3 ms·

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 pro

by 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."

3 ms·

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 pro

by 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."