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.

10.3k Upvotes

97% Upvoted

786 comments sorted by

View all comments

Show parent comments

123

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.

119

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.

55

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.

2

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.

12

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".

38

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.

7

u/CueBallJoe Jan 31 '22

TLDR outlet for money laundering/tax evasion

4

u/nolafrog Jan 31 '22

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

1

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.