[therealcamino]

Those are separate issues -- whether crimes were committed, and whether depositors will be made whole eventually. If some of the bets they illegally made end up paying off, enough to reimburse the people who trusted them, that doesn't mean it was legal or ok to take that money to make their own bets with in the first place.

And while John Ray did say they were bad at record keeping, he also said that “This is just old fashioned embezzlement, taking money from others and using it for your own purposes,” he said. “This is not sophisticated at all.”