This guys greed has opened the eyes of many people to the fraud that is still rampant in our markets.
Thanks Bill, I hope you rot in prison, whos next?
this post was submitted on 11 Jul 2024
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Do Ken Griffin next!
I bet you he faces less time than some woman who steals baby formula, or some dude caught with a gram of weed
Still, two billionaires in a few months being convicted of fraud by New York juries shows at least a little promise.
Being convicted is great. I just doubt theres a punishment, the conviction is just meaningless. A label that does not affect billionaires.
It doesn't say what it is, but I am guessing that there is a minimum sentence here that will apply no matter what. The maximum is 20 years per count according to the article, so I'm guessing even the minimum won't be great.
The question is whether or not he'll be able to appeal it. Same with Trump.
They left out the evil word: Gamestop
Hwangs bags of fraud were passed off to Credit Suisse who then went bankrupt, then they were bought by UBS at the behest of the Swiss govt.
SNB gave several billion to UBS in incentives, and then they locked away all the evil records for 50 years.
This situation is way bigger than Mr Hwang.