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Article says she got paid $250,000 for the endorsement, so she lost 5x that amount.
by pid-1 4y ago
Article says she got paid $250,000 for the endorsement, so she lost 5x that amount.
- wongarsu 4y agoIf the SEC only fines 5x the profit, they have to fine at least 20% of offenses to make this an unprofitable business practice (never mind punishing it). Does the SEC even have the manpower for that?
- 300bps 4y agoAnd if you steal $5 from a grocery store if it's your first offense, in my state it's a summary offense punishable by up to 90 days in jail and fine of up to $300 (60x the amount). The problem with these crimes is that you'll get away with it some multiplier of times you get caught. So if you can do it 20 times and get caught once it doesn't matter if you lost 5x the amount. You're still ahead and can chalk the little fines up to the cost of doing illegal business.