Pending justice for SBF

[Lucius]

He got 25 years, for some it might be a lot, but I believe for the majority it's still too little considering that he will probably get out after serving 2/3 of his sentence, and maybe even before with good behavior and some other benefits of the US prison/justice system.

https://www.coindesk.com/policy/2024/03/28/sam-bankman-fried-ftx-sentencing/

[Majestic-milf]

He got 25 years, for some it might be a lot, but I believe for the majority it's still too little considering that he will probably get out after serving 2/3 of his sentence, and maybe even before with good behavior and some other benefits of the US prison/justice system.

https://www.coindesk.com/policy/2024/03/28/sam-bankman-fried-ftx-sentencing/

I quite agree. I just see this as a slap on the wrist, because considering the gravity of the crime, he's supposed to serve longer, if possible be given a life sentence. At least that was the penalty Ross Ulbricht was given and looking at the two, there is not much difference between their crimes so why does SBF get to be treated differently?

[larry_vw_1955]

I have read many opinions on this matter and my friends, lawyers in Europe, say that SBF will receive a long prison sentence, at least 20 years.

That estimate was close! Part of his sentencing should be if he appeals and loses it gets bumped up to 100 years WITHOUT the possibility of parole. He got a gift.

At least that was the penalty Ross Ulbricht was given and looking at the two, there is not much difference between their crimes so why does SBF get to be treated differently?

Because maybe SBF had alot of money to pay people. Now I'm not saying that he paid the judge off but I think this whole trial was just a formality.

[zasad@]

I have read many opinions on this matter and my friends, lawyers in Europe, say that SBF will receive a long prison sentence, at least 20 years.

That estimate was close! Part of his sentencing should be if he appeals and loses it gets bumped up to 100 years WITHOUT the possibility of parole. He got a gift.

At least that was the penalty Ross Ulbricht was given and looking at the two, there is not much difference between their crimes so why does SBF get to be treated differently?

Because maybe SBF had alot of money to pay people. Now I'm not saying that he paid the judge off but I think this whole trial was just a formality.

This suggests that the lawyers I know understand more about these nuances. To file an appeal, you need very serious circumstances and facts that have not yet been announced in court before. And in order to get out of prison for good behavior, you need to serve a certain period of time there. In Russia, this only works after a person has served 2/3 of his sentence.

[larry_vw_1955]

This suggests that the lawyers I know understand more about these nuances. To file an appeal, you need very serious circumstances and facts that have not yet been announced in court before. And in order to get out of prison for good behavior, you need to serve a certain period of time there. In Russia, this only works after a person has served 2/3 of his sentence.

so the jury did their part finding him guilty on all 7 counts and all the judge could do is slap him on the wrist. this justice system is a joke. pathetic judge. he didn't really take the jury's verdict seriously at all. thats one thing that is wrong with the justice system is how a judge can just overrride what the jury wants. because i am sure they wanted more than 25 years (12 with good behavior).

https://www.businessinsider.com/sam-bankman-fried-eating-disgusting-looking-beans-week-old-lettuce-2024-2

"Even though twelve out of every fourteen of Sam's weekly meals are just undercooked rice, a scoop of disgusting-looking beans and week-old brown lettuce, Sam has stayed true to his commitment to not participate in the maltreatment of animals," Simpson said in his letter.

but he didn't have any problems mistreating fellow human beings.  if he really is vegan then he should be HAPPY to be getting rice and beans...that's what "vegans" eat  

[zasad@]

This suggests that the lawyers I know understand more about these nuances. To file an appeal, you need very serious circumstances and facts that have not yet been announced in court before. And in order to get out of prison for good behavior, you need to serve a certain period of time there. In Russia, this only works after a person has served 2/3 of his sentence.

so the jury did their part finding him guilty on all 7 counts and all the judge could do is slap him on the wrist. this justice system is a joke. pathetic judge. he didn't really take the jury's verdict seriously at all. thats one thing that is wrong with the justice system is how a judge can just overrride what the jury wants. because i am sure they wanted more than 25 years (12 with good behavior).

https://www.businessinsider.com/sam-bankman-fried-eating-disgusting-looking-beans-week-old-lettuce-2024-2

"Even though twelve out of every fourteen of Sam's weekly meals are just undercooked rice, a scoop of disgusting-looking beans and week-old brown lettuce, Sam has stayed true to his commitment to not participate in the maltreatment of animals," Simpson said in his letter.

but he didn't have any problems mistreating fellow human beings.  if he really is vegan then he should be HAPPY to be getting rice and beans...that's what "vegans" eat  

The court verdict for SBF has already been made, and the nuances of American justice are of no interest to most readers.
Am I the only one who wonders what will happen to the Gary Potter fan(Caroline Ellison) and other participants in the fraudulent scheme, or will SBF be responsible for everything alone?

