Of going broke? Hearing that there will be an $11B Class Action Suit brought against the company and that Tom Brady and Steph Curry will be also named in this litigation.
But no clue why Sam isn’t already behind bars let alone still on media
because prosecutions take time, especially since the government has to prove guilt beyond a reasonable doubt and the defendant is entitled to the presumption of innocence.
But no clue why Sam isn’t already behind bars let alone still on media
because prosecutions take time, especially since the government has to prove guilt beyond a reasonable doubt and the defendant is entitled to the presumption of innocence.
Its a civil suit isn't it ?Guilt beyond reasonable doubt isn't the standard, preponderance of evidence is. A suit certainly isn't going to help them get any other endorsements.
They have great lawyers and I'm sure they're indemnified in their deals.
How does an indemnity work?
A company agrees that if you suffer a financial loss, they will cover you for it.
What happens if that company has no assets with which to pay your losses…..
An FTX indemnity is worth almost nothing, their indemnity would probably an unsecured creditor claim that will receive pennies on the dollar.
That said, they probably have relatively limited liability as paid spokespeople. Lawyers can tell me - does a paid spokesperson have any duty to understand what they are promoting? They could probably argue they were just as deceived/victimized by the fraud.
But no clue why Sam isn’t already behind bars let alone still on media
because prosecutions take time, especially since the government has to prove guilt beyond a reasonable doubt and the defendant is entitled to the presumption of innocence.
Its a civil suit isn't it ?Guilt beyond reasonable doubt isn't the standard, preponderance of evidence is. A suit certainly isn't going to help them get any other endorsements.
I think customers and creditors getting their money back might be a civil suit. But a $10bn financial fraud case would certainly be criminal.
They have great lawyers and I'm sure they're indemnified in their deals.
How does an indemnity work?
A company agrees that if you suffer a financial loss, they will cover you for it.
What happens if that company has no assets with which to pay your losses…..
An FTX indemnity is worth almost nothing, their indemnity would probably an unsecured creditor claim that will receive pennies on the dollar.
That said, they probably have relatively limited liability as paid spokespeople. Lawyers can tell me - does a paid spokesperson have any duty to understand what they are promoting? They could probably argue they were just as deceived/victimized by the fraud.
A spokesperson is not a profit partner or responsible for executive management, and I'm sure it's standard in all these deals that they're just spokespeople and immune from any fraud.
internet tough guys sniff out conspiracy but refuse to reveal details of what they suspect. always entertaining.
Someone is projecting again....tough? what makes anything anyone said here an "internet tough guy". If you feel physically inferior to others or you can somehow tell other people's toughness through their words then you should get some mental or psychiatric help. there are many resources out there to help you cope with your insecurities.
it's sad in this era people still live with all that angst and anxiety bottled up.
I did not share my opinion due to site rules and I made that clear, people, if they are adult, can conclude what they want or move on.
you can choose for yourself, though I'm pretty sure with your revealed insecurity how you will choose.
I will leave you with the advice I give my young adult children "make good choices"
From what I've read, the forensics will be historically tough to put together because of the lack of governance and standard controls in the business.
Financial crimes, especially corporate financial crimes are a meticulous and often lead to lengthy investigations. And then there's the matter of the corporate officers and the corporation not being based in the US.
The characters who do not narc will be the ones who go down, and they'll be toppled by those that do. This whole disaster is less than a month old. No one being behind bars yet isn't a surprise.
the case has to be investigated and evidence found for a crime such as embezzlement, money laundering, intentional false advertising, giving false or misleading statements, amongst others.
Somethings are civil - fiduciary failures.
There are also needs to be extradition requirements and agreements between countries.
It seems pretty clear that there was embezzlement, but the prosecutors need a pretty solid case before filing and indicting.
I am sure Bahamian authorities will eventually arrest him and seize his properties - I would guess there are Bahamians that invested in FTX.
Is it different if the Athlete or the Celebrity had ownership of FTX without divulging their ownership ?
If they were paid sponsors I believe that there are laws limiting their liability. However, I wonder if they have ownership / stock in the company and do not divulge their interests if they have some liability?
I know that wealth managers who are on TV must divulge their companies and their own personal positions.
