I think it looks doubtful at this point.
His co-conspirators perhaps? However from what I’ve heard he won’t because he didn’t plead guilty and a few other things probably means it’s coming down harder.
I ain’t no lawyer, but I understand your sentiment. I’m still awaiting Trump to face some sort of consequence.
Kyrgizion@lemmy.world 11 months ago
This guy didn’t just steal from little traders, he tried to pull a fast one on his overlords as well. He made the same mistake Madoff did. He’s going away for a long time.
SmoothIsFast@citizensgaming.com 11 months ago
Also what the fuck are you talking about here? Madoff turned himself in because no one in the SEC would look at the DTCCs books. Not to mention his other fleece of payment for order flow is now an industry standard for almost all brokers and market makers.
atrielienz@lemmy.world 10 months ago
I wouldn’t say he’s like Madoff. I would say he’s like Elizabeth Holmes (the Theranos cunt).
fiat_lux@kbin.social 11 months ago
Fair point, but maybe he's another one of these people who will get special considerations for information about larger companies that a government needs for evidence.
Who knows? I ought to stop cynically speculating, but the world is making it hard not to.
I do hope he's another Shkreli though, who annoyed the old money boomers with his ostentatious nouveau riche antics enough to become their poster-manchild for their "See? Bad things do (sometimes) happen to bad rich people!" campaigns.
SmoothIsFast@citizensgaming.com 11 months ago
Hate to break it to you, ftx’s biggest scam was in tokenized securities still being traded today and being used as free locates for market makers without any real shares backing these things. Wall Street is so fucking corrupt its not even funny.
fiat_lux@kbin.social 11 months ago
For sure. Which is one reason I expect house arrest is so likely. All it takes is for one of the major multiglobals to be in some scheme that the government has decided to crack down on, and there's your leverage in sentencing negotiation. It's why I've given up on the concept of rich people going to prison, there's always another fish they can offer up for frying, because billionaire social circles are tiny.
SmoothIsFast@citizensgaming.com 11 months ago
No he was creating free locates for market makers with tokenized securities that had no backing, that still haven’t been resolved and the equity swap data that could also show more fruadelent uses of this shit keeps getting delayed by the ctfc. He’s gonna get house arrest and nice service for his part in helping market makers fleece more people.