Martin Shkreli bound for jail after judge revokes his $5M bail

Page 3 - Seeking answers? Join the AnandTech community: where nearly half-a-million members share solutions and discuss the latest tech.
Toggle sidebar Toggle sidebar
hal2kilo

hal2kilo

Lifer
Feb 24, 2009
23,437
10,330
136
paperfist said:
He is and I'll admit to not knowing a whole lot about the situation, but being a capitalist is illegal now? He's on the next episode of American Greed, can't wait to see it.

How did he come up with enough money to buy said drugs he raise 5000% in price?
Click to expand...
The fraud that is causing him to be in jail.
 
Blackjack200

Blackjack200

Lifer
May 28, 2007
15,995
1,685
126
Darwin333 said:
So wait, he took his own profits to pay off people from a failed venture?
Click to expand...

I should have phrased it this way:

He took some of his investors' returns from a successful venture and gave it to investors of an earlier failed venture.

That's not the whole story though either. The reason he did that was because he had defrauded those original investors.

As an extremely rough analogy, it's like if I stole money from you, then I hit the lottery in an office pool, I lied to the pool about how much money they were each entitled to, and took a piece of what should have been theirs to restore the money I originally stole. And as @fskimospy pointed out, did that not out of a warped sense of fairness, but only so that you wouldn't notice the money was gone.

It's still more complicated than that though, since the only reason the second set of investors invested with him was because of the original fraud.
 
Blackjack200

Blackjack200

Lifer
May 28, 2007
15,995
1,685
126
fskimospy said:
According to the court Shkreli is responsible for more than $10 million in losses. 1 year per million dollars you cost people sounds more than fair to me.

https://www.reuters.com/article/us-...0-4-million-in-losses-u-s-judge-idUSKCN1GA2DB
Click to expand...

Why? What does that accomplish? Vengeance? Is that how we want to do things?


Eventually paying people back after they become suspicious that you are defrauding them is no defense at all.
Click to expand...

Yeah, I didn't mean to defend him but rereading my earlier post it seems like I did. I don't deny that what he did was wrong, illegal, and he should go to jail for it.

And this is not directed at you, but no, he should not be sexually assaulted there.

It should. If people don't have to obey the courts then we're all screwed.
Click to expand...

I don't see much moral legitimacy in our courts anymore, that's my only point.
 
F

fskimospy

Elite Member
Mar 10, 2006
84,055
48,054
136
Blackjack200 said:
Why? What does that accomplish? Vengeance? Is that how we want to do things?
Click to expand...

No, but something coming closer to parity with crimes that deprive people of far less. I mean there are plenty of crimes you can get 10 years in jail for that do far less damage than taking $10 million from them. It bothers me that white collar crime is treated so much more lightly.

Yeah, I didn't mean to defend him but rereading my earlier post it seems like I did. I don't deny that what he did was wrong, illegal, and he should go to jail for it.

And this is not directed at you, but no, he should not be sexually assaulted there.
Click to expand...

No argument there as we are sentencing him to confinement, not rape. It's disturbing to me when people seem to relish the thought of prisoners being raped as opposed to being horrified by it. If you really want prisoners to be raped, try and change the law to mandate them being raped and see how far you get.

I don't see much moral legitimacy in our courts anymore, that's my only point.
Click to expand...

I'm not really worried about the morality of our courts so much as their efficacy.
 
D

Darwin333

Lifer
Dec 11, 2006
19,946
2,328
126
GagHalfrunt said:
The same way if works everywhere else. Are you under the silly impression that prisons are drug-free zones?
Click to expand...

Ahh, I see where you were going with that, sorry your point went straight over my head. I still think he just has some seriously good "oral" skills.
 
D

Darwin333

Lifer
Dec 11, 2006
19,946
2,328
126
Blackjack200 said:
I should have phrased it this way:

He took some of his investors' returns from a successful venture and gave it to investors of an earlier failed venture.

That's not the whole story though either. The reason he did that was because he had defrauded those original investors.

As an extremely rough analogy, it's like if I stole money from you, then I hit the lottery in an office pool, I lied to the pool about how much money they were each entitled to, and took a piece of what should have been theirs to restore the money I originally stole. And as @fskimospy pointed out, did that not out of a warped sense of fairness, but only so that you wouldn't notice the money was gone.

It's still more complicated than that though, since the only reason the second set of investors invested with him was because of the original fraud.
Click to expand...

Yeah, that is fucked up and regardless if the investors technically didn't lose anything because they got their initial investment back they were still stolen from.
 
D

Darwin333

Lifer
Dec 11, 2006
19,946
2,328
126
Blackjack200 said:
Why? What does that accomplish? Vengeance? Is that how we want to do things?
Click to expand...

I'd say that one segment of society that lengthy jail sentences would actually deter is rich people. Hell I'd steal $10M if the only risk was 18 months in jail or less, I don't know many people that wouldn't.

In my state, and I'm sure it's similar in most others, you can get 12 years for simple burglary but a guy that steals $10M a 10 year sentence is excessive?
 
Fanatical Meat

Fanatical Meat

Lifer
Feb 4, 2009
34,577
15,794
136
Darwin333 said:
Yeah, that is fucked up and regardless if the investors technically didn't lose anything because they got their initial investment back they were still stolen from.
Click to expand...

Problem is he shorted one company to conceal a loss at another. So if I’m a bank or investor in the profitable company I took a hit. What happened to the 10 million for the first company, if I’m an investor or bank I bought in or gave a loan to an organization that isn’t as solid as reported.
 
MomentsofSanity

MomentsofSanity

Lifer
Jan 25, 2011
16,591
8,674
146
allisolm

allisolm

Elite Member
Administrator
Jan 2, 2001
24,986
4,322
136
They haven't decided which prison he'll go to. Will it be a Club Fed or a FPMITA prison? The Federal Bureau of Prisons gets to choose.
 
UberNeuman

UberNeuman

Lifer
Nov 4, 1999
16,937
3,087
126
allisolm said:
They haven't decided which prison he'll go to. Will it be a Club Fed or a FPMITA prison? The Federal Bureau of Prisons gets to choose.
Click to expand...


Lol. S-Dawg needs to hit the max to show them bitches who the real balla is!
 
Last edited:
MtnMan

MtnMan

Diamond Member
Jul 27, 2004
8,751
7,867
136
Trump can't pardon him until he is officially sentenced, I suspect. He is Trump's "kind of people", a scumbag.
 
JEDIYoda

JEDIYoda

Lifer
Jul 13, 2005
33,981
3,318
126
You must log in or register to reply here.

TRENDING THREADS

COMPANY
RESOURCES
FOLLOW
Top Bottom