back to article FCC adviser and fiber telco CEO thrown in the clink for five years after conning investors out of $270m with fake deals

A telecoms CEO and one-time adviser to FCC boss Ajit Pai will spend as much as the next half-decade behind bars after being convicted of wire fraud and eight counts of aggravated identity theft. Judge Edgardo Ramos, of the US federal district court of Manhattan, this month handed down the 60-month sentence to Elizabeth Pierce …

  1. GrapeBunch Silver badge

    On the scale of US computer-justice, 5 years is fairly modest. So the $270m invested is worth how much on the market today? Was any of that investment returned to the tricked investors before today?

    1. Anonymous Coward
      Anonymous Coward

      Alaskan bridge to somewhere?

      Maybe they were looking at it like "Hey, at least something useful got built and will be used fully someday." The $270 million resulted in $270 million of actual infrastructure, and didn't just disappear into unknown bank accounts....

      Alaskan Bridge to Nowhere

    2. Nick Kew Silver badge

      Isn't that 5 years the same ballpark as Autonomy's Hussain?

      Autonomy is interesting 'cos it's a soap opera. This case is rather interesting in its own right: seems it wasn't about regular greed, but over-enthusiasm for a real project. Somewhere on a scale between Campaigner and Terrorist, but not your average fraudster.

      1. Doctor Syntax Silver badge

        "seems it wasn't about regular greed"

        Nevertheless the sentence seems to imply she made about $900k out of it for herself.

    3. DougS Silver badge

      Someone who broke into an ATM machine

      In the area last year received 10 years for stealing a few thousand dollars and a few thousand more in property damage.

      If sentences were proportionate either he'd get an hour or she'd get a hundred consecutive life terms. Serves him right for not stealing hundreds of millions of dollars I guess!

      1. Nick Kew Silver badge

        Re: Someone who broke into an ATM machine

        Um, aren't you missing the distinction between coercion and persuasion? Would you impose the same penalty for gentle seduction as for violent rape?

        1. Claverhouse Silver badge

          Re: Someone who broke into an ATM machine

          Actually, the Guardian would.

          And for any other interaction between the sexes.

        2. DougS Silver badge

          Re: Someone who broke into an ATM machine

          Would you impose the same penalty for gentle seduction as for violent rape?

          Theft is theft and rape is rape. I guess you think if a guy talks a girl into drinking too much and has sex with her after she's passed out he should get a light sentence? After all, it was just "persuasion".

  2. Claverhouse Silver badge

    Meh, on the scale of human wickedness this is all very minor. A billion misdirected is of less import than even the least injury.

    As President Trump somebody, has said, "No amount of money is worth a human life."

    .

    If a first offence, as seems likely, her sentence needed to be suspended.

  3. Robert Carnegie Silver badge

    The restitution amount

    $896,698 is a number that reads the same forwards and backwards. What special meaning does this have? That the judge bet that he could do it with no one noticing? Well... I noticed!

  4. Scroticus Canis
    Devil

    "...to be nominated by FCC boss Ejit Pai as one of two chairs on the watchdog's..."

    FTFY.

    1. CrazyOldCatMan Silver badge

      Re: "...to be nominated by FCC boss Ejit Pai as one of two chairs on the watchdog's..."

      .. where, with her impressive background of lying, cheating and fraud, she'll be a perfect fit.

      A true match made in hell.

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