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.
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.