When will Sam Bankman-Fried go to jail?

[8rch7]

It appears the quickness and speed of how long the regulators act on a case also depends on who were scammed by the scammers. Sam Bankrupt-Fried has chosen the wrong people to scam hehehehe. According to some news articles, the investors that Sam scammed included Robert Kraft the owner of the New England Patriots, Tom Brady the quarterback of Tampa Bay Buccaneers, his super model wife Gisselle Bünchen, Joe Tsai the cofounder of Alibaba and other sports celebrities.

Do Kwon might have done it correctly because he only scammed his users and his fellow ponzi schemers hehe. It is speculated that he is in Singapore.

Sam bankman fried was arrested on December 13 2022, the arrest took place after the prosecutor's office received an official notification from the United States, even though sam bankman fried had been charged with eight criminal charges including fraud and money laundering but sam bankman fried still pleaded not guilty, the court even acquitted sam bankman fried with a guarantee of USD 250 million or the equivalent of 3.8 trillion, the explosion of the ftx collapse case sent a new shock wave through the cryptocurrency industry, which pushed the value of bitcoin sharply lower for 2022 .

[kro55]

It appears the quickness and speed of how long the regulators act on a case also depends on who were scammed by the scammers. Sam Bankrupt-Fried has chosen the wrong people to scam hehehehe. According to some news articles, the investors that Sam scammed included Robert Kraft the owner of the New England Patriots, Tom Brady the quarterback of Tampa Bay Buccaneers, his super model wife Gisselle Bünchen, Joe Tsai the cofounder of Alibaba and other sports celebrities.

Do Kwon might have done it correctly because he only scammed his users and his fellow ponzi schemers hehe. It is speculated that he is in Singapore.

Sam bankman fried was arrested on December 13 2022, the arrest took place after the prosecutor's office received an official notification from the United States, even though sam bankman fried had been charged with eight criminal charges including fraud and money laundering but sam bankman fried still pleaded not guilty, the court even acquitted sam bankman fried with a guarantee of USD 250 million or the equivalent of 3.8 trillion, the explosion of the ftx collapse case sent a new shock wave through the cryptocurrency industry, which pushed the value of bitcoin sharply lower for 2022 .

Although the crash of FTX caused a shock wave in the crypto world, it did not, in my view, cause bitcoin to plummet as you say. If I'm not mistaken, before the FTX crash, bitcoin price was at 17k, 18k, and after the crash bitcoin dropped to 15.5k. This drop is nothing compared to previous drops from ATH to $30k or the demise of Luna. The collapse of FTX only caused significant damage to those investors who had trusted to leave their money on FTX.

[TimeTeller]

It appears the quickness and speed of how long the regulators act on a case also depends on who were scammed by the scammers. Sam Bankrupt-Fried has chosen the wrong people to scam hehehehe. According to some news articles, the investors that Sam scammed included Robert Kraft the owner of the New England Patriots, Tom Brady the quarterback of Tampa Bay Buccaneers, his super model wife Gisselle Bünchen, Joe Tsai the cofounder of Alibaba and other sports celebrities.

Do Kwon might have done it correctly because he only scammed his users and his fellow ponzi schemers hehe. It is speculated that he is in Singapore.

Sam bankman fried was arrested on December 13 2022, the arrest took place after the prosecutor's office received an official notification from the United States, even though sam bankman fried had been charged with eight criminal charges including fraud and money laundering but sam bankman fried still pleaded not guilty, the court even acquitted sam bankman fried with a guarantee of USD 250 million or the equivalent of 3.8 trillion, the explosion of the ftx collapse case sent a new shock wave through the cryptocurrency industry, which pushed the value of bitcoin sharply lower for 2022 .

