Comments by "kxmode" (@kxmode) on "12 News"
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According to the U.S. Department of Justice, Reis and Hockridge are each facing one count of conspiracy to commit wire fraud and four counts of wire fraud. If convicted, they could face up to 20 years in prison for each count—so that’s a total of 100 years each.
Given the scale of their actions and the severe impact on legitimate businesses, they should face the maximum sentence. Of course, their high-priced attorneys (probably funded by some of that $300 million) might try to use the Samuel Bankman-Fried case as a precedent.
In that case, despite laundering $4 billion to Alameda Research, he got 25 years in prison, three years of supervised release, and was ordered to pay $11 billion in forfeiture. They might try to push for a similar outcome—25 years, three years of supervised release, and $300 million in forfeiture.
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