Posted on 02/18/2018 2:30:52 PM PST by bgill
A 24-year-old trader who considered himself "invincible" according to federal investigators has become the first target of a criminal fraud prosecution involving "cryptocurrency," after allegedly siphoning $2 million in Bitcoin and Litecoin from his Chicago employer... Judge Martin asked the Korean-American defendant if he spoke English and understood the proceedings, which he did...As part of his $100,000 bond deal, Kim surrendered his passport...Prosecutors are expected to outline the charge that "from September through November 2017, Kim transferred more than $2 million of the trading firm's Bitcoin and Litecoin to personal accounts to cover his own trading losses, which had been incurred while trading cryptocurrency futures on foreign exchanges."
Sounds like gambling....
Racial profiling!!
Do you not know what a "TRADER" does?
Yes, some uninformed people do call those who buy & sell stocks, bonds, opinions, futures etc. "gambling"; however, I doubt that that is what you meant; nor is it really "gambling".
Another Fake American willing to do a job that a real American wouldn’t.
He was likely gambling that his intelligence would soon create YUGE trading gains he could use to cover his “borrowing”.
What’s a bigger gamble?? The roulette wheel, or trading in Bitcoin futures? Honest question.
Do you know what check kiting is? That doesn't work either, BTW.
You sound oddly sensitive.
I just have problems with erroneous/nonfactual/silly posts; which your "gambling" post is one of. And yes, I ended that sentence with a prepositions. LOL
The guy is a trader for a company. He also TRADED for himself, had loses, and STOLE MONEY, FROM HIS COMPANY, TO COVER HIS LOSSES. How is that "gambling" ? He didn't bet sports/teams, he didn't take company money to pay off bookies, he didn't steal the company's money because he lost money in Vegas, playing poker with friends nor mobsters.
You sound oddly illiterate.
You can look it up. It's plain English.
Sorry I may have hurt your "widdle" feelings.
It’s not currency and it’s not crypto anything.
Too bad your reading comprehension is as problematic as your understanding of what traders do.
Whoooaaa Nellie!!!
I’m largely retired for the evening.
After a week or two of exploring the YouTube world of Jordan B. Peterson and many of the associated networked YT bloggers, I’m now past vicariously riding the mountain trains of Switzerland and Norway and Montenegro and watching some lame skiers with GoPros ski down from below the JungFrauhoch. It’s snowing like crazy in the BH and at BS. I changed the oil today and am ready to head out to BIG WINTER.
I may do a deconstruction tomorrow. We’ll see.
Gambling..is going to some casino..and throwing money at a game. You know the odds, I assume. They aren't good...
Trading stocks...different thing..as you can make the odds in your favor. IF, you know what you are doing.
I live in Oklahoma..
With Indian casino's galore.....Raking in the dough....Been in my Tribe's casino..just to see what it was like. Walked out...never opened my wallet.
Got home that day...and I'd made 3% on my money in the stock market, that day.
Because I know what I'm doing........
OTOH, this stupid man also traded for himself and the STOLE money that belonged to the company he worked for, to "cover" the losses in "his" personal account.
Please explain just WHAT part of the above is SO damned "difficult" to understand.
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