4 ms·
He will likely end up in jail. If he's not in jail by the end of this there is just serious corruption.
by friedman23 4y ago
He will likely end up in jail. If he's not in jail by the end of this there is just serious corruption.
- grensley 4y agoThe corporate structure surrounding FTX is so complex, and given that Elizabeth Holmes is still walking free, I would guess it will be a long long time before anyone involved here sees a jail cell.
- incompleteCode 4y agoElizabeth Holmes defrauded investors. SBF gambled with customer deposits. I’d say the stakes are higher. Edit: fixed formatting.
- a_bonobo 4y agoPlus, Holmes was judged to be guilty, the sentencing will be this week: https://www.theguardian.com/technology/2022/nov/14/theranos-elizabeth-holmes-sentencing-fraud https://www.theguardian.com/technology/2022/nov/14/theranos-...
- grensley 4y agoI'm just saying that it's been 7 years since the fraud went public
- carterschonwald 4y agoYeah. The SEC was created to protect the general public. Not “sophisticated investors ” (aka those who care afford to lose money)
- jimhi 4y agoHolmes made up device was in a few Walgreens giving people made up medical test results. I disagree the stakes are higher here.
- markdown 4y agoHe's a citizen of the most corrupt country in the world and the (only?) one that legalised that corruption and gave it a different name. He was the biggest donor to the governing party. He'll be fine.
- nwiswell 4y ago> He lives in USA This is incorrect, he's an actual physical resident of the Bahamas, where FTX is also domiciled.
- markdown 4y agoThanks, fixed.
- ALittleLight 4y agoMost corrupt country in the world? By what measure?
- markdown 4y agoIt's legal in your country to pay huge sums of money to your politicians in order to buy influence. Ergo the laws of the country and the actions of the government are for sale to the highest bidder. In most other countries, this would land people in jail, but in the US it's so utterly brazen that you can find the details online. See https://www.opensecrets.org/ https://www.opensecrets.org/ Don't forget that the very phrase "Banana Republic" is a result of US corporations that had bought the US govt and gotten them to oust governments in 3rd world countries for the benefit of those US corporations.
- ALittleLight 4y agoTransparency International maintains a global corruption index - the US ranks 27th in terms of "least corrupt" which is within the top quintile. Many other countries rank worse. For example, Fiji is rated 45th on the index. You can absolutely use money to influence politicians in the US, but that's likely true of wherever you live too. New Zealand is a very not-corrupt country according to the corruption index, but I seem to recall Peter Thiel had no trouble purchasing citizenship in contravention of their laws - I'm sure money had nothing to do with that though.