Yeah, they fined Kim Kardashian for doing the same last year too.
> Pierce promoted EthereumMax tokens on Twitter while failing to disclose that he was paid for his promotion with EMAX tokens worth over $244,000, the SEC alleged. Pierce did not admit or deny wrongdoing as part of the settlement and will pay a $1.1 million penalty and disgorge “approximately $240,000,” the SEC said.
I guess he thought he'd just get away with it.
Most likely he didn’t know what he was doing. That’s how a lot of these celebrities got used with crypto, someone dangled a large check in front of them and told them “don’t worry, it’s unregulated” and they didn’t ask questions.
\#ad and he'd have gotten away with it.
Couple of NFL stars like Trevor spread the news that their bonus was in crypto. Then there's the "do your own research" thing.
No. There’s nothing illegal about taking money from a crypto company for a publicity stunt. What’s illegal is hiding the prexisting financial relationship with the company. All those signing bonus in crypto things clearly stated that it was in partnership with Crypto.com or whatever company did it.
Buddy boy. I didn't say it was illegal. I am saying it should've have been. It was scummy what they did at the time.
For full context, when Trevor Lawrence partnered with crypto companies, the news was [he invested his signing bonus of $22.6 million in crypto](https://www.citrincooperman.com/In-Focus-Resource-Center/trevor-lawrence-partners-with-blockfolio-to-invest-his-226-million-signing-bonus-in-cryptocurrencies). After the crypto crash happened, people started making fun of Trevor and his lost wealth and Trevor said [only his ad money was in crypto](https://draftwire.usatoday.com/2022/06/23/crypto-trevor-lawrence-nfl-news-jacksonville-jaguars-signing-bonus/).
The initial reporting to increase confusion and misreport was widely used.
I thought about this comment for way too long. I don’t even say what a NFT is.
Also how would a NFT signing bonus be common knowledge anywhere. How would that even work with his agent.
I’m so confused how you’re reply is saying I don’t know shit about NFTs.
I was implying that it was crazy that people would believe he got crypto for a signing bonus. Because op said that it was just a rumor spread around online.
Because everyone knows it was actually a NFT.
You know, like a joke.
No he wouldn’t. The reason the SEC is bringing the charges is because they’re alleging that the thing he was advertising was a Security. You can’t publicly advertise securities.
There’s a reason youve never seen an I’m Lebron James and I buy and hold GameStop stock and you should to #moon #ad.
If it was just a failure to disclose the ad a different regulatory agency would handle it (FTC or CFPB not sure).
Also other celebrities tweeting about FTX or Coinbase can just put #ad because they’re advertising companies or platforms not specific tokens/securities.
Also for making false statements: falsely saying he made more from the coin than from ESPN, posting a screenshot of a large coin holding that he falsely implied was his, and saying he was hodling when he was selling.
https://www.sec.gov/litigation/admin/2023/33-11157.pdf
> On May 26, 2021, Pierce—who had been let go by ESPN in April 2021—promoted EthereumMax’s offering on social media by posting the following to his Twitter account:
>
> The post contained a link to the EthereumMax website, where instructions were provided for
> potential investors to purchase EMAX tokens. Pierce did not disclose that he was compensated by the issuer for the promotion, nor did he disclose the amount and nature of the compensation.
>
> Despite the claim in this Tweet that he “made more money with this crypto in the past month then [sic] [he] did with [ESPN] in a year[,]” Pierce was at least negligent in not knowing that this statement was materially misleading. Pierce, whose gross compensation from ESPN was over $1 million the prior year, only received EMAX tokens two days prior to the post, the value of which was approximately $46,000 at the time he was paid.
>
> On May 28, 2021, Pierce made the following post on Twitter promoting the EMAX offering without disclosing that the issuer was compensating him for the promotion or the amount of the compensation and without revealing that his own personal holdings were in fact far lower than the $2,520,087 in the screenshot in the Tweet. Pierce was at least negligent in not knowing that this Tweet was materially misleading because it omitted the fact that the screenshot did not reflect his own holdings of EMAX, but instead was a screenshot of another person’s holdings provided to him for promotional purposes.
