When will Sam Bankman-Fried go to jail?

[franky1]

when they say "$8billion"
i feel his is not 8bill of real asset like btc.
but instead like a co-mingled total of just 20k btc($460m @$23k/coin)
and 7.5billion of the fictitious value of FTT pump token

which was a 320million circulation token that got pumped to at one point $100/ftt
to make it appear as FTC was valued at $32bill
where if only 25% of tokens sold(combined) would have a faked value of ~$7.5bill at its ATH

however this is fake value after all. not the purchase price everyone paid for the token on the days they deposited.

thus this 'users lost X' amount will shrink when calculating how much they actually deposited. rather than how much users think they are owed based on an ATH temporary event

i do not think the court would even take a market price date of oct31st as a valid 'last open value' of the tokens(under $2b)
i feel the number would be far less

however still showing as over $500m in total of all asset types and losses to give SBF a high prison time rating number

unless SBF can repay down that amount to a way way way lower number (paying off most of the debt) to save himself from decades in prison

[1714656276]

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[Fiatless]

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.

Sam Bankman-Fried would go to jail because many of his accomplices are willing to testify against him in court. And I am sure that they have various documents or facts that can serve as concrete evidence. But his incarceration won't be long because he might not serve the entire prison term. It is possible he might be released on parole or might just get a presidential pardon.

[OgNasty]

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.

I agree that it is feeling more and more like he won't be going to jail.  Now his cohorts aren't cooperating with the investigation and SBF is being accused of communicating with them via encrypted messages, likely influencing their decision.  While this is probably another offense that should land him in jail, he made the right friends and bought his freedom while times were still going well, so I wouldn't be surprised if his "jail" ends up being a plush condo on a beach somewhere.  I had hope that Caroline was going to spill the beans and throw SBF under the bus for her own freedom, but now it seems like he's convinced her they can escape this if they work together, which is what appears to now be happening. 

[uneng]

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.

Sam Bankman-Fried would go to jail because many of his accomplices are willing to testify against him in court. And I am sure that they have various documents or facts that can serve as concrete evidence. But his incarceration won't be long because he might not serve the entire prison term. It is possible he might be released on parole or might just get a presidential pardon.

Someone who steals 8$ billion dollars doesn't go to jail. That is enough wealth to bribe a lot of people in key positions and to acquire a lot of influence on the case. What could make the difference, like in every judicial cases, was a close and real time coverage from the media, 24/7 on news, but since it's not happening, most people don't even know about this theft, therefore popular indignation and demand for the arrest of criminals is low in society.

[franky1]

its not funny.. but noticeable how we all see it on the news
black unemployed guy does fraud of $100.. ends up arrested within minutes of claim.. and then dead-by-cop less than 10 minutes after being handcuffed, just metres and minutes from the scene of the fraud - g.floyd

white guy does fraud, manages to spend weeks in his resort mansion. and then carefully arrested, allowed time to even change into a suit before being shuttled away, spends a bit of time in a jail then given a free ticket to another country, allowed to take drugs in court bathroom and then allowed on bail to live with parents without a bruise or bail payment required, even after defrauding hundreds of milions-billions

(im white but i see the preferential/un-preferential  treatment of certain people)

[bbc.reporter]

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

I cannot stop myself from speculating if the community thinks until now if Sam Bankrupt-Fried is a real exchange CEO and if FTX is a real start up in the cryptospace. I reckon if the community does not speculate anything strange about Sam's operation, we should be using our brains more hehe. It is becoming a possible storyline that Sam might have backers from politics and FTX might have been created for purpose of a global moneylaundering operation. Can anyone today, after witnessing what has occured, tell me that this is a very absurd idea?

[Jackthelad]

Would make sense in a lot of respects that he and FTX were a money laundering operation on a huge scale for vested parties .
Unfortunately a lot of that occurs in the Crypto space not sure how one would curtail it

[zugneyatro]

unfortunately i think in the end it will slowly and quietly be forgotten about,with every now and then news about the case but never a concrete sentence,meanwhile we have people like ross ulbricht facing life in prison,it just doesn't make any sense.

[ibminer]

(im white but i see the preferential/un-preferential  treatment of certain people)

You're seeing class treatment of people with money and connections.. a black guy with money and connections would have been treated in a similar fashion. If Will Smith or dare I say Bill Cosby did the same thing as SBF, he'd be treated the same. Stop making everything about race. *smh*  Ross is in jail for how long?  Must be because he's black.. oh wait, he's not.. nope, they were able to get his funds and didn't need him, and he had no real connections with powerful people, the color of his skin didn't matter.

As for SBF, more disappointment in the justice system.. we're heading towards this:
.. aaand he's gone.

