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"raise billions to make customers whole" also still means fraud; he's taking investor money and giving it away. The purpose of invested funds is to improve the
by temp2022acc 4y ago
"raise billions to make customers whole" also still means fraud; he's taking investor money and giving it away. The purpose of invested funds is to improve the business, with a long-term goal of returning more than you were given to investors. Not doing that is the definition of securities fraud.
- Sebb767 4y ago> "raise billions to make customers whole" also still means fraud; he's taking investor money and giving it away. I think the means "take investor money, make customers whole, thereby restore FTX, raise the company value and then pay back investors", which is not fraud. That being said, I wouldn't put it beyond him anymore to publicly suggest defrauding investors.
- anonymoushn 4y agoGiven the apparent identities of the investors, it's unlikely that he was misrepresenting his plans to them.