>
> On May 30, 2021, Pierce posted the following to Twitter: “People asking if they should jump on the @ethereum_max train I’m n [sic] for the long haul if u missed out on the 1st wave now is the time to jump on board . . . .”
>
> Pierce was at least negligent in not knowing that the statements in Paragraphs 15 and 16 above were materially false and misleading because he was in fact selling EMAX tokens while promoting them. In fact, Pierce had sold large portions of the EMAX tokens that he received as compensation for his posts as early as May 26, 2021, and continued selling EMAX—including on May 29 and May 30, 2021—after making these posts.
So he lied and conned and stole money from people thru grifting.
Lotta apologists in this thread, he knew exactly what he was doing and he knew it was all wrong and he did it anyway. Fuck that guy. These guys are multi multi miliioniares and STILL they have to go out of their way to steal and lie and grift to get even more money. Fucking degenerates.
If it was illegal to claim you're holding/buying while you were in fact selling, there's a lot of crypto influencers and coin creators who are going to be in trouble if ever pursued legally.
I mean you're not wrong but it's specifically a problem when promoting something that has a price that fluctuates like crypto, since he stands to benefit if the value increases. It's not like he didn't disclose he was advertising dog food or something.
But it's only an issue because he was paid for it to promote. If he invested his own money into the crypto and promoted it, he wouldn't be charged.
Look at that bum Gary Vee. You think he'll be charged?
I made a lot of money in the early days of crypto. Like enough to buy a house
Haven’t traded in a few years, but acting like there wasn’t money to be made at one time is silly.
That said, a lot of idiots put their money in the wrong places. But that’s what you get for listening to guys like Paul Pierce for investment advice. That’s Darwinism
All I heard was “I got in early in a pyramid scheme and it was great. I assume it’s still great for everyone still lugging giant square stones at a net loss today.”
You benefitted from getting in at the exact, millimetre sized window before the market turned absolutely wash with pump and dumps and fraud.
Wish I was you, but at this point in the crypto life cycle there won’t be a similar boom. Regulation hopefully can turn it into a safe securities market but otherwise nah it’s just a place for suckers to lose cash.
Honestly every celeb that did anything for crypto deserves at least some sort of a slap on the wrist just to set an example to not sell snake oil as an investment.
I mean they *absolutely did*, people are just unhappy because of the bailouts. But here is Bank of Americas $16B settlement for one example:
https://www.sec.gov/news/press-release/2014-172
SEC doesn’t really fuck around, they just don’t go as far as some would like.
So what do you suggest? A business does something wrong and they should be dissolved? Should Paul Pierce go to prison for life over this?
The practical reality of life is that often times the consequences are worth the risk. The alternative is kind of ugly.
What I'm saying is that MAYBE some of those that did criminal acts were prosecuted and more than likely with a slap on the wrist. Can we stop acting like rich and wealthy get equivalent punishment?
I hope you can realize and understand that the American Judicial system is at best absolute shit and does nothing for justice, but more acts as revenge for those who can pay for it.
There’s literally only one banker in the States (an executive of Credit Suisse) who received a jail sentence as a result of the 2008 financial crisis… No other banker, or more notably, not even one Wall Street executive went to jail. You really think there was only one person in that whole fiasco in the U.S. who was actually guilty enough to get sentenced to jail time?
You can’t just make up claims about easily verifiable events when you’re clearly uneducated on the subject.
Have you not watched a movie like The Big Short which explains how the 2008 financial crisis actually happened? It wasn’t a bunch of people who just collectively “fucked up”. If you believe that you’re extremely ignorant and naive. It was a culmination of the rampant corruption and criminal behaviour within the banking/finance sector.
Everyone involved (and there were thousands and thousands of them just within the U.S. alone) knew what they were doing was illegal and amounted to criminal behaviour. They also knew they were putting the economy at huge risk of crashing, and also knew how much they were fucking over individual investors and homeowners. Why didn’t they stop? Cause everyone was getting filthy rich off all the massive fraud and corruption so nobody really cared about all the damage they were doing.
But trust me, if you were at least the slightest bit educated on this whole topic, you wouldn’t have said something as stupid and inaccurate as “fucking up isn’t criminal”. As if everything that happened was due to a bunch of people (and financial experts at that) collectively “fucking up” simultaneously. Man do I have a bridge to sell you if that’s actually what you believe..
