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I mean, that forfeiture looks like "return most of the money you stole from the bank" with no punitive damages other than an officer-and-director bar, so does a
by beager 8y ago
I mean, that forfeiture looks like "return most of the money you stole from the bank" with no punitive damages other than an officer-and-director bar, so does appear to be a slap on the wrist, unless he also serves time for the wire fraud.
- ergothus 8y agoYou are correct - I was focused on the "did he get to profit from this despite getting caught" because I was worried about the positive incentive to be a fraud. However, lack of a positive when caught is NOT the same as a negative, so yeah, still a slap on the wrist, relatively speaking.
- freeone3000 8y agoThis is just the SEC charges. They mention a concurrent criminal case - this is where the actual penalties are going to be.
- exogeny 8y agoThat money is spent though. There's nothing to return. He's going to have his wages garnished, hard, until he dies. I don't think it's a slap on the wrist by any means. (And to be clear, I'm not being sympathetic when I say that. Fuck him.)