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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: JDN who wrote (30268)8/22/2000 10:59:12 AM
From: saukriver  Read Replies (1) of 54805
 
Somewhat OT--cheating in Florida--Never invest in a company based in Florida

JDN,

I recognize that the SEC has criminal enforcement power, even in Florida. But the criminal standard of proof is beyond a reasonable doubt. That is a high standard for the prosecution.

But cheats are not always dumb. Florida offers scoundrels the following proposition: don't do something so flagrant that a prosecutor will be interested in pursuing you (and capable to meet the more probable than not standard) and we will protect you from the dramatic consequence of losing your homestead as a result of civil judgments, which can be obtained by more easily proving the lower more probable than not standard. Florida sets itself up as a haven for crooks smart enough not to do anything too flagrant to draw a criminal prosecution and willing to simply shade the truth and/or cut corners on disclosure obligations.

That is why I repeatedly stressed in my post yesterday Message 14246710 that cheats in Florida can use Florida's ridiculous homestead exemption to hide from civil consequences:

"Florida's lax homestead exemption means that a civil remedy against a Floridian has less teeth. As a result, I could see where Floridians might face less civil consequence from failing to be as forthcoming with information to investors. It is therefore may not be the "Sunshine State" in all respects."

saukriver
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