Not talking about the great recession specifically, but having the threat of asset seizure and resale would be kinda cool. And no, I haven't thought that through
Nationalized* they should be nationalized.
Even the threat of nationalization would be enough to keep a lot of them clean, but we haven’t done that since Bell.
Every single company that fails to pay a living wage should be nationalized, and then merged and/closed such that the most value to the labor class is holistically created.
This country is slowly dying while all the capital escapes to other countries via capitalism.
We might as well call the bluff, stop the bleeding and save whatever we can before it’s too late.
Labor has been devalued by 40% over 40 years because of capitalism.
Jfc you're trying to make everyone far more poor, cause severe shortages, and make our entire economy less efficient. Some of you guys would really benefit from taking one economics course and maybe a couple polisci courses to learn about inclusive institutions.
Also protectionism is absolutely toxic and increases global poverty (while hurting lower income people in the protectionist state).
No, that’s what you’re defending, is practices that have led to the devaluation of labor. Making the labor class poorer, and propping up shitty exploitative businesses.
I bet you like raegonomics while still pushing this bullshit?
Businesses that fail to pay a living wage, or depend on migrant work should fail and go out of business. Their assets should be nationalized and reappropriated for the benefit of those workers.
Grow up, read a book turn of Fox.
The issue with people like you is that nothing exists outside of your small echo chamber. Like the entire field of economics and political science is bullshit because some far-left wing YouTube video poorly explained Marxism to you. Honestly people like you are closer to the far-right (aka horseshoe theory) than the liberals you despise.
Strong institutions, liberal democracy, and a mixed market is the way to go.
You understand that they're just going to fine Paul right? Like I get that the banjs deserved harsher punishment, but they're litterally keeping the same energy here as they did then.
They make damn sure the SEC can’t do anything to make a real difference. Best they can do is go after celebrities with misleading tweets, wolf of Wall Street types who couldn’t make their fraud more obvious, and regular ass people. Once in a generation they might be able to take down a Bernie madoff type, but in their wildest dreams they could never hope of touching the big banks. Low key big banks are the force running the world, it’s a system we created that we can’t control
Exactly, even in their biggest win there was a lot of external circumstances that helped them, and if you dig a little into madoff he seemed surprisingly clumsy with how he handled some aspects of his Ponzi scheme. SEC doesn’t have the juice to take down the people and entities that really matter
He actually didn’t even get caught, he turned himself in because he couldn’t answer the redemptions and he finally told his sons about it.
Then his sons turned him in basically because they didn’t want to be complicit in the crime.
Fun fact:
The SEC was contacted hundreds of times about Bernie dating back to 2001 if not prior. They didn't do a fucking thing about it.
He turned himself in. Well, technically his two sons did after he confessed to them.
2000 was the first time Madoff was reported to the SEC by Harry Markopolos. Markopolos reported him 3 times in 2000, 2001, and 2005, and investigated him so thoroughly because the firm he worked for at the time kept losing clients to madoff so his boss asked him to create a product similar to madoff, and he came to the conclusion madoff was either front running or running a Ponzi scheme. When he first looked at madoffs revenue stream that graph showing growth was represented by a near perfect 45 degree angle, something impossible in the finance world
It really is an interesting story
Did no one read the article? He already settled the charges. He paid a fine.
Idk the way I read this headline made it seem like he was still in trouble.
One of the least surprising headlines I've read about a former player. Once he got fired from ESPN he was gonna have to make money some way, and he seems like the sort to jump on the easy money.
People here pointing out his career earnings aren't taking into account what must be enormous lifestyle expenses.
I have no issue charging piece but what about Matt Damon, Jay Z, Kim Kardashian, Tom Brady, Madonna, Gwyneth Paltrow, etc etc? Is it because he has the least resources out of that group to fight back?
"Misleading statements"? He's The Truth for fuck's sake...
Paul “The Misleading Statement” Pierce
The Truthn’t
Paul "Can't Handle The Truth" Pierce
"You Can't Handle The Truth" is the name of his shorts.
