He was fined what he profitted from fraud that the judges agree he committed, plus interest. In what world is that excessive?
Wow… i saw the headlines but didn’t realize this was the case. Not even punitive fines. Literally this is the ABSOLUTE MINIMUM it could be without fraud being profitable.
“This bench today unanimously derails the effort to destroy his business,” the judge wrote.
The entire business was fraudulent, top to bottom, it SHOULD be dismantled. That’s like a judge whining that it’s unfair to put Al Capone out of business.
With this fine, it actually was profitable. Interest is always lower than what someone could actually earn on the funds if they just dropped it into some broad market ETF, or reinvested it to commit more fraud.
It’s ok, they just set a precident that if you steal $100 million or more, you won’t have to pay it back because ots more than your worth, and is excessive. Cool, anyone up to rob a bank?
Struck down due to the 8th amendment, which reads, in its entirety:
He was fined what he profitted from fraud that the judges agree he committed, plus interest. In what world is that excessive?
So, if you’re going to steal, steal $500 million or more, because then the government can’t take it back since that would be an excessive fine.
Wow… i saw the headlines but didn’t realize this was the case. Not even punitive fines. Literally this is the ABSOLUTE MINIMUM it could be without fraud being profitable.
Judge says voters gave him that money fair and square
The entire business was fraudulent, top to bottom, it SHOULD be dismantled. That’s like a judge whining that it’s unfair to put Al Capone out of business.
Actually… scratch that.
With this fine, it actually was profitable. Interest is always lower than what someone could actually earn on the funds if they just dropped it into some broad market ETF, or reinvested it to commit more fraud.
It’s great that our bill of rights only applies to the rich now.
Always has.
It’s ok, they just set a precident that if you steal $100 million or more, you won’t have to pay it back because ots more than your worth, and is excessive. Cool, anyone up to rob a bank?
You need to rob the banking system, not just one bank.