[showmexyz]

Still what she did was fraud. From the article - "Still, the judge criticized the bank, saying “they have a lot to blame themselves” for after failing to do adequate due diligence. He quickly added, though, that he was “punishing her conduct and not JPMorgan’s stupidity.” "

[mothballed]

Not to justify it, but why isn't the founder of UPS (edit: Fedex) in prison? I don't think it was legal to go and literally spend their money at the casino.

If you turn a profit no one cares (unless you're Shkreli, don't think his investors lost money, but he pissed off some politicians because he said the quiet parts out loud about how the pharma industry works), if you lose it's fraud.

When all the winners are doing it, hard to compete otherwise... not that it makes it right.

[curiousObject]

why isn't the founder of UPS in prison? I don't think it was legal to go and literally spend their money at the casino

That was FedEx’s founder, Fred Smith. It wasn’t UPS

He only had $5,000 of funds remaining, which he gambled playing blackjack, so the potential loss to investors was small. He’d already lost almost all their investments through operating FeDex

[privatelypublic]

What are you thinking the crime would be? He bet his company on a literal toss of the dice instead of the routine figurative ones.

Outside of Bribery and ?SarBox? (Whichever regulation handles kickbacks, etc), I can't think of anything.

[IncreasePosts]

There's no knowledge as to whether he used company money, or personal cash/line of credit. In fact, there's no knowledge of the story is even true, apart from what one dead man wrote!

[potato3732842]

> (unless you're Shkreli, don't think his investors lost money, but he pissed off some politicians because he said the quiet parts out loud about how the pharma industry works)

What's the TL;DR? His wikipedia page doesn't make it obvious.

[1123581321]

There is truth to this. She was exposed because JP Morgan ran a marketing campaign that converted extremely poorly. Better purchased data might've prevented significant forensics. The poor due diligence had already been signed off.

While she committed fraud, I feel sorry for her because of her naivety. It must've been a sick moment when they asked to examine the data during due diligence. If she'd known that would be used for marketing integration so quickly, maybe she would have backed out of the deal.