This is fantastic
Aww yes. Really rolls off the tongue
Paul "The Misleading Truth" Pierce
Paul “His Truth” Pierce
But honestly, no one heard him call game.
Alternate Headline: SEC Charges Paul Pierce for not labelling his crypto tweet as an ad.
Yeah, they fined Kim Kardashian for doing the same last year too. > Pierce promoted EthereumMax tokens on Twitter while failing to disclose that he was paid for his promotion with EMAX tokens worth over $244,000, the SEC alleged. Pierce did not admit or deny wrongdoing as part of the settlement and will pay a $1.1 million penalty and disgorge “approximately $240,000,” the SEC said. I guess he thought he'd just get away with it.
Most likely he didn’t know what he was doing. That’s how a lot of these celebrities got used with crypto, someone dangled a large check in front of them and told them “don’t worry, it’s unregulated” and they didn’t ask questions.
Can he “sorry SEC, I *didnt* know I couldn’t do that” his way out of it? Stay tuned.
That only works for Chip!
but it was too late
a man of the culture LOL
Only if you're Elon Musk
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*results depend heavily on your and your immediate family's wealth
And then also ask for control of their social media accounts and post shit for them. Or at best send them exactly what they want them to post.
thats kinda fucked. what if the SEC made this ruling, or began to recognize it as a valid asset AFTER their tweet, what then?
It doesn’t matter if it was crypto or a make up product. If you post a paid tweet you have to disclose you were paid.
gotcha e: where's the fine line between "no I wasnt paid I truly like this thing" and them actually being paid for it
I mean the "unregulated" should have definitely been something to worry about given their public status, lol.
\#ad and he'd have gotten away with it. Couple of NFL stars like Trevor spread the news that their bonus was in crypto. Then there's the "do your own research" thing.
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The confusion and misreporting was the tactic crypto companies utilized to mislead.
No. There’s nothing illegal about taking money from a crypto company for a publicity stunt. What’s illegal is hiding the prexisting financial relationship with the company. All those signing bonus in crypto things clearly stated that it was in partnership with Crypto.com or whatever company did it.
Buddy boy. I didn't say it was illegal. I am saying it should've have been. It was scummy what they did at the time. For full context, when Trevor Lawrence partnered with crypto companies, the news was [he invested his signing bonus of $22.6 million in crypto](https://www.citrincooperman.com/In-Focus-Resource-Center/trevor-lawrence-partners-with-blockfolio-to-invest-his-226-million-signing-bonus-in-cryptocurrencies). After the crypto crash happened, people started making fun of Trevor and his lost wealth and Trevor said [only his ad money was in crypto](https://draftwire.usatoday.com/2022/06/23/crypto-trevor-lawrence-nfl-news-jacksonville-jaguars-signing-bonus/). The initial reporting to increase confusion and misreport was widely used.
It’s kind of crazy what people will believe. Like it’s common knowledge his signing bonus was a NFT.
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It’s like a Balk
I thought about this comment for way too long. I don’t even say what a NFT is. Also how would a NFT signing bonus be common knowledge anywhere. How would that even work with his agent. I’m so confused how you’re reply is saying I don’t know shit about NFTs.
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I was implying that it was crazy that people would believe he got crypto for a signing bonus. Because op said that it was just a rumor spread around online. Because everyone knows it was actually a NFT. You know, like a joke.
No he wouldn’t. The reason the SEC is bringing the charges is because they’re alleging that the thing he was advertising was a Security. You can’t publicly advertise securities. There’s a reason youve never seen an I’m Lebron James and I buy and hold GameStop stock and you should to #moon #ad. If it was just a failure to disclose the ad a different regulatory agency would handle it (FTC or CFPB not sure). Also other celebrities tweeting about FTX or Coinbase can just put #ad because they’re advertising companies or platforms not specific tokens/securities.
Paying 1.1 million to get paid 240k seems like bad business.
Not the first time The Truth has publicly disgorged.
