3 ms·

Getting a house isn’t a crime; what crime did they commit? If not a crime, what civil law did they violate, which indicates that they owe some penalty or compen

by nickff 3y ago

Getting a house isn’t a crime; what crime did they commit? If not a crime, what civil law did they violate, which indicates that they owe some penalty or compensation? I’m not sure they’re innocent, but I’m also unsure what you’re accusing them of.

pavlov 3y ago
They were FTX insiders. It’s not like they received this massive compensation out of the blue. They should be investigated as co-conspirators in their son’s proven fraud operation.
- ethbr1 3y ago
  It'd probably be hard to prove they were insiders. However, this is exactly what RICO [0] was created to prosecute. I'd assumed, given the sprawling nature of the case, FTX / SBF was already being charged under RICO. But maybe not? [0] https://en.m.wikipedia.org/wiki/Racketeer_Influenced_and_Corrupt_Organizations_Act https://en.m.wikipedia.org/wiki/Racketeer_Influenced_and_Cor...
  - nickff 3y ago
    SBF was charged with RICO https://www.cnn.com/2022/12/13/business/sam-bankman-fried-charges/index.html https://www.cnn.com/2022/12/13/business/sam-bankman-fried-ch... I am not sure how his parents would have committed a RICO offense, especially because they haven't even been charged with precursor offenses.
    - ethbr1 3y ago
      The criminal charges were under 18 USC 1956 (among others), but not RICO charges? https://www.law.cornell.edu/uscode/text/18/part-I https://www.law.cornell.edu/uscode/text/18/part-I There's apparently a class action suit that does allege RICO offenses against SBF and co-conspirators (i.e. celebrity endorsements), but believe those are state civil charges? To me, the RICO charges against the parents would be a pattern of participation-in and driving business-to a criminal enterprise. They, and the celebrity endorsements, were key enablers in the scheme.
- pdabbadabba 3y ago
  I have no problem with investigating them, I suppose, especially given the father's position at the company. But I think it's a bit unhinged to leap straight to: "these parents that helped create a family criminal enterprise need to be brought to justice and serve time in prison right along with their son."
prirun 3y ago
Did they pay taxes on their gift? If not, they committed a crime IMO. Probably FTX paid the taxes, but maybe no one did, in which case the parents owe it.
- dragonwriter 3y ago
  US gift taxes are owed by the giver, not the reciever (and its not an “if A fails than B must” thing.) Not sure if there are other taxes a US party receiving a gift of real property in the Bahamas would be required to pay related to the transaction.

by nickff 3y ago

pavlov 3y ago

They were FTX insiders. It’s not like they received this massive compensation out of the blue. They should be investigated as co-conspirators in their son’s proven fraud operation.

ethbr1 3y ago
It'd probably be hard to prove they were insiders. However, this is exactly what RICO [0] was created to prosecute. I'd assumed, given the sprawling nature of the case, FTX / SBF was already being charged under RICO. But maybe not? [0] https://en.m.wikipedia.org/wiki/Racketeer_Influenced_and_Corrupt_Organizations_Act https://en.m.wikipedia.org/wiki/Racketeer_Influenced_and_Cor...
- nickff 3y ago
  SBF was charged with RICO https://www.cnn.com/2022/12/13/business/sam-bankman-fried-charges/index.html https://www.cnn.com/2022/12/13/business/sam-bankman-fried-ch... I am not sure how his parents would have committed a RICO offense, especially because they haven't even been charged with precursor offenses.
  - ethbr1 3y ago
    The criminal charges were under 18 USC 1956 (among others), but not RICO charges? https://www.law.cornell.edu/uscode/text/18/part-I https://www.law.cornell.edu/uscode/text/18/part-I There's apparently a class action suit that does allege RICO offenses against SBF and co-conspirators (i.e. celebrity endorsements), but believe those are state civil charges? To me, the RICO charges against the parents would be a pattern of participation-in and driving business-to a criminal enterprise. They, and the celebrity endorsements, were key enablers in the scheme.
pdabbadabba 3y ago
I have no problem with investigating them, I suppose, especially given the father's position at the company. But I think it's a bit unhinged to leap straight to: "these parents that helped create a family criminal enterprise need to be brought to justice and serve time in prison right along with their son."

prirun 3y ago

Did they pay taxes on their gift? If not, they committed a crime IMO. Probably FTX paid the taxes, but maybe no one did, in which case the parents owe it.

dragonwriter 3y ago
US gift taxes are owed by the giver, not the reciever (and its not an “if A fails than B must” thing.) Not sure if there are other taxes a US party receiving a gift of real property in the Bahamas would be required to pay related to the transaction.