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Fraud is still a criminal offense, last time I checked.
by sunchild 15y ago
Fraud is still a criminal offense, last time I checked.
- tptacek 15y agoSo is carrying rabid dogs OR corpses in a cab in the City of London. What does that have to do with whether a particular SEC rules violation is a criminal or civil matter? Did you know Google got into the same hot water before their IPO? But because pundits liked Google and don't like Groupon, the ledes on all those stories were "IPO might be delayed", not "founder might go to jail".
- sunchild 15y agoMy point stands on it's own two feet. I never said Groupon was engaged in fraud. I was responding to the parent comment's proposition that criminal behavior is irrelevant to pre-IPO activity. Fraud is a criminal offense, and fraud is defined as "an intentional deception made for personal gain". The point is: Fraud is always a course of action available to the SEC, FTC and AGs.
- tptacek 15y agoNobody made any such "proposition".