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A comment on SBF Written Testimony Notes 12/12/2022. Parent comment

Re:SBF Written Testimony Notes 12/12/2022 by temp2022acc on Wednesday December 14, 2022 @09:24AM (#33983848)
"raise billions to make customers whole" also still means fraud; he's taking investor money and giving it away. The purpose of invested funds is to improve the business, with a long-term goal of returning more than you were given to investors. Not doing that is the definition of securities fraud.
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Re:SBF Written Testimony Notes 12/12/2022 by Sebb767 on Wednesday December 14, 2022 @12:05PM (#33986410)
> "raise billions to make customers whole" also still means fraud; he's taking investor money and giving it away.

I think the means "take investor money, make customers whole, thereby restore FTX, raise the company value and then pay back investors", which is not fraud. That being said, I wouldn't put it beyond him anymore to publicly suggest defrauding investors.

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Re:SBF Written Testimony Notes 12/12/2022 by anonymoushn on Wednesday December 14, 2022 @12:31PM (#33986776)
Given the apparent identities of the investors, it's unlikely that he was misrepresenting his plans to them.
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