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I have a problem with conflating ruining someone's life with taking money from them to give to someone else. If you want to ruin his life, send him to jail for life and move on (if you can). I dont really care how aggregiously moronic Alex and his team was. I dont like the idea of tying someone's capital to their capability to live. That is all.
I understand that some families had to get protection and move or whatever the fuck, i just dont believe it all amounts to a sum that large. Give the families what he owes them, send him to jail, thats it. Theres no fucking way 20 families combined spent 1 billion dollars unless their sur names are Rockefeller.
If he wanted to argue that, he probably should have argued that in court. Especially considering that he always had the chance to do so. But that would be admitting guilt, isn't it? He continued to fight the legal system after he was shown to be squarely in the wrong. Indeed, this is the case where legal system is actually working as intended - Judge shouldn't actively protect either side, they judge, not represent.
And yes, 'Being bankrupt' is a valid argument. But only if it is true. Just like any other arguments, if evidence to the contrary is found, that is just another crime to be punished for lying in the court. Now you can see how he ended up with that much fine.