5 ms·
Can someone explain specifically what lies he told his investors to defraud them?
by se30b 9y ago
Can someone explain specifically what lies he told his investors to defraud them?
- tedunangst 9y agoHe claimed the fund was worth millions when it was really worth zero.
- spaceflunky 9y agoBut then he tripled their money...
- techman9 9y agoThat doesn't make his claims any less fraudulent.
- hokumguru 9y agoWhile definitely immoral and risky I might abide by "no harm no foul" - no one was harmed in this, end sum is positive
- techman9 9y agoThat's not the way federal law works. Beneficial ends don't justify illegal means in the eyes of federal prosecutors.
- s73v3r_ 9y agoThis time. Because he paid those investors with proceeds from his other company. But letting him off here means he'll likely do it again, and those investors might not be so lucky.
- 4gotmypass 9y agoHe tripled their money using money that he earned from his pharma company not from his investments with their money, which doesn't sound like a crime, but it's basically a Ponzi scheme and is illegal. (If I remember correctly)
- TheCoelacanth 9y agoIf I steal money and use it to buy lottery tickets, it doesn't become less of a crime if win and am able to pay the money back.
- onecooldev24 9y agoYou don't know his case, you better not comment.
- hokumguru 9y agoExcept didn't it end up making investors much more?
- tedunangst 9y agoThat came later, after the incorrect assurances.