wiki/Bernard_Madoff
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And other times criminal charges comes first. For example, SEC investigated Bernie Madoff multiple times, but the it was the FBI that decided to act, based on a criminal complaint. Sentence: 150 years. https://en.wikipedia.org/wiki/Bernard_Madoff
In this case should one be allowed to request a death penalty? Wouldn't 150 years in jail be considered cruel and unusual punishment?
If prison conditions are bad enough for someone to even consider that, that's a damning indictment of the prison system.
> Wouldn't 150 years in jail be considered cruel and unusual punishment?
Certainly not unusual, and jail doesn't seem inherently cruel, if we believe some people are enough of a danger to society that they need to be kept out of it. (Of course some particular jails might be cruel).
(I'm using the British English meaning of "jail"; I'm aware that in US English the term has a technical meaning)
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In this case should one be allowed to request a death penalty? Wouldn't 150 years in jail be considered cruel and unusual punishment?
> should one be allowed to request a death penalty? If prison conditions are bad enough for someone to even consider that, that's a damning indictment of the prison system. > Wouldn't 150 years in jail be considered cruel and unusual punishment? Certainly not unusual, and jail doesn't seem inherently cruel, if we believe some people are enough of a danger to society that they need to be kept out of it. (Of course som…
really? a cage is still a cage, no matter how nice. i'm not thirty yet; to live out more than half of my life in confinement, with no hope of release, sounds like a fate worse than death to me. if i were near the end of my life already and had a family, it might be a different calculation.
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> - 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...
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But legally...he was a criminal (probably). Just like people who drove 80mph were criminals during the Emergency Highway Energy Conversation Act, but they weren't before or after that.
No, legally people who are convicted of crimes are criminals.