What an awesome story? 
https://www.firstpost.com/explainers/ftx-fraud-sam-bankman-fried-ex-caroline-ellison-testimony-alameda-research-ceo-13754095.html

[larry_vw_1955]

The court verdict for SBF has already been made, and the nuances of American justice are of no interest to most readers.

anyone that lost money in sam's little scam no matter where they live is interested in seeing him punished in full and also getting repaid, not just the fiat value of their coins at the time but the full fiat value of what their bitcoin is worth NOW. which is alot more but can never happen.

Am I the only one who wonders what will happen to the Gary Potter fan(Caroline Ellison) and other participants in the fraudulent scheme, or will SBF be responsible for everything alone?

sam should be held resposible for EVERYTHING. clearly he wasn't. people will not be repaid in full not now not ever. even if bitcoin goes to $100,000. the only they could get paid back is if bitcoin went down to $1000. then sam could scoop it up cheap and repay all those people their bitcoin then...until he does that, i say keep him locked up.

[zasad@]

The court verdict for SBF has already been made, and the nuances of American justice are of no interest to most readers.

anyone that lost money in sam's little scam no matter where they live is interested in seeing him punished in full and also getting repaid, not just the fiat value of their coins at the time but the full fiat value of what their bitcoin is worth NOW. which is alot more but can never happen.

Am I the only one who wonders what will happen to the Gary Potter fan(Caroline Ellison) and other participants in the fraudulent scheme, or will SBF be responsible for everything alone?

sam should be held resposible for EVERYTHING. clearly he wasn't. people will not be repaid in full not now not ever. even if bitcoin goes to $100,000. the only they could get paid back is if bitcoin went down to $1000. then sam could scoop it up cheap and repay all those people their bitcoin then...until he does that, i say keep him locked up.

Any investor who has lost their money in SBF's little scam should first think twice before making any further investments. A smart investor diversifies risks so that in the event of a scam, he does not lose all his capital. And if someone invests all-in, then SBF is not to blame. The idiot will still lose his money.
I lost some of my money because I diversified it into the Terra USD stablecoins of the Do Kwon project. But personally, I don't care whether Do Kwon is punished or not. I made bad decisions, so I don't hate Do Kwon.

[DaveF]

The court verdict for SBF has already been made, and the nuances of American justice are of no interest to most readers.
Am I the only one who wonders what will happen to the Gary Potter fan(Caroline Ellison) and other participants in the fraudulent scheme, or will SBF be responsible for everything alone?

What an awesome story? 
https://www.firstpost.com/explainers/ftx-fraud-sam-bankman-fried-ex-caroline-ellison-testimony-alameda-research-ceo-13754095.html

The 1st to flip gets the best deal. The 2nd to flip gets a slightly worse one. What # in line was she to turn on him?
He will probably do 80% of the time so 20 years. A part of the problem is the lack of laws regarding this. The FRAUD was easy to come up with an amount of time.
The other side of running a scam exchange, the laws are murky there so.

As many lawyers have said, you don't go to court with the case you want you go with the case you have. The US system is based on innocent until PROVEN guilty.
From what I understand, the books were such a mess PROVING guilt was going to be difficult on some things. Knowing and proving are 2 different things.

https://www.youtube.com/watch?v=OZVYcpO6Mgk

-Dave

[larry_vw_1955]

Any investor who has lost their money in SBF's little scam should first think twice before making any further investments.

what exactly was his little scam, was he paying people 15% per month? i just thought FTX was a crypto exchange where people traded bitcoin so most of them had NO IDEA their money was being misused and lost. until they tried to withdraw what was rightfully theres then they found out all gone.

A smart investor diversifies risks so that in the event of a scam, he does not lose all his capital. And if someone invests all-in, then SBF is not to blame. The idiot will still lose his money.

i think FTX brought in alot of naive people who had never bought crypto before and had no idea about any of it they just saw some advertisement from FTX and thought it was legit. probably thought their money was insured by the FDIC.

I lost some of my money because I diversified it into the Terra USD stablecoins of the Do Kwon project. But personally, I don't care whether Do Kwon is punished or not. I made bad decisions, so I don't hate Do Kwon.

it was a game to you and you gambled and lost a bit. that's how you looked at it. but that's not how the government of his country might have looked at it! but anyone that wants to gamble needs to adopt your type of mindset no doubt. otherwise they'll be seeing the poor house

[safar1980]

Sam Bankman-Fried’s FTX workforce left depressed, unable to find work after crypto firm’s downfall: report
Some of Sam Bankman-Fried’s former staffers from his now-bankrupt FTX have reportedly struggled to land another job and have battled depression since the cryptocurrency exchange’s stunning downfall.

Natalie Tien, who led public relations for FTX and was also Bankman-Fried’s executive assistant, saw at least $500,000 in personal investments tied up in FTX and various crypto coins vanish upon FTX’s collapse in November 2022, according to the Wall Street Journal.

Tien told the Journal that in the months after Bankman-Fried was found out for having swiped FTX user funds to plug an $8 billion debt at sister company and failing hedge fund Alameda Research, she suffered from depression and would cry randomly in public, including in a New York City grocery store.

