This is another sadden story again about someone that just supposed not to trade crypto and meme stocks. Trading and investment is not a get rich quick. Meme stocks trading is like gambling. Coins like bitcoin may be promising, but what if you invested at $50000, bitcoin price now at $30000. Bitcoin will get to all-time-high but not good to use the money that is not yours.
As for trading, not that it is not a get rich quick, but you should use the money that you can afford to lose. The man may wanted to return that money, but crypto and meme stock trading landed him in prison.
The former chief financial officer of a special purpose acquisition company (SPAC) was sentenced to three years in prison after embezzling $5 million, which he used to trade cryptocurrencies and “meme stocks.“
Read further about it:
Ex-CFO who stole $5M to trade crypto and ‘meme stocks’ gets 3 years in prisonActually this is the first golden rule of trading: You should't use money which you can't to lose
I remember last year I connected to step-in project and there was a man who invested in the project all the money intended for the agricultural business just before the project began to fall down quickly.
Another man took a loan from the bank, too, before the fall of the project. I hope these stories have taught them something and they are not in prison now. I'm sure that there were many more similar stories but these two I remembered the most
By the word FTX founder recently had the same situation when he used other people's money and it ended badly