[franky1]

I cannot stop myself from speculating if the community thinks until now if Sam Bankrupt-Fried is a real exchange CEO and if FTX is a real start up in the cryptospace. I reckon if the community does not speculate anything strange about Sam's operation, we should be using our brains more hehe. It is becoming a possible storyline that Sam might have backers from politics and FTX might have been created for purpose of a global moneylaundering operation. Can anyone today, after witnessing what has occured, tell me that this is a very absurd idea?

if you wash away the media narrative sponsored by fox news types.. you can learn more

if you think its just a money laundering effort for the bidens. you are watching too much fox news/trump social drama claims

[Obari]

My BTC savings have lost much value this month, and I know why. We all know. It's the FTX's debacle. Some say it's doomsday for cryptos, but it isn't. There's nothing wrong with BTC. What's wrong is that one crook has stolen honest people's money to make shady investments.

There's only one solution to restore people's confidence. Put the bad guy in jail for a long, long time.

I really don't thinking putting him in jail will or might restore the people's confidence in Bitcoin.
Those who believe in Bitcoin will also come to agree with me that Bitcoin has faced severe down times even worst than this but it will definitely bounce back and that's definitely certain for Bitcoin.
I'm sorry for all those who got their hard earned money taken in this situation but the I'm sure this will also serve as a lesson to every other users of private exchanges.

[AverageGlabella]

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.

I agree that it is feeling more and more like he won't be going to jail.  Now his cohorts aren't cooperating with the investigation and SBF is being accused of communicating with them via encrypted messages, likely influencing their decision.  While this is probably another offense that should land him in jail, he made the right friends and bought his freedom while times were still going well, so I wouldn't be surprised if his "jail" ends up being a plush condo on a beach somewhere.  I had hope that Caroline was going to spill the beans and throw SBF under the bus for her own freedom, but now it seems like he's convinced her they can escape this if they work together, which is what appears to now be happening. 

How can they admit to fraud and then stop communicating to the authorities or am I not understanding something? AFAIK they would be required by law to disclose every information they have on Sam Bankman-Fried or they would be facing jail time for conclusion of a criminal?

I wonder how much money this man offered these people to keep quiet. I do think they all end up in jail but it will probably be a long time because this will be fought in the courts for years.

[NotATether]

My BTC savings have lost much value this month, and I know why. We all know. It's the FTX's debacle. Some say it's doomsday for cryptos, but it isn't. There's nothing wrong with BTC. What's wrong is that one crook has stolen honest people's money to make shady investments.

There's only one solution to restore people's confidence. Put the bad guy in jail for a long, long time.

I really don't thinking putting him in jail will or might restore the people's confidence in Bitcoin.
Those who believe in Bitcoin will also come to agree with me that Bitcoin has faced severe down times even worst than this but it will definitely bounce back and that's definitely certain for Bitcoin.
I'm sorry for all those who got their hard earned money taken in this situation but the I'm sure this will also serve as a lesson to every other users of private exchanges.

A lesson??! People will never learn from this. They will just fall for whatever FTX scam comes next.

Think about it, they give someone a [double] life sentence for running a darknet drugs store, but they can't even imprison a guy who stole money from millions of clients, including corporations?

At this point, everyone should file a class action lawsuit against him (specifically). The exchange was too dumb to prohibit that in their terms of service.

If even Ruja Ignatova the mastermind of the onecoin scam was finally found (yes, this happened!) and taken to custody (??), what makes a random founder safe from that fate?

[JayJuanGee]

My BTC savings have lost much value this month, and I know why. We all know. It's the FTX's debacle. Some say it's doomsday for cryptos, but it isn't. There's nothing wrong with BTC. What's wrong is that one crook has stolen honest people's money to make shady investments.

There's only one solution to restore people's confidence. Put the bad guy in jail for a long, long time.

I really don't thinking putting him in jail will or might restore the people's confidence in Bitcoin.
Those who believe in Bitcoin will also come to agree with me that Bitcoin has faced severe down times even worst than this but it will definitely bounce back and that's definitely certain for Bitcoin.
I'm sorry for all those who got their hard earned money taken in this situation but the I'm sure this will also serve as a lesson to every other users of private exchanges.

A lesson??! People will never learn from this. They will just fall for whatever FTX scam comes next.

Think about it, they give someone a [double] life sentence for running a darknet drugs store, but they can't even imprison a guy who stole money from millions of clients, including corporations?

At this point, everyone should file a class action lawsuit against him (specifically). The exchange was too dumb to prohibit that in their terms of service.

If even Ruja Ignatova the mastermind of the onecoin scam was finally found (yes, this happened!) and taken to custody (??), what makes a random founder safe from that fate?

I have not seen anything that shows that Ruja has actually been seen or put into custody for that matter.  One of her properties have been seen/identified, but is she there?  Was she there recently?

