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Pastimes : Brokerage-Chat Site Securities Fraud: A Lawsuit -- Ignore unavailable to you. Want to Upgrade?

To: Dave O. who wrote (2588)	7/27/2003 8:40:02 PM
From: CountofMoneyCristo	Respond to of 3143

define "gigantic". That would depend. For some people losing $5,000 would be a catastrophe. For others, $500,000. However, in the aggregate, we are talking several hundred million dollars in losses, damages directly attributable to the kickback scheme. You know, committing fraud is not excused by saying "They would have lost anyway." I've heard that one before. There is an old common-law tenet holding that one cannot seek to employ one's own turpitude as a defense. To say the fraud was OK, they would have lost no matter what so our turpitude in a way is defensible, our breaking the law is acceptable. I don't think so, and neither does applicable case law.