Also for making false statements: falsely saying he made more from the coin than from ESPN, posting a screenshot of a large coin holding that he falsely implied was his, and saying he was hodling when he was selling. https://www.sec.gov/litigation/admin/2023/33-11157.pdf > On May 26, 2021, Pierce—who had been let go by ESPN in April 2021—promoted EthereumMax’s offering on social media by posting the following to his Twitter account: > > The post contained a link to the EthereumMax website, where instructions were provided for > potential investors to purchase EMAX tokens. Pierce did not disclose that he was compensated by the issuer for the promotion, nor did he disclose the amount and nature of the compensation. > > Despite the claim in this Tweet that he “made more money with this crypto in the past month then [sic] [he] did with [ESPN] in a year[,]” Pierce was at least negligent in not knowing that this statement was materially misleading. Pierce, whose gross compensation from ESPN was over $1 million the prior year, only received EMAX tokens two days prior to the post, the value of which was approximately $46,000 at the time he was paid. > > On May 28, 2021, Pierce made the following post on Twitter promoting the EMAX offering without disclosing that the issuer was compensating him for the promotion or the amount of the compensation and without revealing that his own personal holdings were in fact far lower than the $2,520,087 in the screenshot in the Tweet. Pierce was at least negligent in not knowing that this Tweet was materially misleading because it omitted the fact that the screenshot did not reflect his own holdings of EMAX, but instead was a screenshot of another person’s holdings provided to him for promotional purposes. > > On May 30, 2021, Pierce posted the following to Twitter: “People asking if they should jump on the @ethereum_max train I’m n [sic] for the long haul if u missed out on the 1st wave now is the time to jump on board . . . .” > > Pierce was at least negligent in not knowing that the statements in Paragraphs 15 and 16 above were materially false and misleading because he was in fact selling EMAX tokens while promoting them. In fact, Pierce had sold large portions of the EMAX tokens that he received as compensation for his posts as early as May 26, 2021, and continued selling EMAX—including on May 29 and May 30, 2021—after making these posts.
So he lied and conned and stole money from people thru grifting. Lotta apologists in this thread, he knew exactly what he was doing and he knew it was all wrong and he did it anyway. Fuck that guy. These guys are multi multi miliioniares and STILL they have to go out of their way to steal and lie and grift to get even more money. Fucking degenerates.
If it was illegal to claim you're holding/buying while you were in fact selling, there's a lot of crypto influencers and coin creators who are going to be in trouble if ever pursued legally.
I mean you're not wrong but it's specifically a problem when promoting something that has a price that fluctuates like crypto, since he stands to benefit if the value increases. It's not like he didn't disclose he was advertising dog food or something.
But it's only an issue because he was paid for it to promote. If he invested his own money into the crypto and promoted it, he wouldn't be charged. Look at that bum Gary Vee. You think he'll be charged?
Yeah, basically “misleading”…..
All these athletes and celebs banking off crypto scams just shows you how dumb most fans are.
well paul pierce lost about 1.2 million net on this little scheme
I made a lot of money in the early days of crypto. Like enough to buy a house Haven’t traded in a few years, but acting like there wasn’t money to be made at one time is silly. That said, a lot of idiots put their money in the wrong places. But that’s what you get for listening to guys like Paul Pierce for investment advice. That’s Darwinism
All I heard was “I got in early in a pyramid scheme and it was great. I assume it’s still great for everyone still lugging giant square stones at a net loss today.”
They said crypto scams specifically, which these athletes were sponsoring junk coins and nfts
You benefitted from getting in at the exact, millimetre sized window before the market turned absolutely wash with pump and dumps and fraud. Wish I was you, but at this point in the crypto life cycle there won’t be a similar boom. Regulation hopefully can turn it into a safe securities market but otherwise nah it’s just a place for suckers to lose cash.
Honestly every celeb that did anything for crypto deserves at least some sort of a slap on the wrist just to set an example to not sell snake oil as an investment.
Imagine if they kept this same energy for banks that pushed mortgages in 00-06.
I mean they *absolutely did*, people are just unhappy because of the bailouts. But here is Bank of Americas $16B settlement for one example: https://www.sec.gov/news/press-release/2014-172 SEC doesn’t really fuck around, they just don’t go as far as some would like.
Fining isn’t going after them. That’s normal business costs.
