3 ms·

I wonder how much profit the VP made during his tenure and as part of the insider trading. It seems like the cost of that benefit is $11,300 ($10K fine + $1.3K

I wonder how much profit the VP made during his tenure and as part of the insider trading. It seems like the cost of that benefit is $11,300 ($10K fine + $1.3K special assessment) and 15 months in prison which I assume will be a "nicer" prison. White collar crime seems to pay well, and the consequences don't seem too harsh. Edit: the $11.3K and 15 months is for falsifying documents. I don't know if he had a separate fine for the insider trading.

neom 3y ago
https://www.bfhelaw.com/blog/2021/03/surprising-facts-about-prison-for-white-collar-criminals/ https://www.bfhelaw.com/blog/2021/03/surprising-facts-about-... There is no such thing as an ‘easy’ prison It really grinds my gears people perpetuate this. Federal prison is federal prison.
- JimtheCoder 3y ago
  The reference you provided looks like generic SEO content...not really something to build your case with...
- inamberclad 3y ago
  Federal prison is still held to much higher standards when compared to county jails, especially those run by for profit corporations.
- boomboomsubban 3y ago
  >There is no such thing as an ‘easy’ prison According to a law firm's blog/advertisement. It may be true, but they are trying to get you to hire them to keep you out of prison.
- ElongatedMusket 3y ago
  You aren't tortured or starved. You aren't physically or psychologically abused. The food is hot and you are fed enough calories to not be hungry. You are given jobs to keep your mind busy, can shower, groom, and buy goodies with your work earnings. If I had like 50 million stashed away and had to live like this for about 2 years in prison, then I could get out and enjoy my millions, sounds good to me... sign me up. White collar criminal judgments for corporations, high rolling individuals and politicians is a joke compared to the average joe.
  - throwawayother 3y ago
    [dead]
  - landemva 3y ago
    If your gig is to run parts of the 3rd central bank of USA, you can literally trade millions pre-market just before big bailouts by the Federal Reserve. Where are the handcuffs? Nothing to see, everyone move on. "Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren during 2020. As the heads of two of the Fed's network of 12 reserve banks, both were instrumental in engineering the Fed’s response to the financial fallout from the COVID-19 pandemic." https://finance.yahoo.com/news/a-timeline-of-the-federal-reserves-trading-scandal-104415556.html https://finance.yahoo.com/news/a-timeline-of-the-federal-res...
- YourGrace 3y ago
  I didn't mention that it was 'easy', only 'nicer'. I wasn't clear that I was comparing it to a what a state prison would be. I also didn't mean to insinuate that prison is easy or nice, only that my belief is that white-collar crimes (especially ones were lots of money is involved) tend to get the guilty party into a federal prison that will treat them better. Of course, this is all relative. I'd rather not go to any prison, however if there was a choice or ability to influence the decision, I'd prefer a "nicer" federal prison, especially one of the ones listed as the best prisons to go to. I do believe a lot of people would trade a federal prison sentence if they were able to steal millions and were able to get it afterwards. Of course, the prison sentence to how much money was made will vary per individual. Some quick links from google on the best federal prisons where it mentions there are "nicer" federal prisons. [1] https://federalcriminaldefenseattorney.com/best-federal-prisons/ https://federalcriminaldefenseattorney.com/best-federal-pris... [2] https://www.cnbc.com/2012/01/19/The-Best-Places-to-Go-to-Prison.html https://www.cnbc.com/2012/01/19/The-Best-Places-to-Go-to-Pri... [3] https://www.forbes.com/2009/07/13/best-prisons-cushiest-madoff-personal-finance-lockups.html?sh=3e3b0db011f3 https://www.forbes.com/2009/07/13/best-prisons-cushiest-mado...
- WentFullRetard 3y ago
  [dead]
cowsandmilk 3y ago
The insider trading charges were only for $11,000 of profit for the SVB VP. SEC charges are below. https://www.sec.gov/news/press-release/2021-117 https://www.sec.gov/news/press-release/2021-117
- YourGrace 3y ago
  Thank you for the link. That helps answer my question and 11K doesn't seem worth the risk. I was honestly expecting a much larger profit than that. His friend made ~$40K in gains. Both had to pay fines which is good.