Although the crash of FTX caused a shock wave in the crypto world, it did not, in my view, cause bitcoin to plummet as you say. If I'm not mistaken, before the FTX crash, bitcoin price was at 17k, 18k, and after the crash bitcoin dropped to 15.5k. This drop is nothing compared to previous drops from ATH to $30k or the demise of Luna. The collapse of FTX only caused significant damage to those investors who had trusted to leave their money on FTX.

FTX drama may not have significant impact with bitcoin's price but we have seen that sentiments were fairly negative at that period.
Now, that FTX is claiming they seemingly to recover about $5B assets, the mood changes as people see hope for this case.
But in any case, I don't think SBF will be jailed as it seems, there are financial backers that may possibly want to bail him out.
Bail him out meaning, there may be big financial investors that will possibly assist in the recovery of his business.

[franky1]

there may be big financial investors that will possibly assist in the recovery of his business.

any business that sees another business with a customer list(bigdata) of 1.2m people willing to invest ~$400m(combined) in bitcoin alone(20k of btc) is a $300 'product purchase' per customer, userbase which they can earn atleast $1 a trade in fee's per user (over $1m per trade combined users) does look appealing for any business wanting to operate and manage those customers for a few years.

..
however scam bankman fraud would really need to prove that customer lost alot less then the "billions" to bring his crime rating number down. and then talk about a deal to swap consecutive jail time for a combined fine. if he ever wants a chance of seeing freedom anytime soon

[len01]

FTX drama may not have significant impact with bitcoin's price but we have seen that sentiments were fairly negative at that period.
Now, that FTX is claiming they seemingly to recover about $5B assets, the mood changes as people see hope for this case.
But in any case, I don't think SBF will be jailed as it seems, there are financial backers that may possibly want to bail him out.
Bail him out meaning, there may be big financial investors that will possibly assist in the recovery of his business.

that's for sure, because surely there will be big investors who take advantage of this situation to save SBF and later want to work together to build again on several cryptocurrency projects, I'm very sure of that.
dramas like this are very predictable, of course, behind SBF there are many supporters who want to help or instead take advantage of the situation for personal gain in the future to cooperate with SBF and maybe SBF if in prison will also be placed in a special place.

about the FTX collapse, maybe it has a little effect on the price of bitcoin because there is an impact from it all, but we all know that the impact is only temporary and will definitely recover again.

[kro55]

It appears the quickness and speed of how long the regulators act on a case also depends on who were scammed by the scammers. Sam Bankrupt-Fried has chosen the wrong people to scam hehehehe. According to some news articles, the investors that Sam scammed included Robert Kraft the owner of the New England Patriots, Tom Brady the quarterback of Tampa Bay Buccaneers, his super model wife Gisselle Bünchen, Joe Tsai the cofounder of Alibaba and other sports celebrities.

Do Kwon might have done it correctly because he only scammed his users and his fellow ponzi schemers hehe. It is speculated that he is in Singapore.

Sam bankman fried was arrested on December 13 2022, the arrest took place after the prosecutor's office received an official notification from the United States, even though sam bankman fried had been charged with eight criminal charges including fraud and money laundering but sam bankman fried still pleaded not guilty, the court even acquitted sam bankman fried with a guarantee of USD 250 million or the equivalent of 3.8 trillion, the explosion of the ftx collapse case sent a new shock wave through the cryptocurrency industry, which pushed the value of bitcoin sharply lower for 2022 .

Although the crash of FTX caused a shock wave in the crypto world, it did not, in my view, cause bitcoin to plummet as you say. If I'm not mistaken, before the FTX crash, bitcoin price was at 17k, 18k, and after the crash bitcoin dropped to 15.5k. This drop is nothing compared to previous drops from ATH to $30k or the demise of Luna. The collapse of FTX only caused significant damage to those investors who had trusted to leave their money on FTX.

FTX drama may not have significant impact with bitcoin's price but we have seen that sentiments were fairly negative at that period.
Now, that FTX is claiming they seemingly to recover about $5B assets, the mood changes as people see hope for this case.
But in any case, I don't think SBF will be jailed as it seems, there are financial backers that may possibly want to bail him out.
Bail him out meaning, there may be big financial investors that will possibly assist in the recovery of his business.

