Re:Elizabeth Holmes found guilty
by bellyfullofbac on Monday January 03, 2022 @08:15PM
(#29789748)
Iirc with Fyre Festival the dude got convicted of wire fraud for defrauding an investor, not for selling tickets to a sham festival. The joke was, screw the small people, that's fine, screw a rich investor, that's when you go to jail...
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Re:Elizabeth Holmes found guilty
by mardifoufs on Monday January 03, 2022 @08:44PM
(#29790057)
It's more that wire fraud can cover pretty much anything, making it a lot easier for the feds to get a conviction. Plus, the charges weren't related to the festival or its investors; it was for a whole different scammy "venture."
I'm not even sure they could be criminally charged for a sham festival since the festival did actually happen. I'd imagine that the whole thing turning out to be a complete wreck would probably be something that could be handled in a civil case.
"Everything is securities fraud"
https://www.bloomberg.com/opinion/articles/2019-06-26/everyt...