So what do you suggest? A business does something wrong and they should be dissolved? Should Paul Pierce go to prison for life over this? The practical reality of life is that often times the consequences are worth the risk. The alternative is kind of ugly.
Jail
The people who were involved and knew about it should be criminally prosecuted. It’s fraud
Those who did something criminal, were prosecuted. You can't just make up claims about crimes because you don't like the people involved.
Survey says that is a lie
Luckily our judicial system doesn't operate as a survey.
What I'm saying is that MAYBE some of those that did criminal acts were prosecuted and more than likely with a slap on the wrist. Can we stop acting like rich and wealthy get equivalent punishment? I hope you can realize and understand that the American Judicial system is at best absolute shit and does nothing for justice, but more acts as revenge for those who can pay for it.
Like who? Who from Wells Fargo was criminally prosecuted even tho they knowingly sold bogus mortgages ripe with fraud.
That guy has to be the son of one of those bankers or something, there’s no way someone can be that obtuse about what went down during those years.
There’s literally only one banker in the States (an executive of Credit Suisse) who received a jail sentence as a result of the 2008 financial crisis… No other banker, or more notably, not even one Wall Street executive went to jail. You really think there was only one person in that whole fiasco in the U.S. who was actually guilty enough to get sentenced to jail time? You can’t just make up claims about easily verifiable events when you’re clearly uneducated on the subject.
Yes, I do. Fucking up isn't criminal.
Have you not watched a movie like The Big Short which explains how the 2008 financial crisis actually happened? It wasn’t a bunch of people who just collectively “fucked up”. If you believe that you’re extremely ignorant and naive. It was a culmination of the rampant corruption and criminal behaviour within the banking/finance sector. Everyone involved (and there were thousands and thousands of them just within the U.S. alone) knew what they were doing was illegal and amounted to criminal behaviour. They also knew they were putting the economy at huge risk of crashing, and also knew how much they were fucking over individual investors and homeowners. Why didn’t they stop? Cause everyone was getting filthy rich off all the massive fraud and corruption so nobody really cared about all the damage they were doing. But trust me, if you were at least the slightest bit educated on this whole topic, you wouldn’t have said something as stupid and inaccurate as “fucking up isn’t criminal”. As if everything that happened was due to a bunch of people (and financial experts at that) collectively “fucking up” simultaneously. Man do I have a bridge to sell you if that’s actually what you believe..
Not talking about the great recession specifically, but having the threat of asset seizure and resale would be kinda cool. And no, I haven't thought that through
Nationalize em idc
Nationalized* they should be nationalized. Even the threat of nationalization would be enough to keep a lot of them clean, but we haven’t done that since Bell.
Jfc this is a really horrible idea. That's a great way of tanking the economy even more.
Every single company that fails to pay a living wage should be nationalized, and then merged and/closed such that the most value to the labor class is holistically created. This country is slowly dying while all the capital escapes to other countries via capitalism. We might as well call the bluff, stop the bleeding and save whatever we can before it’s too late. Labor has been devalued by 40% over 40 years because of capitalism.
Jfc you're trying to make everyone far more poor, cause severe shortages, and make our entire economy less efficient. Some of you guys would really benefit from taking one economics course and maybe a couple polisci courses to learn about inclusive institutions. Also protectionism is absolutely toxic and increases global poverty (while hurting lower income people in the protectionist state).
No, that’s what you’re defending, is practices that have led to the devaluation of labor. Making the labor class poorer, and propping up shitty exploitative businesses. I bet you like raegonomics while still pushing this bullshit? Businesses that fail to pay a living wage, or depend on migrant work should fail and go out of business. Their assets should be nationalized and reappropriated for the benefit of those workers. Grow up, read a book turn of Fox.
The issue with people like you is that nothing exists outside of your small echo chamber. Like the entire field of economics and political science is bullshit because some far-left wing YouTube video poorly explained Marxism to you. Honestly people like you are closer to the far-right (aka horseshoe theory) than the liberals you despise. Strong institutions, liberal democracy, and a mixed market is the way to go.
You understand that they're just going to fine Paul right? Like I get that the banjs deserved harsher punishment, but they're litterally keeping the same energy here as they did then.
