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by vkou
968 days ago
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> Can they instruct the jury in some manner harmful to you as a result of your obvious malign intent? Etc.. The judge doesn't need to do anything, the jury should have no problem putting two and two together on their own. Someone who makes up an elaborate story, but can't recall any of the details when cross-examined looks guilty as sin. |
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If SBF doesn't go down & spend time behind bars, its going to open the gates to a lot more fraud.
SBF did things that would make even the worst Wall St actors from the GFC blush. No arcane accounting/valuation rules, risk models, capital requirement arb, regulatory capture, misaligned incentives, loose prop trading rules.. letter of law vs spirit of law stuff, etc.
SBF committed the most open, direct, simple to understand version of all the fraud people imagined behind the GFC. Primarily he moved a substantial portion of customer deposits into prop trading accounts and then lost the money by trading poorly.
He literally lied about things like having insurance, seemingly didn't keep any true books & records (and asked for 7 variations of a balance sheet to find one that looked least bad).
You have emails where his dad that he hired as legal is approving transfers of customers money for uses like buying his parents a condo, lol.