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Whoa. My GUESS is that since he's being prosecuted for fraud, et al, they can't say these were illegally obtained (innocent until proven guilty) and therefore
by caseysoftware 4y ago
Whoa.
My GUESS is that since he's being prosecuted for fraud, et al, they can't say these were illegally obtained (innocent until proven guilty) and therefore they can't seize the funds yet.
And if the lawyers are in on it, they're over billing and keeping building an escrow fund that would go back to one of them at the end.
The scumminess is rather impressive.
- nradov 4y agoProsecutors might not be able to immediately seize assets, however if they have evidence that those assets were obtained through criminal activity then they can ask the court to freeze the assets pending the outcome of a criminal trial.
- TacticalCoder 4y ago> And if the lawyers are in on it, they're over billing and keeping building an escrow fund that would go back to one of them at the end. The ones in charge of the bankruptcy are also bleeding the customers and investors dry. They charged $700 million in the Madoff case. There are $10 bn missing here. It's not unthinkable they'll steal 10% of that. They are vermins, just as scummy as SBF. But it's legal.
- hgsgm 4y agoCivil forfeiture law says the money can be seized on mere suspicion of being involved in a crime.