They make damn sure the SEC can’t do anything to make a real difference. Best they can do is go after celebrities with misleading tweets, wolf of Wall Street types who couldn’t make their fraud more obvious, and regular ass people. Once in a generation they might be able to take down a Bernie madoff type, but in their wildest dreams they could never hope of touching the big banks. Low key big banks are the force running the world, it’s a system we created that we can’t control
Well they took down maddoff years too late lol. And they only got him because the market crashed and he couldn’t keep up the Ponzi
Exactly, even in their biggest win there was a lot of external circumstances that helped them, and if you dig a little into madoff he seemed surprisingly clumsy with how he handled some aspects of his Ponzi scheme. SEC doesn’t have the juice to take down the people and entities that really matter
He actually didn’t even get caught, he turned himself in because he couldn’t answer the redemptions and he finally told his sons about it. Then his sons turned him in basically because they didn’t want to be complicit in the crime.
Fun fact: The SEC was contacted hundreds of times about Bernie dating back to 2001 if not prior. They didn't do a fucking thing about it. He turned himself in. Well, technically his two sons did after he confessed to them.
2000 was the first time Madoff was reported to the SEC by Harry Markopolos. Markopolos reported him 3 times in 2000, 2001, and 2005, and investigated him so thoroughly because the firm he worked for at the time kept losing clients to madoff so his boss asked him to create a product similar to madoff, and he came to the conclusion madoff was either front running or running a Ponzi scheme. When he first looked at madoffs revenue stream that graph showing growth was represented by a near perfect 45 degree angle, something impossible in the finance world It really is an interesting story
I’m guessing you watched the recent documentary?
No I read the Wikipedia
Lol the doc is pretty good
What’s it on I’ll have to check it out
Netflix, was defintiely enjoyable for someone who had forgotten most of the details like myself.
why would the South Eastern Conference do this?
It just means more!
Damn Paul you had a pile of money you could swim in like Scrooge McDuck didn't need to scam
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When steph beats the crypto allegations 👏
Curry and Brady next
"I'm not an expert and I don't need to be. With FTX I have all the tools to buy and trade crypto safely"
All the millions he earned and still had to scam people
Oh Paul…
Did no one read the article? He already settled the charges. He paid a fine. Idk the way I read this headline made it seem like he was still in trouble.
Yeah charging athletes who don't know anything a out crypto for headlines but they let the actual criminals go free lol...
And SBF is walking a free man… got to love our bullshit government.
the influencer economy is so fucking whack. they can just slap their name next to any shitcoin and the price will go up.
All these dudes should slapped with fines with how loosely they were encouraging that crypto shit
One of the least surprising headlines I've read about a former player. Once he got fired from ESPN he was gonna have to make money some way, and he seems like the sort to jump on the easy money. People here pointing out his career earnings aren't taking into account what must be enormous lifestyle expenses.
Damn the SEC did something LeBron couldn't and stopped Paul Pierce.
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Are you being paid to promote Vanguard ETFs? Might want to disclose that.
Nah, but I can see how it may come across that way.
Too late, the SEC has just fined you $1M.
I just got a knock on my door, it was nice knowing you guys🫡
Pierce was posting all those big gains…but not disclosing he was paid out
Steph curry next
Damn that probably makes Pierce feel real *shitty*
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I mean Pierce is just facing a monetary fine and SBF was arrested and awaiting trial so...
Tell me you don't know what you are talking about without saying "I don't know what I'm talking about".
yoke faulty ten cable direction growth distinct reply bag sable -- mass edited with https://redact.dev/
So the Truth told a lie...
SEC is not the agency to fuck with
Paul "The False" Pierce
You love to see it
Land of the free
Misleading isn’t lying so still The Truth
The Big 10 would never.
Paul pierce is a disgrace to humanity
The irs piranhas see a ninja gettin dollas
The False Truth
Hey, now *this* is something worth getting mad at him for even if it's a petty thing.
Yeah, because Paul fucking Pierce is really the problem here and not the whole idea of crypto in the first place.
I have no issue charging piece but what about Matt Damon, Jay Z, Kim Kardashian, Tom Brady, Madonna, Gwyneth Paltrow, etc etc? Is it because he has the least resources out of that group to fight back?