He already lost his whole net worth overnight ($16B) and will live in hiding with serious death threats for the rest of his life. This is no ordinary CEO switcheroo where the he walks away with a slap on the wrist and a golden handshake.
I don't think brazen criminals should get a different perspective than sneaky ones; perhaps a worse characterization because they either don't recognize what they're doing is wrong, or they simply hold society in contempt.
This is just investing with client funds, which the US learned the hard way must be carefully restricted. The US has the Glass-Steagall Act, and deposit insurance to try to prevent bank runs like this.
https://www.bloomberg.com/news/articles/2022-04-25/sam-bankm...
Me, after watching people sell no-hope dotcoms, dubious real estate, and cryptocurrency: “… unless they thought they could cash out before the other fools wised up”
>This is just investing with client funds...
This is just plain not true.
Hopefully the US Gov goes after him and forces him to pay it back to creditors/customers, similar to Trevor Milton/Nikola
If he siphoned off even 1% ($160M+)- you can bet he's going to lose it in bankruptcy proceedings.
He will probably have dispersed quite some sums to friends and family, some of that will come back to him in one way or another.
Finally, he will be able to go on the celebrity speaking circuit for quite a while...
Yeah, talking about the power of failure what he learned from it.