Billy Waters sentenced to 5 years - a lot of time for a 65 year old guy

[Sidewinder]

yeah obv 40m is a lot of money but he made this over 8 years so the extra 5m a year is relatively small when the article says he had "$175 million in earnings from 2011 to 2015."

Let's talk net worth. I mean is he a fucking billionaire? No chance in hell. Is he even a 500 millionaire? Extremely doubtful. Let's say he has 500m anyway which I HIGHLY doubt. (as I in would put my life on it he isn't worth that much) 40m extra is STILL a lot of money.

He is almost for sure a billionaire. Reputable people I know that that know him claim he is.

He is truly an unbelievable hustler, worthy of rsepect in a lot of ways. I don't think he ever thought the Deans Food idiot would rat him out.

He is for sure worth 500 million. Just sold the Oakland Raiders the land for their stadium. LOL - interesting no one in the papers talked about that

[michael]

Why the jail time?

Why not just take the profit he made and an additional fine?

[abrown83]

Why the jail time?

Why not just take the profit he made and an additional fine?

Because Securities Fraud puts whole stock market at risk, and the punishments are in place to properly prevent people from doing that.

[Brittney Griner's Clit]

bumping back a few of the more popular threads I buried to page 2.

[Tellafriend]

Bloomberg News
September 20, 2017 - 7:47 pm

*
Las Vegas gambler Bill Walters, who’s scheduled to report to prison next month, was ordered to forfeit $25.4 million in illegal insider-trading gains.
Walters, 71, was convicted in April of trading on illicit tips he got from his golf buddy, former Dean Foods Co. Chairman Tom Davis. He’s scheduled to report to prison Oct. 10 to begin a five-year sentence. Walters is appealing the conviction and prison sentence.
U.S. District Judge Kevin Castel on Wednesday ordered Walters to forfeit the money after finding it could be traced to his illegal trades.
The case entangled pro golfer Phil Mickelson, who wasn’t accused of wrongdoing but agreed to pay back almost $1 million he earned trading on information he got from Walters.

[LarryLaffer]

Sentenced to 5 years

will do 2 and change.

Does this man look like someone who is gonna run amok in prison (country club or not) and not get time off for good behavior?


edit:

i see he's appealing both the conviction and the sentence which is standard. Still, 'ol boy will do time, but not the full 5 years c'mon.


edit:
consider this as well: in the USA for grand theft auto you get a maximum of 3 years, and this guy steals millions and gets 5 years. talk about a fair legal system

[big dick]

white collar crime punishment is a fucking joke

[Sanlmar]

white collar crime punishment is a fucking joke

Micon & The Wolf of Wall Street, Jordan Belfort.

Belfort got like 5 years. Oops maybe only 2 yrs. Scamming the Australians now. He's a gift that keeps on giving.

Micon will be winging his way to Antigua soon to entertain and impress. Micons wife a new spokeswoman for Antigua hurricane relief is a sign the narrative is still in play.

Embrace it. If you decide not to profit from the +EV opportunity directly then allow yourself to be entertained

This fact of life has been the one constant through every single fraud topic that Druff has latched onto - particularly gambling related. Yet light regulation is still a thing in the face of all evidence. The idealism and naiveté keeps him young.

[Charham]

white collar crime punishment is a fucking joke

Micon & The Wolf of Wall Street, Jordan Belfort.

Belfort got like 5 years. Scamming the Australians now. He's a gift that keeps on giving.

Micon will be winging his way to Antigua soon to entertain and impress. Micons wife a new spokeswoman for Antigua hurricane relief is a sign the narrative is still in play.

Embrace it. If you decide not to profit from the +EV opportunity directly then allow yourself to be entertained

This fact of life has been the one constant through every single fraud topic that Druff has latched onto - particularly gambling related. Yet light regulation is still a thing in the face of all evidence. The idealism and naiveté keeps him young.

your mention of Jordan prompted a quick google search, check this funny front page of my google search find, wha wha what!1?? too funny: :http://jewishnews.timesofisrael.com/...men-worth-200/

[Sanlmar]

Micon fragrance line

Jordan Belfort was Jewish. I'll be damned... he won't be though

In hindsight, what would have blown PFA into the the upper tiers of poker forums would have been Druff having the foresight to applaud and honor the success of the fraudsters in an ironical way.

Maybe Druff really didn't understand the way the world worked back then.

The shock value would have gotten more yucks and had more of an impact.

Kind of a fraud parody if that makes sense. Call up Peter Falcone & Lederer and congratulate them for their fine play.

Think NPR's "How I Built This" for the fraud set.

Shit I need to PM Zap and get this going on PFA2. The perfect mirror site.

[TheXFactor]

Sentenced to 5 years

will do 2 and change.

Does this man look like someone who is gonna run amok in prison (country club or not) and not get time off for good behavior?


edit:

i see he's appealing both the conviction and the sentence which is standard. Still, 'ol boy will do time, but not the full 5 years c'mon.


edit:
consider this as well: in the USA for grand theft auto you get a maximum of 3 years, and this guy steals millions and gets 5 years. talk about a fair legal system

This is a federal sentence NOT state.
He'll do 4 out of 5 years in federal prison.
Then maybe a few months in a half-way house.
He must also forfeit $25.4 million he made in illegal trades.

No chance he will win on appeal.

[Sidewinder]

Sentenced to 5 years

will do 2 and change.

Does this man look like someone who is gonna run amok in prison (country club or not) and not get time off for good behavior?


edit:

i see he's appealing both the conviction and the sentence which is standard. Still, 'ol boy will do time, but not the full 5 years c'mon.


edit:
consider this as well: in the USA for grand theft auto you get a maximum of 3 years, and this guy steals millions and gets 5 years. talk about a fair legal system

This is a federal sentence NOT state.
He'll do 4 out of 5 years in federal prison.
Then maybe a few months in a half-way house.
He must also forfeit $25.4 million he made in illegal trades.

No chance he will win on appeal.

You know what you are talking about. Odd around here fo sho

[SetofKs]

hoping he tries to make a run for it