SEC Charges Samuel Bankman-Fried with Defrauding Investors in FTX [pdf]

Re:SEC Charges Samuel Bankman-Fried with Defrauding Investor... by phphphphp on Tuesday December 13, 2022 @09:14AM (#33969109)

Setting aside the arguments to be made for/against the idea, and focusing on the implementation instead: most investments are handled through some sort of limited liability vehicle and so even if the “investor” was held responsible it would not necessarily impact the human(s) that stood to gain.

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Re:SEC Charges Samuel Bankman-Fried with Defrauding Investor... by zeroonetwothree on Tuesday December 13, 2022 @09:45AM (#33969494)

I suppose we need some criminal law in that case.

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Re:SEC Charges Samuel Bankman-Fried with Defrauding Investor... by beefield on Tuesday December 13, 2022 @10:31AM (#33970137)

At a minimum, tax code should be changed to discourage limited liability corporation forms. Personally I'd also like to see that limited liability as a concept would be forbidden in many/most industries/cases. In Brazil the management and owners of a bank may be held liable if bank fails even without wrongdoing. And I think there has not been many failing banks in Brazil...

https://www.economist.com/finance-and-economics/2013/05/04/b...

(Paywall, check google cache)

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