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I'm not up on all the details of the situation, but "after creditors and investors" means $0, right? Why is a fine getting less priority than investors? Isn't t
by jowea 3y ago
I'm not up on all the details of the situation, but "after creditors and investors" means $0, right? Why is a fine getting less priority than investors? Isn't that a moral hazard?
- toomuchtodo 3y agoFine is less priority than investors because the government doesn't want to be taking recourse from those harmed.
- jowea 3y agoI went looking a little more, the FTC itself says something quite different, unless CNBC is calling the clients "investors". > The companies also agreed to a judgment of $4.7 billion, which will be suspended to permit Celsius to return its remaining assets to consumers in bankruptcy proceedings. https://www.ftc.gov/news-events/news/press-releases/2023/07/ftc-reaches-settlement-crypto-platform-celsius-network-charges-former-executives-duping-consumers https://www.ftc.gov/news-events/news/press-releases/2023/07/...