The reduced sentences for Ellison, Wang, and Singh make sense in light of their cooperation. This is how plea deals work. The conviction of SBF seems simple in retrospect, but when the SDNY inked these deals, they did not yet know how just easy SBF would make their case for them, with all the tampering and perjury and obstinance. Nonetheless, we should not be fooled by a sort of "Svengali defense", where Caroline or…
SEC obtains final consent judgments against former FTX and Alameda executives
81–90 of 102 posts
Re: SEC obtains final consent judgments against former FTX and Alameda executives
#82> Without denying the Commission’s allegations, Ellison, Wang, and Singh consented to the entry of final judgments, subject to court approval, in which they agreed to be permanently enjoined from violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and Section 17(a) of the Securities Act of 1933, and to 5-year conduct-based injunctions. Ellison also cons…
> That’s a really light sentence for someone who defrauded people out of billions I don't excuse anything that she did, but didn't 98% of investors get everything back with interest?
Re: SEC obtains final consent judgments against former FTX and Alameda executives
#83Earlier quoted context omitted.
The majority of cases don’t go to trial because the majority of cases are hopeless for the defendants. Law-abiding citizens wouldn’t have a 50% recidivism rate. While it’s admirable to push back against the state, not all defendants earn our sympathy in their plight.
>Law-abiding citizens wouldn’t have a 50% recidivism rate. What if being incarcerated has an affect on this value?
Re: SEC obtains final consent judgments against former FTX and Alameda executives
#84Re: SEC obtains final consent judgments against former FTX and Alameda executives
#85Earlier quoted context omitted.
Everybody hates Trump, he's the least popular president ever. Unless these crypto folks have massive money and are using it right now to pay Trump tk not pardon SBF, what would they do? What backlash could crypto do? It's not like he can unpardon Trump. Crypto just joins the long line of people who fell for it again and nothing happens. What, is a Republican going to vote against Trump? Hah! Impeachment? What trouble…
I mean, even his own son would probably be pissed at him. Not to mention pretty much everyone in his crypto entourage, which is a lot of people.
Re: SEC obtains final consent judgments against former FTX and Alameda executives
#86Earlier quoted context omitted.
SBF claims to have spread money equally between the parties, but hid the Republican donations: https://finance.yahoo.com/news/sam-bankman-fried-says-donate...
That doesn't make his claim any less factual, and we have no idea if he gave money to Trump.
Re: SEC obtains final consent judgments against former FTX and Alameda executives
#87Earlier quoted context omitted.
I mean, even his own son would probably be pissed at him. Not to mention pretty much everyone in his crypto entourage, which is a lot of people.
You are avoiding my questions. What does their anger matter? Concretely, how could that impact Trump?
Re: SEC obtains final consent judgments against former FTX and Alameda executives
#88Earlier quoted context omitted.
...the primary effect of which is that fewer than 4% of criminal cases go to trial, and our prison, parole, and probation systems are full of people who pled to crimes they did not commit, and poison trees of evidence are intentionally and ruthlessly planted without challenge or consideration by a jurist.
The majority of cases don’t go to trial because the majority of cases are hopeless for the defendants. Law-abiding citizens wouldn’t have a 50% recidivism rate. While it’s admirable to push back against the state, not all defendants earn our sympathy in their plight.
...but are the lion's share of these hopeless on the basis of the evidence, combined with a fair process and a just, civically-informed legal framework?
A person who is searched pursuant to a prompted canine indication, and found to be in possession of 5 grams of crack cocaine has a "hopeless" case, but they have committed no offense to society that I can recognize, and their inclination to plea to a lesser charge means that the particulars of the search will never be heard by a jurist.
> Law-abiding citizens wouldn’t have a 50% recidivism rate.
This seems like a testable hypothesis, albeit only after a successful completion of the abolitionist movement. I'll bet that, in a society focused on restorative justice and no dependence on a slave economy dressed up as incarceration, that nobody will have a 50% recidivism rate.
> While it’s admirable to push back against the state, not all defendants earn our sympathy in their plight.
Agreed, of course. But there's no justice in taking even the worst in society forcing them to be laborers to make Starbucks packaging. Let's remove the incentive structure first, and decide how to distribute our sympathies second.
Re: SEC obtains final consent judgments against former FTX and Alameda executives
#89Earlier quoted context omitted.
...the primary effect of which is that fewer than 4% of criminal cases go to trial, and our prison, parole, and probation systems are full of people who pled to crimes they did not commit, and poison trees of evidence are intentionally and ruthlessly planted without challenge or consideration by a jurist.
I don't think the answer is more lawyers/judges and court rooms to fill that 96%
Re: SEC obtains final consent judgments against former FTX and Alameda executives
#90Earlier quoted context omitted.
They were legally the same?
They = the people? Not precisely. Each of the perpetrators did certain things, agreed to certain things, and knew things at certain times. But I was responding to the notion in the parent that CE was just "running an investment firm" whereas SBF was running a company doing different stuff. It turned out to be all one co-mingled entity, contrary to how it was marketed. One company, and all of the main perpetrators kne…
Honestly I wasn't sure what you meant by adding "legally speaking". It seemed to imply there was some legal ruling that both companies were the same. Cause otherwise imho there is no difference "they ran both companies" and "they ran both companies as a matter of law".