Hacker News new | ask | show | jobs
by goatinaboat 2510 days ago
Madoff stole from his own social class, which is a big no-no.

I don’t think that analysis tells the whole story. Elizabeth Holmes got away with a slapped wrist despite defrauding some very, very powerful people.

Whereas Shkreli got jail despite returning every penny to his investors.

3 comments

> Elizabeth Holmes got away with a slapped wrist despite defrauding some very, very powerful people.

Holmes hasn't gotten away with anything yet. She's been indicted on federal charges, and the trial is expected to begin in 2020. She could end up in prison.

https://en.wikipedia.org/wiki/Elizabeth_Holmes#Criminal_char...

Shkreli didn't "return every penny to his investors". He stole money from one group to pay another group. Yes all of his investors ended up in the green eventually (because some underlying businesses were profitable), but that doesn't change the fact that he defrauded a lot of people and not "every penny" was paid back.

For example, if you invest money in a profitable business and the CEO skims a little bit off the top, you might end up making money despite that you were defrauded off some of your gains.

Technically Elizabeth Holmes hasn't yet gone to trial. The consequences for her aren't quite decided on yet.