Interesting Articles...

[hvaces42]

I don't think anyone's arguing that lifetime sentences for financial crimes make sense.

its safe that we assume these guys will plead guilty and get jail time. They bankrupted no one as far as we know. What do we think they will get as far as sentencing? My guess is way more than what is needed as a deterrent. I'll guess 54 months. A year and a day would be plenty.

[Moshe123]

http://www.vox.com/culture/2016/12/30/14114306/ikea-shopping

Interesting

[zh cohen]

its safe that we assume these guys will plead guilty and get jail time. They bankrupted no one as far as we know. What do we think they will get as far as sentencing? My guess is way more than what is needed as a deterrent. I'll guess 54 months. A year and a day would be plenty.

As bad as prison is, there are a lot of people that would be willing to sit for a year for the millions that these guys stole. Especially if they have done of it attached away for when they get out.

[Ergel]

Behind every great fortune there is a great crime.

You would be shocked if you knew every secret that the investors that lost money with him hold. Every one of them, to a fault, has had something in their past. So I wouldnt be so quick to judge.

You're joking, right?

[JTZ]

Some people just don't get it. 
http://www.msn.com/en-us/news/us/lawsuit-dude-ranch-owner-asked-chef-for-black-people-food/ar-BBxNVYX?li=BBnbfcL

[TimT]

Some people just don't get it. 
http://www.msn.com/en-us/news/us/lawsuit-dude-ranch-owner-asked-chef-for-black-people-food/ar-BBxNVYX?li=BBnbfcL

Is Rickles a racist ?

[JTZ]

Is Rickles a racist ?

Do you mean Pickens?

[Dan]

Behind every great fortune there is a great crime.

You would be shocked if you knew every secret that the investors that lost money with him hold. Every one of them, to a fault, has had something in their past. So I wouldnt be so quick to judge.

That's ridiculous.

[hvaces42]

That's ridiculous.

Which part? The quote that is not mine or the truth in the fact that every one of the investors mentioned has skeletons.

[TimT]

Do you mean Pickens?

No, I mean Don

[JTZ]

No, I mean Don

What does he have to do with the article?

[ExGingi]

There will always be some people that don't think about the consequences of their actions until it's too late.
But without the threat there would be many more of these things happening.

As someone who has had past employers who did jail time, as well as current clients who got taken away in handcuffs, I have had a serious talk with my wife, and made a steadfast decision that there is absolutely no sum of money in the world that is worth having my children seeing, or knowing that their father was taken away in handcuffs (even if no time ends up spent behind bars).

[Dan]

As someone who has had past employers who did jail time, as well as current clients who got taken away in handcuffs, I have had a serious talk with my wife, and made a steadfast decision that there is absolutely no sum of money in the world that is worth having my children seeing, or knowing that their father was taken away in handcuffs (even if no time ends up spent behind bars).

Exactly why the deterrent works for most people.

[Ergel]

Which part? The quote that is not mine or the truth in the fact that every one of the investors mentioned has skeletons.

Both

[Moshe123]

http://mobile.nytimes.com/2017/01/01/arts/a-secret-jew-the-new-world-a-lost-book-mystery-solved.html

[yuneeq]

I can tell you personally that there are plenty of arbitrage and other arguably grey opportunities that come across my desk that I don't do because I have no interest in even a small chance of winding up in prison for 2 years like those Nordstrom cashback brothers...

From what I remember, the Nordstrom bros weren't doing anything grey.
It was clearly illegal and they did it on a huge scale.

[Dan]

From what I remember, the Nordstrom bros weren't doing anything grey.
It was clearly illegal and they did it on a huge scale.

And what about buying GCs to stores that return cash in order to earn rewards? Is that far off?

[Moshe123]

And what about buying GCs to stores that return cash in order to earn rewards? Is that far off?

How is it even close?

One is using a loophole that they can fix, the other is clear fraud when no purchase happened of anything.

[hvaces42]

And what about buying GCs to stores that return cash in order to earn rewards? Is that far off?

Thats money laundering. Not grey at all. Anything they want to make into a crime they can. Electronic transaction = wire fraud.

[yuneeq]

And what about buying GCs to stores that return cash in order to earn rewards? Is that far off?

IIUC, isn't it pretty much the same thing?
The only difference is volume, do it on a big scale and you'll eventually get caught.