alt Hacker NewsThat is not how any of this works. He was convicted of fraud, and fraud was committed the moment he transferred the funds to Alameda. That he placed some bets that worked out, like his Anthropic investment, doesn't negate the crime any more than if I robbed a bank, placed a winning bet with it and returned the funds with interest.
Replies
root-parent • today at 3:38 PM
Proof you can graduate from MIT and still be completely dumb.
➕ show 1 reply
nullc • today at 3:44 PM
It's hardly even that-- he dumped the remaining customer assets to briefly crash the price of Bitcoin... causing an understatement in what he took from people.
tsunamifury • today at 3:19 PM
Except when you pay someone to manage your money.
Remember this.
➕ show 1 reply
I'm saying a Fraud conviction is not the same a stealing. I'm completely ok with a conviction for fraud, provided that the conviction and sentencing is based upon that fraud.
I would characterise robbing a bank, placing a bet and returning the funds as theft.
However if you entrusted me with $500 and I gambled and paid you back when you wanted the $500, I would not say that is theft. If I had promised not to gamble, then it would have been fraudulent.