4 ms·
It's surprising that there also seems to be a pattern where the people engaging in these crimes can afford to pay $1mil+ bonds (Holmes, Bankman-Fried). I haven
by fblp 4y ago
It's surprising that there also seems to be a pattern where the people engaging in these crimes can afford to pay $1mil+ bonds (Holmes, Bankman-Fried).
I haven't recently seen an article where someone committed massive whitecollar fraud and they couldn't afford this bond because they didn't have incredibly wealthy friends or family.
- tedivm 4y agoA lot of times they don't have to put up any actual money, just collateral. With bay area housing prices being as high as they are they can typically use their houses to cover the bond.
- peteradio 4y agoSo foreign investment in USA property can influence fraud in the tech sector, interesting what this one tangential influence could account for.
- HarryHirsch 4y agoGoes to show that the fraud is systemic - the individual who is being prosecuted is just the face of the operation, family and friends are in on the joke.