Author Topic: Interesting Articles...  (Read 1438018 times)

Offline hvaces42

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Re: Interesting Articles...
« Reply #5760 on: January 02, 2017, 11:29:29 AM »
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.
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Offline Moshe123

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Re: Interesting Articles...
« Reply #5761 on: January 02, 2017, 12:22:10 PM »

Offline zh cohen

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Re: Interesting Articles...
« Reply #5762 on: January 02, 2017, 12:23:24 PM »
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.

Offline Ergel

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Re: Interesting Articles...
« Reply #5763 on: January 02, 2017, 12:42:05 PM »
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?
Life isn't about checking the boxes. Nobody cares.

Offline JTZ

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"LESS IS MORE" It is the cumulative effect that kills deals!!! How many times do I have to say this?  >:(

Offline TimT

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Offline JTZ

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Re: Interesting Articles...
« Reply #5766 on: January 02, 2017, 01:05:09 PM »
Is Rickles a racist ?
Do you mean Pickens?
"LESS IS MORE" It is the cumulative effect that kills deals!!! How many times do I have to say this?  >:(

Offline Dan

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Re: Interesting Articles...
« Reply #5767 on: January 02, 2017, 01:08:14 PM »
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.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline hvaces42

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Re: Interesting Articles...
« Reply #5768 on: January 02, 2017, 01:19:22 PM »
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.
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Offline TimT

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Re: Interesting Articles...
« Reply #5769 on: January 02, 2017, 01:19:38 PM »
Do you mean Pickens?
No, I mean Don

Offline JTZ

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Re: Interesting Articles...
« Reply #5770 on: January 02, 2017, 01:20:28 PM »
No, I mean Don
What does he have to do with the article?
"LESS IS MORE" It is the cumulative effect that kills deals!!! How many times do I have to say this?  >:(

Offline ExGingi

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Re: Interesting Articles...
« Reply #5771 on: January 02, 2017, 01:32:41 PM »
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).
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline Dan

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Re: Interesting Articles...
« Reply #5772 on: January 02, 2017, 01:36:22 PM »
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.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline Ergel

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Re: Interesting Articles...
« Reply #5773 on: January 02, 2017, 04:01:44 PM »
Which part? The quote that is not mine or the truth in the fact that every one of the investors mentioned has skeletons.
Both
Life isn't about checking the boxes. Nobody cares.

Offline Moshe123

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Offline yuneeq

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Re: Interesting Articles...
« Reply #5775 on: January 02, 2017, 06:50:40 PM »
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.

Offline Dan

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Re: Interesting Articles...
« Reply #5776 on: January 02, 2017, 06:59:58 PM »
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?
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline Moshe123

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Re: Interesting Articles...
« Reply #5777 on: January 02, 2017, 07:21:48 PM »
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.

Offline hvaces42

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Re: Interesting Articles...
« Reply #5778 on: January 02, 2017, 07:22:02 PM »
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.
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Offline yuneeq

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Re: Interesting Articles...
« Reply #5779 on: January 02, 2017, 08:29:57 PM »
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.