this post was submitted on 06 Sep 2024
1091 points (99.0% liked)
Technology
59446 readers
4587 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- 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
view the rest of the comments
Lawsuit, sure, but is it actually illegal?
People who are not part of the wealthy elite stealing profits is illegal. Doesn't matter what the method was.
And yet Xitter, Farcebook and similar platforms still publish their stats as if all their users are real human beings. So why isn't that fraud?
Because it's only fraud if a normal person makes money from it, duh 🤪
People who are ~~not~~ part of the wealthy elite stealing profits is ~~il~~legal.
Plausible deniability is the answer.
This is the truth. He would have been fine if he was super rich
Bot listening is probably fraud.
Probably against the TOS, though, meaning the money paid was never owed, could get it into fraud
That's still civil. I think this is just a case of fraud plain and simple.
uh, yes? it's at the least fraud fs? the article says the doj is charging mike smith with three money laundering charges and one count of wire fraud. obviously the wire fraud charge comes from an argument that smith defrauded the distribution companies into illegitimately paying out royalties for false streams. note that the artificial intelligence solution only comes into the argument for the purposes of how he committed the crime, it really had nothing to do with the crime itself, at least intrinsically. if you read the press release from the doj, you can see that they make a pretty airtight argument that, quote:
it is not illegal to lie. it is absolutely illegal to lie for the purposes of financial gain. sure, i'm not disagreeing that what he did could not somehow be construed as something of a robin hood character arc (even tho he most certainly did this for the purposes of his own personal enrichment). but he almost definitely is guilty of the wire fraud charge and i do have a strong feeling, based on the prosecutorial level of this case, the involvement of a specialized division of the fbi, and his purported co-conspirators; that the money laundering charges are ironclad as well. frankly, i'm hoping his co-conspirators actually do end up going to trial and we get to learn what the company that aided in his fraud actually was. on fucking god it'd be one thing if he ran this grift machine for a little while, paid off a lil bit of his debts and all, maybe even lived off of it. but to steal $10 million fucking dollars with it, even when he knew he was committing fraud and had to explicitly hide his criminal activity??? no shit the fbi was hot on your trail. what an absolutely, colossal dipshit michael smith must be. i respect the ingenuity but it is so blindingly obvious that 10 million dollars was egregiously too many times to press a "free money button" you just invented in a capitalist autocratic hellscape.
QUICK EDIT: i do just wanna say also i did not downvote u/shani66 and i just wanted to contribute to discussion. just noticed after i posted someone had downvoted them which is kinda goofy of whoever that is.
Just wanted to add something. Lying for Financial gain isn’t illegal it’s how you do it. Like people lie for Financial gain all the time.
that’s fair, my absolute statement doesn’t reflect the exclusive way anti fraud laws are written. you certainly might find and successfully exploit legal ways to lie for financial gain, but at best it’s unethical and at worst you’ll have to defend why your deceit isn’t criminal fraud in a lawsuit. it kind of depends on who you piss off the most, imo.
I would not just say unethical. You have to consider multiple facets and situations. While yes it may not be best. Sometimes they have to feed children or otherwise. To put it simply most things aren’t black and white.
According to the article, they're going for multiple counts of money laundering and wire fraud with 20 years each.