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I worked for an investment company that lost a lot of money once. The first thing we did was go visit the lawyer, who provided great relief for my boss. Basica
by lordnacho 4y ago
I worked for an investment company that lost a lot of money once. The first thing we did was go visit the lawyer, who provided great relief for my boss.
Basically as long as you haven't broken the law or the contracts, you're ok. It's no different from "I bought some stuff that lost money".
That's the defense. I don't know anything about that rather large caveat in this case, but for that old boss it was clear since everything was exchange listed and there were never any movements of money other than to the clearing houses.
- khuey 4y agoThey almost certainly broke the contracts at a bare minimum.
- UncleEntity 4y agoThey weren’t running an investment house but an exchange. Investments come with inherent and stated risks and if you lose money, well, you knew the risks.
- dragonwriter 4y ago> I worked for an investment company that lost a lot of money once Losing money is not SBF’s problem. Stealing customer assets to cover for it, and then losing those, too, is. And tweeting through it, providing confessions to that that will greatly complicate any defense.