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Thread: 50 billion dollar fraud

  1. DJ Ms. White
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    12-13-08, 04:26 PM #1

    50 billion dollar fraud

    http://news.bbc.co.uk/2/hi/business/7781086.stm
    enf-Jesus its been like 12 minutes and you're already worried about stats?! :-P
    Bigdog-    Sweet home Alabama you are an idiot.
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  2. MotoZ
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    12-13-08, 04:35 PM #2

    Re: 50 billion dollar fraud

    Outstanding. That's almost Enron magnitude.
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  3. DancingCorpse
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    12-13-08, 04:56 PM #3

    Re: 50 billion dollar fraud

    If found guilty, US prosecutors say he could face up to 20 years in prison and a fine of up to $5m.
    Only a $5m fine for $50billion? I don't know the first thing about law, but that sounds like getting off easy on the fine part considering how much he conned.
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  4. MotoZ
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    12-13-08, 05:08 PM #4

    Re: 50 billion dollar fraud

    There's a difference between a fine and restitution. Restitution is paying back the victims. Fines are paid to the state as punishment. If found guilty, he will have to pay $50bil restitution + $5mil maximum fine.

    I wouldn't hold my breath if I were on the receiving end of the restitution.

    ::edit for spelling blunders::
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  5. DancingCorpse
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    12-13-08, 05:20 PM #5

    Re: 50 billion dollar fraud

    Thanks Motoz, I am completely ignorant when it comes to Law and Courts.
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  6. MotoZ
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    12-13-08, 05:38 PM #6

    Re: 50 billion dollar fraud

    That's good. I used to be the same way and in some ways wish I still was.
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