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by imcoconut 2058 days ago
Correct. I do believe what they did was quite evil, and they should be disgorged of all profits - and if that bankrupts them then all the better. While 8.3bn is still not the 11bn they made in profits, it's still significantly more than 225mn. The headline is misleading.
2 comments

They, personally, are paying 225 million.

The company, of which they likely will not retain control, is settling for ~8billion.

Importantly, the company itself DOES NOT HAVE THAT MUCH MONEY. It is expected to pay it off over time, assuming it remains solvent.

The Sacklers, on the other hand, have drained nearly 10 billion dollars from the company account into their personal estate, and are retaining all but 225 million of it.

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My hot take - They can keep the fucking money, let them buy as much ramen from the prison commissary as they'd like.

I see, thanks for the correction. I agree with your hot take.
Incorrect- the family has already drained $10.7B from the company and are only being fined $225M themselves- they are not responsible for any other portion of the $8.3B.

The family will lose control of the company in bankruptcy but they knew this was coming and drained it ahead of time. DoJ is letting them get away with it.

I see, thanks for the correction. I thought the I guess if they wholly owned the company then legally they should be allowed to transfer the cash/profits, generally speaking. But if there was ongoing prosecution and they did it specifically to avoid having to actually pay the 8.3bn bill being stuck with the company then that definitely sounds illegal. If they transferred the profits to personal accounts then they should still be personally liable for all of it.