From what I've read, the forensics will be historically tough to put together because of the lack of governance and standard controls in the business.
Financial crimes, especially corporate financial crimes are a meticulous and often lead to lengthy investigations. And then there's the matter of the corporate officers and the corporation not being based in the US.
The characters who do not narc will be the ones who go down, and they'll be toppled by those that do. This whole disaster is less than a month old. No one being behind bars yet isn't a surprise.
It’s been reported that he use customer deposits at FTX to fund Alameda research. that’s an open and shut case of fraud.
Even if it is true, you need actual evidence. You can't just show up to court and say, "Look at this Twitter thread, your honor. This dude is totally guilty"
I'm pretty sure the FBI is gearing up to give everyone even remotely involved with this a financial colonoscopy. Then they'll be arrested.
But no clue why Sam isn’t already behind bars let alone still on media
Um really? Look who made out from his scam. Same reason we don’t have the list of Epstein’s clients. And if we wanted him bad enough he’d be here. He’s bought himself a lot of protection here and in the Bahamas.
He’s never going to face the music IMO. Our DOJ doesn’t care
That said, they probably have relatively limited liability as paid spokespeople. Lawyers can tell me - does a paid spokesperson have any duty to understand what they are promoting? They could probably argue they were just as deceived/victimized by the fraud.
Being paid for promotion puts them under no risk at all. Only two things would make them vulnerable: 1) they have some involvement with the running of the company, such as being on the board of directors. 2) They were major investors in FTX and thus acting as touts for it.
But no clue why Sam isn’t already behind bars let alone still on media
Um really? Look who made out from his scam. Same reason we don’t have the list of Epstein’s clients. And if we wanted him bad enough he’d be here. He’s bought himself a lot of protection here and in the Bahamas.
He’s never going to face the music IMO. Our DOJ doesn’t care
Why did she pay a fine if celebrities are just spokespeople ? What was different about her situation; for sure she had big time counsel.
Because she promoted crypto on her IG without disclosing that she was being paid to do so. If you're making a TV commercial, it's generally understood that you're being compensated.
But no clue why Sam isn’t already behind bars let alone still on media
Um really? Look who made out from his scam. Same reason we don’t have the list of Epstein’s clients. And if we wanted him bad enough he’d be here. He’s bought himself a lot of protection here and in the Bahamas.
He’s never going to face the music IMO. Our DOJ doesn’t care
Quote:
But no clue why Sam isn’t already behind bars let alone still on media
because prosecutions take time, especially since the government has to prove guilt beyond a reasonable doubt and the defendant is entitled to the presumption of innocence.
Supposedly a sum of money was transferred to the Bahamian government which has bought him some protection.
How does an indemnity work?
A company agrees that if you suffer a financial loss, they will cover you for it.
What happens if that company has no assets with which to pay your losses…..
An FTX indemnity is worth almost nothing, their indemnity would probably an unsecured creditor claim that will receive pennies on the dollar.
That said, they probably have relatively limited liability as paid spokespeople. Lawyers can tell me - does a paid spokesperson have any duty to understand what they are promoting? They could probably argue they were just as deceived/victimized by the fraud.
Quote:
In comment 15919462 MetsAreBack said:
Quote:
But no clue why Sam isn’t already behind bars let alone still on media
because prosecutions take time, especially since the government has to prove guilt beyond a reasonable doubt and the defendant is entitled to the presumption of innocence.
Its a civil suit isn't it ?Guilt beyond reasonable doubt isn't the standard, preponderance of evidence is. A suit certainly isn't going to help them get any other endorsements.
I think customers and creditors getting their money back might be a civil suit. But a $10bn financial fraud case would certainly be criminal.
Really, no clue? I think you have some idea why. I won't give my opinion because the thread will be deleted, but it's pretty obvious.
Quote:
They have great lawyers and I'm sure they're indemnified in their deals.
How does an indemnity work?
A company agrees that if you suffer a financial loss, they will cover you for it.
What happens if that company has no assets with which to pay your losses…..
An FTX indemnity is worth almost nothing, their indemnity would probably an unsecured creditor claim that will receive pennies on the dollar.
