• MagicShel@programming.dev
    30·
    6 months ago

    no one has ever been found guilty of failing to fulfill fiduciary duty

    For as big a deal as is made of this by investment advisors and similar roles, this is shocking to read.

      • Knock_Knock_Lemmy_In@lemmy.world
        13·
        6 months ago

        Madoff was straight up ponzi scheme fraud, not profit maximisation.

        Enron guys were fraudulently booking future possible revenues as certainties.

        Deliberate illegal misrepresentation is very different from making a (possibly) sub optimal business decision.

      • MagicShel@programming.dev
        31·
        6 months ago

        A quick search suggests Enron and Bernie Madoff are a couple of examples of conviction, but maybe there are nuances I’m not familiar with.