3 ms·
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
by 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 agoSBF 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 agoThe 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.