That said, they probably have relatively limited liability as paid spokespeople. Lawyers can tell me - does a paid spokesperson have any duty to understand what they are promoting? They could probably argue they were just as deceived/victimized by the fraud.
A spokesperson is not a profit partner or responsible for executive management, and I'm sure it's standard in all these deals that they're just spokespeople and immune from any fraud.
Quote:
But no clue why Sam isn’t already behind bars let alone still on media
Really, no clue? I think you have some idea why. I won't give my opinion because the thread will be deleted, but it's pretty obvious.
Ding ding ding! (Some fuckery is afoot)
Someone is projecting again....tough? what makes anything anyone said here an "internet tough guy". If you feel physically inferior to others or you can somehow tell other people's toughness through their words then you should get some mental or psychiatric help. there are many resources out there to help you cope with your insecurities.
it's sad in this era people still live with all that angst and anxiety bottled up.
I did not share my opinion due to site rules and I made that clear, people, if they are adult, can conclude what they want or move on.
you can choose for yourself, though I'm pretty sure with your revealed insecurity how you will choose.
I will leave you with the advice I give my young adult children "make good choices"
good talk.
Financial crimes, especially corporate financial crimes are a meticulous and often lead to lengthy investigations. And then there's the matter of the corporate officers and the corporation not being based in the US.
The characters who do not narc will be the ones who go down, and they'll be toppled by those that do. This whole disaster is less than a month old. No one being behind bars yet isn't a surprise.
Somethings are civil - fiduciary failures.
There are also needs to be extradition requirements and agreements between countries.
It seems pretty clear that there was embezzlement, but the prosecutors need a pretty solid case before filing and indicting.
I am sure Bahamian authorities will eventually arrest him and seize his properties - I would guess there are Bahamians that invested in FTX.
If they were paid sponsors I believe that there are laws limiting their liability. However, I wonder if they have ownership / stock in the company and do not divulge their interests if they have some liability?
I know that wealth managers who are on TV must divulge their companies and their own personal positions.
Financial crimes, especially corporate financial crimes are a meticulous and often lead to lengthy investigations. And then there's the matter of the corporate officers and the corporation not being based in the US.
The characters who do not narc will be the ones who go down, and they'll be toppled by those that do. This whole disaster is less than a month old. No one being behind bars yet isn't a surprise.
It’s been reported that he use customer deposits at FTX to fund Alameda research. that’s an open and shut case of fraud.
Even if it is true, you need actual evidence. You can't just show up to court and say, "Look at this Twitter thread, your honor. This dude is totally guilty"
I'm pretty sure the FBI is gearing up to give everyone even remotely involved with this a financial colonoscopy. Then they'll be arrested.
Um really? Look who made out from his scam. Same reason we don’t have the list of Epstein’s clients. And if we wanted him bad enough he’d be here. He’s bought himself a lot of protection here and in the Bahamas.
He’s never going to face the music IMO. Our DOJ doesn’t care
That said, they probably have relatively limited liability as paid spokespeople. Lawyers can tell me - does a paid spokesperson have any duty to understand what they are promoting? They could probably argue they were just as deceived/victimized by the fraud.
Being paid for promotion puts them under no risk at all. Only two things would make them vulnerable: 1) they have some involvement with the running of the company, such as being on the board of directors. 2) They were major investors in FTX and thus acting as touts for it.
Quote:
But no clue why Sam isn’t already behind bars let alone still on media
Um really? Look who made out from his scam. Same reason we don’t have the list of Epstein’s clients. And if we wanted him bad enough he’d be here. He’s bought himself a lot of protection here and in the Bahamas.
He’s never going to face the music IMO. Our DOJ doesn’t care
FTX Faces US Justice Department Probe: Report - ( New Window )
Because she promoted crypto on her IG without disclosing that she was being paid to do so. If you're making a TV commercial, it's generally understood that you're being compensated.
Quote:
But no clue why Sam isn’t already behind bars let alone still on media
Um really? Look who made out from his scam. Same reason we don’t have the list of Epstein’s clients. And if we wanted him bad enough he’d be here. He’s bought himself a lot of protection here and in the Bahamas.
He’s never going to face the music IMO. Our DOJ doesn’t care
lmao