It seems that Sam would have a more difficult time fleeing for 5 years, but you never know, if he can get that bracelet off, get into some kind of a private transportation and make it somewhere in which he might blend in or have some kind of change to his appearance.. .. At some point, we might start to see others arrested and brought upon charges connected with the whole fraudulent scheme.

[bbc.reporter]

(im white but i see the preferential/un-preferential  treatment of certain people)

You're seeing class treatment of people with money and connections.. a black guy with money and connections would have been treated in a similar fashion. If Will Smith or dare I say Bill Cosby did the same thing as SBF, he'd be treated the same. Stop making everything about race. *smh*  Ross is in jail for how long?  Must be because he's black.. oh wait, he's not.. nope, they were able to get his funds and didn't need him, and he had no real connections with powerful people, the color of his skin didn't matter.

As for SBF, more disappointment in the justice system.. we're heading towards this:
.. aaand he's gone.

It also depends on who the scammer stole money from. Sam Bankrupt-Fried's quick indictment and extradition was because he scammed the wrong people. Arthur Hayes is black, however, the punishment he received was only a slap on the wrist and he is presently allowed back to Bitmex.

Do Kwon and Su Zhu are Asian but scammed the right type of people. The normal cryptobros of the community and the ponzi scheme operators in the cryptospace. The government would not be quick to waste resources on them hehehe.

[Sithara007]

OK guys.. it has been many months since we had a debate on this topic. 6-7 months back, I made a prediction that Sam Bankman Fraud will not spend more than a week in prison. And my prediction came true. Currently he is on "house arrest" in Palo Alto, California. When we mention "house arrest" please remember that in case of Sam Bankman Fraud it means that he is staying at his home with all 7-star facilities doing whatever he want. I won't be surprised if he arranges gay prostitutes to visit him during this "house arrest". Steal 8 billion USD from hardworking people and take away their life savings, and all this guy gets is a couple of days behind bars. This is what we call as "liberal privilege". Compare his case to that of someone like Allen Stanford, who has been in prison since 2012, with no possibility of parole.

[bakasabo]

He is not in jail, because no charges were filed and the prosecutor did not determine the punishment yet. Trial is set on October 2, 2023. So right now Sam in enjoying his life and creating a defensive strategy. I am sure, that on October 2, nothing will be decided and there will either second, third or another hearing, or the trial will be postponed. Even if he gets in jail, he wont be in regular jail. In US there are many private jail, and he will find himself a "7-star facility with high walls».

[Outhue]

Correct, Sam is not going to jail it seems, and the stupid Gensler is not even digging more into the FTX case, instead they target Coinbase and mainly Binance exchange, this is the part where I believe that Gensler and Sam with Kevin can be an accomplice in this crime, CZ also revealed that in 2019, Gensler offered to be appointed as Binance advisor and he was turned down.

The case of Sam and FTX might not come to light if Sam was not a spoilt brat, and if he keeps doing this for long it will have a very bad effect in the future, I also feel like politicians are behind Sam and the FTX money manipulations.

[AmoreJaz]

He is not in jail, because no charges were filed and the prosecutor did not determine the punishment yet. Trial is set on October 2, 2023. So right now Sam in enjoying his life and creating a defensive strategy. I am sure, that on October 2, nothing will be decided and there will either second, third or another hearing, or the trial will be postponed. Even if he gets in jail, he wont be in regular jail. In US there are many private jail, and he will find himself a "7-star facility with high walls».

with the long days ahead, definitely, his lawyers know already how to get out of this situation. or at least not get a hard sentence from this failure.
with big money involved, i won't be surprised if he will make a deal to his favour. as he's awaiting trial from the comfort of his parents' home, we all know he's not just sitting and waiting, but for sure, he's also moving his funds without the authorities' knowledge.
hence, i don't think he will plead guilty in any of those criminal charges thrown to him.

[NotATether]

Correct, Sam is not going to jail it seems, and the stupid Gensler is not even digging more into the FTX case, instead they target Coinbase and mainly Binance exchange, this is the part where I believe that Gensler and Sam with Kevin can be an accomplice in this crime, CZ also revealed that in 2019, Gensler offered to be appointed as Binance advisor and he was turned down.

The case of Sam and FTX might not come to light if Sam was not a spoilt brat, and if he keeps doing this for long it will have a very bad effect in the future, I also feel like politicians are behind Sam and the FTX money manipulations.

Even though he classifies Bitcoin as a commodity, I'm starting to tire of him, and I'm pretty sure other Bitcoin maximalists feel the same way about him. He is just causing too much division in the crypto industry without changing anything, without even passing any regulations. This makes me believe that he is not serious about having the SEC regulate cryptocurrencies in any way, especially if Binance and Coinbase are more important to him than obvious rugpulls (and securities) $HEX and $PEPE.