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”meant to deceive investors”

That’s not necessarily true, and, I guess, what his lawyers will contest. I’m not a lawyer, but I guess that whether there was an intent to deceive can make a difference in sentencing, just as it is with murder vs voluntary manslaughter.



Questions of intent are likely also much more significant in the DOJ criminal investigation.

Edit to add: I suspect that questions of harm are more relevant than intent in this civil proceeding though, given the violation is about making material statements which are false or misleading.




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