5.5 billion were recovered, including cash, crypto assets, and securities. But the amount that FTX has to pay to the victims is estimated at 10-13 billion, so I think it is very difficult for retail investors to receive compensation. I think FTX will prioritize compensation to large shareholders and companies so that they continue to avoid bankruptcy and cause more collapses. And for retail investors really too fragile to receive any compensation.

[franky1]

5.5 billion were recovered, including cash, crypto assets, and securities. But the amount that FTX has to pay to the victims is estimated at 10-13 billion, so I think it is very difficult for retail investors to receive compensation. I think FTX will prioritize compensation to large shareholders and companies so that they continue to avoid bankruptcy and cause more collapses. And for retail investors really too fragile to receive any compensation.

be aware.. those numbers include the VALUELESS/worthless crap token FTT
where by some of the users "balance" were deemed worth X due to 2021 highs. rather than their deposit amount

what users expect is the high. but what accountants will end up showing will be a lower balance value based on a non high month

[kashif221993]

I don't think Sam Bankman Fried go to jail. Since he was denied bail in the Bahamas. Bankman-fried has been held at the fox hill correctional center in nassau with five other people.

[franky1]

I don't think Sam Bankman Fried go to jail. Since he was denied bail in the Bahamas. Bankman-fried has been held at the fox hill correctional center in nassau with five other people.

^
old news from december
since then he has been moved to america, went to court in america and given bail and currently living with his parents. the trial is set for october 2023. i hope you are upto date now

[countryfree]

Although the crash of FTX caused a shock wave in the crypto world, it did not, in my view, cause bitcoin to plummet as you say. If I'm not mistaken, before the FTX crash, bitcoin price was at 17k, 18k, and after the crash bitcoin dropped to 15.5k. This drop is nothing compared to previous drops from ATH to $30k or the demise of Luna. The collapse of FTX only caused significant damage to those investors who had trusted to leave their money on FTX.

It did. BTC was over 20k before the FTX collapse, and that made BTC loose more than 15% of its value within less than 24 hours, so that was really a shock. The most troublesome being that SBF was seen as the good guy. A man you can trust. If he's a crook, then the whole crypto world is corrupted...

I still don't understand how the man managed to be freed on bail without actually funding that bail, but at last, somehow, justice is on the way. Or some perverted kind of justice? I see the case as a test for the US judicial system.

[franky1]

It did. BTC was over 20k before the FTX collapse, and that made BTC loose more than 15% of its value within less than 24 hours, so that was really a shock. The most troublesome being that SBF was seen as the good guy. A man you can trust. If he's a crook, then the whole crypto world is corrupted...

I still don't understand how the man managed to be freed on bail without actually funding that bail, but at last, somehow, justice is on the way. Or some perverted kind of justice? I see the case as a test for the US judicial system.

scam bankman fraud was dong nothing different than the fiat bankers.. but dont tar crypto with the brush of fiat banker mindset
yes they have services setup at the offramps of crypto. but that does not mean that a crypto asset is bad due to wrecklessness of human greed at the edges

also the bail was a contract of 3 relatives plus a lawyer being "trust" of $300m of SBF collateral which they would surrender to the court if SBF were to abscond. due to some relatives and lawyer having some legal licences that can also be revoked if they fail to pay the obligations upon absconding, the court judge at the time(has a personal connection to them) decided that was enough leverage to scare SBF into not running, and enough fear to the "trust" licence revokes and reputation harm of the $250m bail amount to ensure payment would be made if abscond.. thus no real money needed to change hands(though it should have done!)