neom 3y ago

https://www.bfhelaw.com/blog/2021/03/surprising-facts-about-prison-for-white-collar-criminals/ https://www.bfhelaw.com/blog/2021/03/surprising-facts-about-... There is no such thing as an ‘easy’ prison It really grinds my gears people perpetuate this. Federal prison is federal prison.

JimtheCoder 3y ago
The reference you provided looks like generic SEO content...not really something to build your case with...
inamberclad 3y ago
Federal prison is still held to much higher standards when compared to county jails, especially those run by for profit corporations.
boomboomsubban 3y ago
>There is no such thing as an ‘easy’ prison According to a law firm's blog/advertisement. It may be true, but they are trying to get you to hire them to keep you out of prison.
ElongatedMusket 3y ago
You aren't tortured or starved. You aren't physically or psychologically abused. The food is hot and you are fed enough calories to not be hungry. You are given jobs to keep your mind busy, can shower, groom, and buy goodies with your work earnings. If I had like 50 million stashed away and had to live like this for about 2 years in prison, then I could get out and enjoy my millions, sounds good to me... sign me up. White collar criminal judgments for corporations, high rolling individuals and politicians is a joke compared to the average joe.
- throwawayother 3y ago
  [dead]
- landemva 3y ago
  If your gig is to run parts of the 3rd central bank of USA, you can literally trade millions pre-market just before big bailouts by the Federal Reserve. Where are the handcuffs? Nothing to see, everyone move on. "Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren during 2020. As the heads of two of the Fed's network of 12 reserve banks, both were instrumental in engineering the Fed’s response to the financial fallout from the COVID-19 pandemic." https://finance.yahoo.com/news/a-timeline-of-the-federal-reserves-trading-scandal-104415556.html https://finance.yahoo.com/news/a-timeline-of-the-federal-res...
YourGrace 3y ago
I didn't mention that it was 'easy', only 'nicer'. I wasn't clear that I was comparing it to a what a state prison would be. I also didn't mean to insinuate that prison is easy or nice, only that my belief is that white-collar crimes (especially ones were lots of money is involved) tend to get the guilty party into a federal prison that will treat them better. Of course, this is all relative. I'd rather not go to any prison, however if there was a choice or ability to influence the decision, I'd prefer a "nicer" federal prison, especially one of the ones listed as the best prisons to go to. I do believe a lot of people would trade a federal prison sentence if they were able to steal millions and were able to get it afterwards. Of course, the prison sentence to how much money was made will vary per individual. Some quick links from google on the best federal prisons where it mentions there are "nicer" federal prisons. [1] https://federalcriminaldefenseattorney.com/best-federal-prisons/ https://federalcriminaldefenseattorney.com/best-federal-pris... [2] https://www.cnbc.com/2012/01/19/The-Best-Places-to-Go-to-Prison.html https://www.cnbc.com/2012/01/19/The-Best-Places-to-Go-to-Pri... [3] https://www.forbes.com/2009/07/13/best-prisons-cushiest-madoff-personal-finance-lockups.html?sh=3e3b0db011f3 https://www.forbes.com/2009/07/13/best-prisons-cushiest-mado...
WentFullRetard 3y ago
[dead]

cowsandmilk 3y ago

The insider trading charges were only for $11,000 of profit for the SVB VP. SEC charges are below. https://www.sec.gov/news/press-release/2021-117 https://www.sec.gov/news/press-release/2021-117

YourGrace 3y ago
Thank you for the link. That helps answer my question and 11K doesn't seem worth the risk. I was honestly expecting a much larger profit than that. His friend made ~$40K in gains. Both had to pay fines which is good.