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A comment on Founder of crypto lender Celsius Network arrested, charged with fraud. Parent comment

Re:Founder of crypto lender Celsius Network arrested, charge... by gamblor956 on Thursday July 13, 2023 @06:53PM (#36717201)
So...the SEC didn't try to make you whole...it recovered about a third of the money you lost to the Ponzi scheme through a disgorgement order.

The SEC can order disgorgement of profits from an investment scam (which are then returned to victims to the extent such profits are recoverable), but making victims whole for their losses is a very different thing.

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Re:Founder of crypto lender Celsius Network arrested, charge... by jnwatson on Thursday July 13, 2023 @07:29PM (#36717489)
No, the SEC put the org in receivership and then appointed a receiver to find where the money went.
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Re:Founder of crypto lender Celsius Network arrested, charge... by fsckboy on Thursday July 13, 2023 @08:38PM (#36718016)
i'm not expert, but that's the court appointing the receiver, and a receiver takes over a company but looks out for creditor's interests.
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Re:Founder of crypto lender Celsius Network arrested, charge... by gamblor956 on Thursday July 13, 2023 @11:38PM (#36719209)
The point of the receivership was to recover the money for creditors, not investors. Investors are quite literally the last people who get a recovery from a receivership.

I'm not going to keep arguing with a non-lawyer about something I've been involved with as a lawyer, so this will be my last comment on the matter.

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Re:Founder of crypto lender Celsius Network arrested, charge... by jnwatson on Friday July 14, 2023 @01:07AM (#36719695)
While you are correct in the general sense, court-ordered receiverships due to SEC enforcement action are very much about recovering investor money in a fraud situation.

https://www.sec.gov/oiea/investor-alerts-bulletins/ib_receiv...

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