this post was submitted on 22 Feb 2024
792 points (99.4% liked)

Technology

59300 readers
4609 users here now

This is a most excellent place for technology news and articles.


Our Rules


  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots


founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] Vorticity@lemmy.world 168 points 8 months ago (2 children)

I don't understand why companies who commit blatant fraud like this aren't required to disgorge all fraudulently earned money. If someone defrauds banks they get fined based on their earnings in a way that hurts. If someone defrauds consumers for "tens of millions of dollars" they are only fined $16M.

Well, actually I do understand, I just don't like it and don't like what it says about this country's priorities.

[–] Ranvier@sopuli.xyz 15 points 8 months ago* (last edited 8 months ago)

By New York state law you are, any "ill gotten gains" must be surrendered. And the fine accumulates interest during any appeals to boot. it's why Trump is getting his nearly half a billion dollar fine. I wish all fraud laws were that way though. I believe most are typically based on common law fraud, and usually there's some kind of flat fine and the the rest is based off provable damages to other parties, rather than the amount of profit.

[–] piecat@lemmy.world 7 points 8 months ago

Yep. Things don't have to be this way.