[Cryptmuster]

that's for sure, because surely there will be big investors who take advantage of this situation to save SBF and later want to work together to build again on several cryptocurrency projects, I'm very sure of that.
dramas like this are very predictable, of course, behind SBF there are many supporters who want to help or instead take advantage of the situation for personal gain in the future to cooperate with SBF and maybe SBF if in prison will also be placed in a special place.

about the FTX collapse, maybe it has a little effect on the price of bitcoin because there is an impact from it all, but we all know that the impact is only temporary and will definitely recover again.

You see, for SBF is trying to help in every possible way, even the recent detection of funds (about 4 billion) is aimed at somehow softening the negative attitude towards him and mitigating the punishment for him, and the postponement of the trial to October is also designed for this, this is the competent work of lawyers, who earn a lot of money for their work.

Of course, the collapse of the FTX had a great impact on the price of bitcoin, but now we can say, that bitcoin won back this drawdown, with a recent movement to 21k. The market recovered quite quickly and the positive news about the discovered funds played an important role in this.

[slaman29]

also the bail was a contract of 3 relatives plus a lawyer being "trust" of $300m of SBF collateral which they would surrender to the court if SBF were to abscond. due to some relatives and lawyer having some legal licences that can also be revoked if they fail to pay the obligations upon absconding, the court judge at the time(has a personal connection to them) decided that was enough leverage to scare SBF into not running, and enough fear to the "trust" licence revokes and reputation harm of the $250m bail amount to ensure payment would be made if abscond.. thus no real money needed to change hands(though it should have done!)

Yeah, that is a simplified way thanks for explaining this. I knew he got on bail, I knew it was something to do with collateral, and I know a lot of people think it's not right but legally, this is what happens all the time. No money moved.

Now that they've also recovered 5 billion, this bail amount doesn't seem much at all, especially if the most likely is that it will harm future reputation of all involved. And you know for sure this isn't the end for them, they want to pick up again.

[Marvell1]

FTX drama may not have significant impact with bitcoin's price but we have seen that sentiments were fairly negative at that period.
Now, that FTX is claiming they seemingly to recover about $5B assets, the mood changes as people see hope for this case.
But in any case, I don't think SBF will be jailed as it seems, there are financial backers that may possibly want to bail him out.
Bail him out meaning, there may be big financial investors that will possibly assist in the recovery of his business.

that's for sure, because surely there will be big investors who take advantage of this situation to save SBF and later want to work together to build again on several cryptocurrency projects, I'm very sure of that.
dramas like this are very predictable, of course, behind SBF there are many supporters who want to help or instead take advantage of the situation for personal gain in the future to cooperate with SBF and maybe SBF if in prison will also be placed in a special place.

about the FTX collapse, maybe it has a little effect on the price of bitcoin because there is an impact from it all, but we all know that the impact is only temporary and will definitely recover again.

I don't think big investors will find a way to save him and will cooperate with him in the future, with the scam scandal, no one will have the courage and confidence to invest in any project in which with the presence of SBF or Dokwon. Recently, the founder of Three Arrows Capital wanted to raise capital to open an exchange called GTX, and they received more ridicule and criticism than support. Shows that scammers of the past, they will never get a chance to contribute to the market again.

[franky1]

Recently, the founder of Three Arrows Capital wanted to raise capital to open an exchange called GTX, and they received more ridicule and criticism than support. Shows that scammers of the past, they will never get a chance to contribute to the market again.

that game is simple
if 3AC had say $3,500m of debt it owes customers(via other agents/companies)
if it can get those customers to sell their(other agents/companies) user accounts for say 10% of whats owed
then for $350m it can write off its own $3.5b debts to customers

their not doing it out of the goodness of their hearts to give money to customers.
its to buy back their own debt at discount to then lower their own bills they owe customers in the bankruptcy route by getting customers to give up their right over their account balances owed

thus if there was say $2b found in the bankruptcy administration accounts. they can cut off their $3.5b down to $350m. thus then the 3AC get to keep $1.65b themselves free and clear and not have to proceed with bankruptcy/class actions to try and find $3.5b to cover all customer obligations

funnier thing
they quote

have the option to convert their claims into equity in the new claim-trading company

basically suggesting not getting real value out to give to said customers but swapping the customers account rights/debt. into a new [lets call it a GTT] token ('equity of their company'). which they can then trade if they can get any outsider cex to then accept the token they create

