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I know it's a plea deal, but: Reward: $1,000,000~ Profit Potential Cost When Caught: Restitution $117,117.61 + $55,000 Fine + 4 Months Jail Time Odds of Gett
by 4ntonius8lock 7y ago
I know it's a plea deal, but:
Reward: $1,000,000~ Profit
Potential Cost When Caught: Restitution $117,117.61 + $55,000 Fine + 4 Months Jail Time
Odds of Getting Caught: ?
I feel the ? part is probably pretty low. Like single digit low.
Seems like pretty bad disincentive. Especially when compared to how we disincentive petty things like shop lifting. How much more egregious will our legal system get?
- esoterica 7y agoRead the article again, the profit was $117k, not $1m.
- 4ntonius8lock 7y agoHe cashed almost $1m. He WOULD have lost $117k. So after all the chips fell, that was his ill-gotten amount. But he didn't know that at the time. He knew the stocks were going down. How much is anyone's guess. The externalizations of their failure are a multi billion dollar matter. It wasn't a small issue. There was a real potential their stock would plummet. From his perspective at the time, he was getting almost $1m, which he might not get otherwise. Furthermore, the reason for the stock going down in the first place was HIS fault. He was the CIO. The information leak was directly on his shoulders.
- esoterica 7y agoThe restitution was exactly equal to the profit (and there was a fine imposed on top of that). If he had made $1m instead of 117k then he would have been made to pay back $1m. Your assertion that the restitution structure would have allowed him to pay back less then the amount he profited by is nonsensical.