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It's interesting that the US gets priority on prosecution here when the losses internationally are far in excess of those of US creditors.

deleted 4y ago
[deleted]
ajross 4y ago
There's no "priority" at work. The DoJ just filed charges first. There's no reason any other jurisdiction couldn't file its own case simultaneously, though obviously they're unlikely to get him extradited while he's standing trial.
coffeebeqn 4y ago
It’s the biggest economy and the strongest “rule of law” out of all the large countries in the world. And it has the most soft power in the world. I’m not too surprised
kkielhofner 4y ago
The United States Department of Justice effectively has a 99.6% conviction rate[0]. As the article states most of this comes from pleas but in cases like this (Theranos, etc) they'll go to trial and almost always be found guilty anyway. That's an impressive stat and they want to keep it. With a conviction rate like that an indictment is practically a guarantee that anyone named in it will go to prison. They also have an incredible amount of law and leverage in their favor. For example, another tactic is using statutes like "false or misleading statements"[1]. As that article tells it they'll often navigate suspects towards making statements investigators know to be false and then come back at a later interview and let them know they already have them on something that can get them five years in prison. There have been famous examples of wealthy and sophisticated people (Martha Stewart, Dennis Hastert, etc) getting charged under that statute when all else fails. Basically, if they want to get you they will get you. All of this is pretty well known and I'm not surprised in the least the rest of the world is happy to sit back and watch the DOJ "do what it does" and put people in prison. [0] - https://www.doarlaw.com/blog/2021/04/what-you-should-know-about-the-federal-governments-conviction-rate/ https://www.doarlaw.com/blog/2021/04/what-you-should-know-ab... [1] - https://www.iannfriedman.com/blog/2019/april/federal-charges-for-false-misleading-statements/ https://www.iannfriedman.com/blog/2019/april/federal-charges...

deleted 4y ago

[deleted]

ajross 4y ago

There's no "priority" at work. The DoJ just filed charges first. There's no reason any other jurisdiction couldn't file its own case simultaneously, though obviously they're unlikely to get him extradited while he's standing trial.

coffeebeqn 4y ago

It’s the biggest economy and the strongest “rule of law” out of all the large countries in the world. And it has the most soft power in the world. I’m not too surprised

kkielhofner 4y ago

The United States Department of Justice effectively has a 99.6% conviction rate[0]. As the article states most of this comes from pleas but in cases like this (Theranos, etc) they'll go to trial and almost always be found guilty anyway. That's an impressive stat and they want to keep it. With a conviction rate like that an indictment is practically a guarantee that anyone named in it will go to prison. They also have an incredible amount of law and leverage in their favor. For example, another tactic is using statutes like "false or misleading statements"[1]. As that article tells it they'll often navigate suspects towards making statements investigators know to be false and then come back at a later interview and let them know they already have them on something that can get them five years in prison. There have been famous examples of wealthy and sophisticated people (Martha Stewart, Dennis Hastert, etc) getting charged under that statute when all else fails. Basically, if they want to get you they will get you. All of this is pretty well known and I'm not surprised in the least the rest of the world is happy to sit back and watch the DOJ "do what it does" and put people in prison. [0] - https://www.doarlaw.com/blog/2021/04/what-you-should-know-about-the-federal-governments-conviction-rate/ https://www.doarlaw.com/blog/2021/04/what-you-should-know-ab... [1] - https://www.iannfriedman.com/blog/2019/april/federal-charges-for-false-misleading-statements/ https://www.iannfriedman.com/blog/2019/april/federal-charges...