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> initially he was convicted but since no one lost any money his sentencing guidelines were (...)

So.. If I try to rob a bank and fail and no money is stolen, then the sentence should be reduced?

Running a hedge fund in completely different than robing a bank. You should use at least an iota of intelligence before commenting.

Sure, you don't go to prison for running hedge fund. That is legal. He was not convinced for running fund.

And yet, you avoided answering the question :-)

No your sentence should be that of whats historically been the sentence, not 700% more than average.