[countryfree]

also the bail was a contract of 3 relatives plus a lawyer being "trust" of $300m of SBF collateral which they would surrender to the court if SBF were to abscond. due to some relatives and lawyer having some legal licences that can also be revoked if they fail to pay the obligations upon absconding, the court judge at the time(has a personal connection to them) decided that was enough leverage to scare SBF into not running, and enough fear to the "trust" licence revokes and reputation harm of the $250m bail amount to ensure payment would be made if abscond.. thus no real money needed to change hands(though it should have done!)

Yeah, that is a simplified way thanks for explaining this. I knew he got on bail, I knew it was something to do with collateral, and I know a lot of people think it's not right but legally, this is what happens all the time. No money moved.

Now that they've also recovered 5 billion, this bail amount doesn't seem much at all, especially if the most likely is that it will harm future reputation of all involved. And you know for sure this isn't the end for them, they want to pick up again.

Yes, it's twisted but they say it's legal so I guess it is. What I criticize is that if I would be arrested (or any average person) with the possibility to be freed on bail, I wouldn't be able to do anything like that. I hope that when it will come to penalty, SBF will get the normal penalty, and not anything twisted like this.

[bbc.reporter]

News update.

Whoever is behind Sam Bankrupt-Fried might be ready to terminate him if he begins to show that he will talk and tell the truth behind the real purpose of the creation of FTX.

I have said this months before. If something happens, Sam did not kill himself.



In a recent court filing, lawyers demanded the kith and kin of Bankman-Fried to answer questions and furnish financial documents about their personal wealth. In addition, lawyers have also asked for other documentation that may reveal any sort of FTX money transfer.

The filing went on to disclose that Sam Bankman-Fried’s brother, Gabriel Bankman-Fried, founded an organization that lobbied members of the US Congress. It was reportedly based out of a property situated near the US Capitol.

Source https://watcher.guru/news/sbfs-brother-founded-an-organization-to-lobby-congress-members

[franky1]

its SBF mother, father brother and one other person acting as bail guarantor. so ofcourse the origins of their wealth guaranteeing his bail are to be questioned

if lets say SBF absconds and its found out the fine for absconding was paid for using SBF theft fund. then it makes a hypocrisy of the entire bail system.. by crime funding crime funding freedom from crime

[Gcrypto786]

News update.

Whoever is behind Sam Bankrupt-Fried might be ready to terminate him if he begins to show that he will talk and tell the truth behind the real purpose of the creation of FTX.

I have said this months before. If something happens, Sam did not kill himself.



In a recent court filing, lawyers demanded the kith and kin of Bankman-Fried to answer questions and furnish financial documents about their personal wealth. In addition, lawyers have also asked for other documentation that may reveal any sort of FTX money transfer.

The filing went on to disclose that Sam Bankman-Fried’s brother, Gabriel Bankman-Fried, founded an organization that lobbied members of the US Congress. It was reportedly based out of a property situated near the US Capitol.

Source https://watcher.guru/news/sbfs-brother-founded-an-organization-to-lobby-congress-members

Before Investing in crypto, all investors know that it's very Risky, and the price fluctuations is more then Fait, but still, users want to be rich or want to hide their money using Crypto tech.
We have already seen LUNA Crash before the FTX crash, and there was also news that small investors loss all their money and a few attempt suicide, but now again the FTX and in future may be SOL.

[crypticj]

At this point, it feels like he won't go to jail. Feels like everyone is covering for him. I think he might manage to pay some users back before the trial so they will go easy on him. But I want to see this dude in jail cos if he will be out, he will make FTX 2.0 in no time.