An explainer, by Ken White:
Sharpe
4418
That’s a great article.
In other words, in the federal system you start out with the presumption that you’ll be released on a mere promise to appear, and the magistrate judge adds more conditions or restrictions to the extent they think it’s necessary to make you appear for trial and prevent you from being a danger. For some crimes there’s a rebuttable presumption that you’re a flight risk and a danger — mostly drug crimes, violent crimes, and sex crimes, but not (as one might expect) white collar crimes involving vast amounts of money.
(bold added by me)
So that connects back to the soft treatment for white collar criminals discussion we had a few weeks back. I don’t know criminal law so I had no idea the preference was codified but Ken White lays it out in print: in federal court, white collar criminals are NOT legally presumed to be a flight risk even though from a common sense perspective their often vast money would make them flight risks. I could say maybe a dollar threshold but if you are accused of stealing over say 100K (or even more so, over a million) I think you may be a flight risk. And if you are accused to stealing many many many ,millions like SBF, you are definitely a flight risk.
sharaleo
4419
Spotted on the road yesterday.
I don’t know for sure, obviously, but my presumption was USDT was in reference to Tether and this turkey is living with the cognitive dissonance of buying and driving an eco-friendly car while crypto consumes more energy than small nations!
jpinard
4420
What state has a license plate that looks like that? There’s no tags or anything on it.
WA doesn’t stand for Washington in that plate. It stands for Western Austrlia.
sharaleo
4422
Yup, Perth, Western Australia. They are one of several custom plate designs our Dept of Transport has available for the requisite fees. Paid in FIAT to be sure…our government does not accept payment in delusion coins… :D
Timex
4424
Pretty sure they made a documentary about this already.
Menzo
4426
Oh my god. The irony. It burns.
“What the heck @FBI @ic3. Why can’t I reach anyone???” he wrote. “I paid those taxes and the police don’t care. What a scam.”
Is that an unexpected ruling? Isn’t it clear at this point that there are no protections for ‘account holder’ money in these unregulated Ponzi exchanges…?
I agree, I thought it would have been quite trite that the users do not stand in any better position than an unsecured creditor short of any fiduciary obligations or trust arrangements. But it’s $4.2B so I guess worth rolling the dice.
DoubleG
4430
Could the users sue the secured creditors?
I agree that if you invest your money in an unregulated scheme that promises a guaranteed 20% returns you should expect to lose your money. But from a general fairness perspective, it’s funny that the remaining money is going to venture capitalists that backed a business model that was just “run a Ponzi scheme.”
I haven’t read the terms of service, but this is being characterized as ‘deposits’, not ‘investments’. Perhaps that’s just a way they used to obscure what they were doing.
Genesis is the baby of the Winklevoss Twins of “The Facebook” fame (aka, the Winklevii).
Waaaaaaa
“I don’t uinderstand?! We stopped criming months ago!”
Over the last two weeks, Bitcoin has recovered from its normal post-crash level of $16k-ish to rise back above $20k.
Which surely must be based on market fundamentals and is not at all a new bubble based on market manipulation. To the moon!
So it turns out Peter Thiel cashed out his crytpo holdings before the crash last year.
