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Is it correct that Charlie Javice is keeping the majority of the profits she made from the sale of Frank? If so, it's quite possible she considers the profit w
by SapporoChris 1y ago
Is it correct that Charlie Javice is keeping the majority of the profits she made from the sale of Frank?
If so, it's quite possible she considers the profit well worth the penalty.
- tptacek 1y agoNo. She's required to make restitution far in excess of the total proceeds of the sale, including as a minor component a sum that captures her own personal proceeds.
- SapporoChris 1y agoAh, thank you. I found the details here. https://www.justice.gov/usao-sdny/pr/startup-ceo-charlie-javice-sentenced-85-months-prison-175-million-fraud https://www.justice.gov/usao-sdny/pr/startup-ceo-charlie-jav... “Javice perpetrated a $175 million fraud—repeatedly lying about the success of her startup company and even hiring a data scientist to create fake data to back up her lies. For that, Javice has been sentenced to 85 months’ imprisonment and ordered to pay over $300,000,000,”
- qingcharles 1y agoI don't know how they run that in federal prisons, but in some states they'll just put that balance on your commissary account, so you'd go to buy some noodles and you'd be -$300m before you start.
- harambae 1y agoI don't think they do that in FCI's (I have a friend in right now). They do, however, have a cap on the commissary of like $400 a month or so. So even if you're a billionaire it's not super helpful (although you can probably cut deals to add a little bit to other people's accounts, etc..)
- sally_glance 1y agoMaybe JP did actually smell something during DD but decided to go ahead because of FOMO and confidence that they could just sue later if their concerns turned out to be true...