submitted 6 months ago by L4s@lemmy.world to c/technology@lemmy.world

FBI indicts three in insider trading scheme that utilized Xbox 360 chat to hide comms | Ringleader could be looking at as much as 165 years in prison::undefined

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[-] camr_on@lemmy.world 97 points 6 months ago
[-] AntiHeroChris@lemmy.world 8 points 6 months ago


[-] bernieecclestoned@sh.itjust.works 80 points 6 months ago* (last edited 6 months ago)

165 years for white collar crime, no fucking chance

They only made $322k, that's nothing.

What did the Enron guys get?

[-] Appoxo@lemmy.dbzer0.com 58 points 6 months ago

They didnt make enough money to receive a lesser sentence.

[-] sock@lemmy.world 20 points 6 months ago

yeah that's insane that murder is like we might put u in jail but you'll be released in a couple years

fuckin 20 bucks is stolen and that's an instant 100 year sentence

[-] CaptainPedantic@lemmy.world 7 points 6 months ago

Skilling got 24 years which was reduced to 14 in 2013. Lay was convicted of crimes that have a max sentence of 45 years, but died before sentencing.

[-] lightnsfw@reddthat.com 7 points 6 months ago

They're probably not rich.

[-] gravitas_deficiency@sh.itjust.works 59 points 6 months ago

HEY! You stole money from the people who have lots of money! THAT’S MORE ILLEGAL THAN ALL THE OTHER STUFF!

[-] TwoGems@lemmy.world 43 points 6 months ago

I like the part where it's like a zillion times more illegal than trying to overthrow democracy. The USA "justice system" is a joke.

[-] Lemonparty@lemm.ee 34 points 6 months ago

Ironically, Viggiano and his team from the University of Tampa won a 2018 ethics competition

Best part of the article.

[-] lotophage@lemmy.ml 33 points 6 months ago

Salamone tried to keep the lion's share for himself and undid them all by recording the conversations. Conspiracies sure would be a lot more popular if everyone involved wasn't a scumbag.

[-] the_dopamine_fiend@lemmy.world 10 points 6 months ago

I like what Robert Anton Wilson had to say about conspiracies and their life cycles:

"[A]s far as I’ve been able to discover in all my years of being involved, more or less unwillingly, in this field, I cannot find any proof of any conspiracy that really existed, was really brought into court and convicted, that lasted more than ten years before everybody double-crossed everybody else and the conspiracy fell apart."

[-] DaPorkchop_@lemmy.ml 9 points 6 months ago

In fairness, there has to be some survivorship bias here: if the members of a conspiracy don't double-cross each other and are competent enough not to expose themselves, it's a lot less likely they'd ever get brought into court in the first place.

[-] the_dopamine_fiend@lemmy.world 1 points 6 months ago

Agreed, and I suppose it's the ones we don't hear about that are the real bad ones.

[-] sugarfree@lemmy.world 33 points 6 months ago

Points for creativity, I guess? I'm pretty sure a Goldman Sachs analyst can figure out how to do it properly, though...

[-] jet@hackertalks.com 11 points 6 months ago

Fun fact, personal cell phones on the trading floor arnt allowed, to avoid unlogged comms by traders.

[-] remotelove@lemmy.ca 12 points 6 months ago

Aren't trading floors mostly empty these days since trading is much more automated?

[-] jet@hackertalks.com 15 points 6 months ago* (last edited 6 months ago)

Yes, but as long as human traders exist, there is a need to log all of their communication to prevent malfeasance

[-] linucs@lemmy.ml 2 points 6 months ago* (last edited 6 months ago)

They just copied the idea from terrorists

[-] fat_stig@lemmy.world 6 points 6 months ago

Rubber dinghy rapids bro

this post was submitted on 03 Oct 2023
251 points (98.8% liked)


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