[zasad@]

Any investor who has lost their money in SBF's little scam should first think twice before making any further investments.

what exactly was his little scam, was he paying people 15% per month? i just thought FTX was a crypto exchange where people traded bitcoin so most of them had NO IDEA their money was being misused and lost. until they tried to withdraw what was rightfully theres then they found out all gone.

A smart investor diversifies risks so that in the event of a scam, he does not lose all his capital. And if someone invests all-in, then SBF is not to blame. The idiot will still lose his money.

i think FTX brought in alot of naive people who had never bought crypto before and had no idea about any of it they just saw some advertisement from FTX and thought it was legit. probably thought their money was insured by the FDIC.

I lost some of my money because I diversified it into the Terra USD stablecoins of the Do Kwon project. But personally, I don't care whether Do Kwon is punished or not. I made bad decisions, so I don't hate Do Kwon.

it was a game to you and you gambled and lost a bit. that's how you looked at it. but that's not how the government of his country might have looked at it! but anyone that wants to gamble needs to adopt your type of mindset no doubt. otherwise they'll be seeing the poor house

SBF has broken a lot of laws in the US and as a rule who rises very fast, falls very fast.
If you look at the experience of famous investors in the USA, such as Warren Buffet, I am sure that he did not lose even a cent in the SBF scam.
What claims can you have against a casino when you lose your money there. But casinos now have a more transparent and regulated business compared to what has happened and is happening now in the crypto market.

[larry_vw_1955]

SBF has broken a lot of laws in the US and as a rule who rises very fast, falls very fast.
If you look at the experience of famous investors in the USA, such as Warren Buffet, I am sure that he did not lose even a cent in the SBF scam.

i don't think much of warren buffet except that i don't find him to be a very interesting person. all he can do is spit out generic advice. i don't find him too helpful or insightful but maybe that's to my detriment. but when i heard he didn't think much of bitcoin that's when i knew i didn't really like him...

What claims can you have against a casino when you lose your money there. But casinos now have a more transparent and regulated business compared to what has happened and is happening now in the crypto market.

casinos its understood you are gambling. but when you win, you always get paid. no one is getting stiffed.

sam kind of reminds me of a warren buffet type. i don't see in them anything remarkable even though the world apparently LOVES them. but i remember seeing a shaq interview where he said he was skeptical of SBF from the getgo. shaq is no dummy unlike alot of people...

[zasad@]

Sure Warren Buffett may not be everyone's favorite, but at least he knows what he's talking about. Not like that farmer in the story below.

https://www.msn.com/en-us/money/other/sbf-is-going-to-prison-but-the-fight-over-money-at-ftx-drags-on/ar-BB1l7pw0
"Crypto has embarked on an epic rally, pushing bitcoin to around four times its price when FTX fell. The gains have enabled FTX’s bankruptcy estate to say it will settle many creditor claims in full, a prospect that seemed laughably optimistic when the firm collapsed.

Spring has brought a measure of justice for FTX’s victims: Sam Bankman-Fried, the crypto exchange’s founder, was sentenced last month to 25 years in prison for what prosecutors called one of the largest financial frauds in U.S. history.

But for many onetime FTX customers, the exchange’s collapse is still a source of anger and frustration. Some are fighting to recover what they can from bankruptcy trustees who are preparing to distribute billions of dollars as soon as this year. Others are regretting their decisions to sell the claims to their FTX accounts to savvy hedge funds for pennies on the dollar. Some of these hedge funds stand to double their investment or more when the distributions take place."

[FP91G]

Sam Bankman-Fried, facing the prospect of spending much of his adult life behind bars, on Thursday appealed his conviction and 25-year prison sentence for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded.
Defense lawyer Marc Mukasey had announced plans for the appeal to the Manhattan-based 2nd U.S. Circuit Court of Appeals during Bankman-Fried's March 28 sentencing hearing. The 32-year-old former billionaire crypto wunderkind was convicted in November on seven counts of fraud and conspiracy in what federal prosecutors have called one of the biggest financial frauds in U.S. history.
https://www.reuters.com/legal/bankman-fried-appeals-ftx-fraud-conviction-25-year-sentence-2024-04-11/

[zasad@]

Sam Bankman-Fried, facing the prospect of spending much of his adult life behind bars, on Thursday appealed his conviction and 25-year prison sentence for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded.
Defense lawyer Marc Mukasey had announced plans for the appeal to the Manhattan-based 2nd U.S. Circuit Court of Appeals during Bankman-Fried's March 28 sentencing hearing. The 32-year-old former billionaire crypto wunderkind was convicted in November on seven counts of fraud and conspiracy in what federal prosecutors have called one of the biggest financial frauds in U.S. history.
https://www.reuters.com/legal/bankman-fried-appeals-ftx-fraud-conviction-25-year-sentence-2024-04-11/

Sam Bankman-Fried broke a lot of laws that he may not get an even longer sentence as a result of the new trial.
The investigation was very long and in fact an appeal in a case like this can take a long time, and when it does, many people will have forgotten about Sam Bankman-Fried.
I don't understand who else got jail time, or were all the witnesses along with Caroline Eliesson?