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Don't do the crime if you can't do the time...good riddance to that scum bag..and his virtue signaling bullshit...throw his highly educated idiot parents in the slammer with him too..kinda does a lot for the Stanford brand, no? (sarc)
His mother taught “legal ethics”. Father was on board of FTX and provided them with a lot of legal advice. I do not know but assume feds are looking at them too.
He was also convicted for witness tampering! Why didnt Momma sit down after things collapsed and warn him how the system worked?
But if were a corporate lawyer professor your kid became an overnight Billionaire wouldn’t you do some serious digging to make sure things were on the up and up? Ask little Johnny “Whose the compliance officer? Accountant? Risk Manager? “
guess not.
Even if they are never charged themselves, they must realize they could have prevented a lot of this and SBF will forever be a testament to their abilities as lawyers and parents.
This is probably a bigger blot on Stanford’s name than the resignation of the President for falsifying data.
But what do you expect of a place whose first President was almost certainly a murderer?
As part of his sentencing the Judge ordered SBF to forfeit $11B. Does SBF have assets in billions of $? He is a big shareholder in FTX and there is value in his FTX shares - investors are already itching to buy and restart the Exchange. It is clear that all customers and whoever was defrauded will be made whole from sale of his investments that have appreciated well (may be our fund managers can hire him as a subadvisor!). So, who is getting paid the $11B - US government? May be I should get hold of the court opinion and read it or just wait until the appeals process is finished.
Comments
He was also convicted for witness tampering! Why didnt Momma sit down after things collapsed and warn him how the system worked?
But if were a corporate lawyer professor your kid became an overnight Billionaire wouldn’t you do some serious digging to make sure things were on the up and up? Ask little Johnny “Whose the compliance officer? Accountant? Risk Manager? “
guess not.
Even if they are never charged themselves, they must realize they could have prevented a lot of this and SBF will forever be a testament to their abilities as lawyers and parents.
This is probably a bigger blot on Stanford’s name than the resignation of the President for falsifying data.
But what do you expect of a place whose first President was almost certainly a murderer?
Google “ Jane Stanford murder” on Wikipedia.
Let's see how his altruism philosophy helps live in Cell Block Three....