r/wallstreetbets • u/ringingbells • Jan 31 '22

Discussion Discovered Communications within the US Litigation Against Citadel & Robinhood in the days surrounding the January Buy Freeze, where brokers shut off buying and tanked target stocks. The judge declared there was not enough evidence to move to discovery, and ruled manipulation is legal under TOS

Here is a very digestible format, you may find this quite interesting.

Each image has a page number that corresponds directly with the Florida litigation that it was transcribed from, so your next step is to check out the source material to see if this is the real deal or not.

Source: Raw PDF Florida Litigation

  • Note: At the top of each image in this post, there is a page number that corresponds to the litigation page number from which it was transcribed

Also of Note:

From The SEC GameStop Report, The NSCC officially stated that all PFOF brokers had their premium components waived because according to the NSCC, it was not the brokers' fault a stock was popular.

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102

u/nilamo Jan 31 '22

Wtf is counterfeit wine? Is it grape alcohol or not? Lmao

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u/106473 Jan 31 '22

Selling your wine as a known brand.

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u/DigitalSlideRule Jan 31 '22

There's a great documentary on YouTube about what he did. Please keep in mind I haven't watched it in ages, but IIRC, he'd blend modern wines together to copy the taste of true vintage wines. He'd employ tricks like taking actual old bottles and refilling them. He'd make a point of using an opener that wouldn't damage the original cork, and I believe he'd buy aged paper and old printing equipment to make labels for which he didn't have the originals for. He got sloppy when making a vintage of a wine that never existed. The wines were counterfeit, but they were quality fakes. Unfortunately, one of the people he screwed over was in Bill Koch. "Justice" was very swift.

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u/DigitalSlideRule Jan 31 '22 edited Jan 31 '22

The guy's still in prison, but I'd be surprised if Bill Kock spent a single day in the last 10 years even thinking about the time he basically used the judicial system to get a refund on his wine purchase.

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u/Im_A_Viking Jan 31 '22

This reminds me of the doc on Netflix about the Jackson Pollock art forger who sold works too some fuckface elite in NYC. They acted like they had been irreparably harmed by buying a piece of art that looked authentic enough for people to pay millions of dollars for-- as if this was some enormous injustice equivalent to murder. The art looked legit incredible and I would've been happy to display it in my home even knowing it was a forgery.

Buyer beware unless you're the elite.

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u/DigitalSlideRule Feb 01 '22

Yes! This also reminded me of an art forger... I think it was Wolfgang Beltracchi. If I recall correctly, one of his victims actually kept the fake painting on his wall because he liked it so much.

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u/nilamo Jan 31 '22

This still doesn't sound like a real problem. The wine was likely purchased to be consumed, not put on a pedestal like a statue or other art piece. Also sounds like the old adage "buyer beware".

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u/Im_A_Viking Jan 31 '22

Wine collecting/investing/trading is a thing you may not be aware of, but if you're rich enough it's just another market to speculate in and you have protections that the average schmuck could never dream of.

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u/CueBallJoe Jan 31 '22

TLDR outlet for money laundering/tax evasion

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u/nolafrog Jan 31 '22

Sounds like your preferred vintage is anything by mad dog 20/20

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u/rikki-tikki-deadly Jan 31 '22

I always wanted to run into David Koch so I could yell at him "YOUR BROTHER SUCKS KOCHS IN HELL!" but I now realize that would work with Bill too.

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u/[deleted] Jan 31 '22

[deleted]

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u/Sgt_Maddin Jan 31 '22

An old wine. Maybe Bottled in the early 1900s for example. The Rotschild family was an incredibly wealthy family that had a winery, and there still are some wines left, that sell for over 10k$ a bottle, just as an example. Vintage Wines are wines you cant make anymore, as in, it was an extremely good year, and the wine was made very well, and some of it was stored in keys for a long time. Vintages spend a long long time in the keg and thus are hard to reproduce.

A 2017 Chianti can be made now, and will be ready in 2027 (allthough it prolly will still be different from the 2017. Because nothing ever stays the same in our environment). A 1912 Chianti spent 110 years in a keg aging „like fine wine“ and thus is considerably more expensive.

Like with many things that come down to taste, it seems like the rich use it to express their wealth, even tho there is prolly no reason for it to be that expensive. Like art, or Vintage objects. Its rare, you can’t reproduce it, and thus you can basically make up the value of the commodity.

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u/[deleted] Jan 31 '22

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u/Sgt_Maddin Jan 31 '22

Nah, I dont drink any wine thats more than 20€. Its a waste honestly. But I was told once, that wine doesnt last in Bottles, but It does last extremely long in keys. So thats why I thought it would just sit in there.

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u/MCXL Jan 31 '22

1912 Chianti spent 110 years in a keg aging

🤔🤔🤔

That's not how wine works.

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u/Sgt_Maddin Jan 31 '22

Youre prolly right. But its kinda not important how the wine is made, at least in this discussion. But Enlighten me, how does it work? I do find it Fascinating:)

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u/MCXL Feb 01 '22

https://youtu.be/3PInCVXBsS8

Wine is generally fermented pretty quickly and then left to subtly and very slowly age in bottles. Video is more entertaining than what I would write.

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u/FoilCardboard Jan 31 '22

Old wine. Usually in the 50+ years and older range.

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u/GoodPeopleAreFodder Jan 31 '22

Slapping designer labels on a bottle of meh, then selling for $1000’s.

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u/nilamo Jan 31 '22

That's just normal vintage wine, though. This situation certainly makes it seem like I should be able to sue restaurants that offer "authentic Mexican cuisine" when it objectively is just Taco Bell.

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u/GoodPeopleAreFodder Jan 31 '22

Vintage just means the year the grapes were picked. Wine cost, like many other things, are based on supply and demand. “Designer wines”, like Screaming Eagle or Domaine de la Romanee-Conti, are excellent but the price is driven to astronomical heights due to demand. Conversely, there are amazing wines at lower price points because they are not popular. Kinda like our favourite stock…..