Sam Bankman Fried (scam banker fraud) 25 years

[btc78]

Even though the sentence isn’t as long as the victims would have wanted, 25 years is a long time and therefore would definitely leave a mark for the rest of his life. He was a billionaire and he’s got connections so I know for a fact that he wouldn’t be really suffering too much in prison but still the fact that he would be there jailed would be something that would make him feel a little of regret. Even after he comes out he would be followed everywhere by that 25 years.

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[hugeblack]

I've read the comments and I am a bit surprised: my views are a bit more lenient and tolerant. I believe that financial crimes should cause FINANCIAL consequences/punishment. FFS, take all his money, ban him from doing business for life etc but I think 25 years in jail is an overkill. Just my subjective opinion.

I tend to agree with this statement, but frankly, scamming people, stealing money from their hard work, and wasting it on personal interests without caring about them or even thinking about ever regretting it deserves more years of financial crimes.

In my country, if it is related to a criminal event, it is likely that she will receive a life sentence. However, if it is fraud, it will be between 25 and 50 years for each accusation, but in most cases it is 5 years for minor charges and 40 years for public opinion cases. 25 years is a very lenient version, especially since the sentence It was 108 but that's what it is.

I am surprised how the ruling was made so quickly. Judicial rulings take an average of 5 years.

[GreatArkansas]

Does that mean those who lost a lot of money in the FTX Exchange will able to get their money back?

I saw a lot of people complaining about 25 years sentenced, some said it's not enough for Sam Bankman, it should be a lifetime, well that's their opinion.

Some still hoping they will get their money back.

[SquirrelJulietGarden]

Does that mean those who lost a lot of money in the FTX Exchange will able to get their money back?

They will receive money but at rates of cryptocurrencies in a bear market, 2 years ago. That is painful loss for FTX and SBF victims.

I saw a lot of people complaining about 25 years sentenced, some said it's not enough for Sam Bankman, it should be a lifetime, well that's their opinion.

25 years sentence is too soft as months ago, speculation is about 100 years sentence for SBF. Will SBF receive reduction of his 25-years sentence after some years in jail?

If he gets reduced sentence and be free from jail after like 5 years, it's unfair for people lost money because of his scam.

Some still hoping they will get their money back.

People got forced liquidations lost their money forever.
People did not use leverages, did not touch Futures trading but were panic sold in a bear market and FTX fiasco, lost their capital forever.

I am surprised how the ruling was made so quickly. Judicial rulings take an average of 5 years.

Not surprised if this lenient sentence comes from lobbying efforts behind the scene by politicians.

[thecodebear]

I think that's about right. I was thinking 20-25 years. The 5-6 years the defense was asking for was completely absurd, but so was the like 50 years the prosecution wanted. 25 years I think is just right. He played fast and loose with financial laws, screwing over people's money, and ruined his life and won't get out of jail until his late 50s now (assuming no changes to his sentence or early parole) so he can still get out in time to have some sort of life much later in life, but at the consequence of completely screwing over his life with a quarter century in prison.

[Churchillvv]

Perhaps it's a nice idea to sentence him to 25 years in prison as he didn't think he was going to have such a long year in there but to his greatest surprise the judge wasn't fair to him but did what was right. If he had gotten the length of sentence that a lot of people where suggesting I guess by now I he would have better been dead because most people with pain and anger proposed that he should be sentenced to 90 years, some wanted 60 years etc. and perhaps if had gotten this length it would have equally amounted to life imprisonment because his 32 already and that to 90years or 60 years is not a joke if only he would be alive to witness it.

In conclusion, the crime that got him into 25 years in jail is always commited regularly by different people in different areas of business but this will serve as a great warning to all exchanges CEOs or exchange it's self to stay away from such crime. Hence, some exchange will begin to up there games and be more careful this time.

[krishnaverma]

so the sentencing is in.. and it seems he is getting 25 years. good(shoulda got longer)
obviously he will try and appeal it. but atleast he isnt going to get to play CEO again any time soon (he was hoping to be allowed to be free to get back to business to 'make everyone whole' unpunished)

this might make a few other scammers realise trading in crypto does not alleviate them of the law, a scam is still a scam no matter what the asset/value/currency is

He got the punishment which he deserved.

Now I hope that other scammers related to bitcoin community take this as a lesson and leave all the scams. Because the people affected by these scams are always general public who loose their hard earned money. Also, we as crypto users, should always report all frauds we come across during our involvement with some crypto project.

[adaseb]

I remember back in Nov 2022 when he was seen walking around his Bahamas city pretending like nothing happened. Everybody was tweeting him “why aren’t you in jail yet?” And he basically thought that just by saying “sorry” in a twitter post was all it was going to take to keep him out of jail. He sure was wrong.

It also took a long time for them to finally arrest him. Took weeks if I remember correctly, he was doing interviews and everything during that time. People were furious. But the day finally came. Wonder what will happen to the other FTX managers who knew what was going on.

[Barikui1]

It's actually a welcome development, even though I wanted it to be more sevier like life in prison, because that actions will strike some fear into the minds of others, to think twice before defrauding people in the crypto ecosystem.

Another thing that to me should have been added to his punishment, which to me would have been really fair is, they would have seize all his money and asset,  then sell it off, and use that money in compensating most of the victim affected, it's just those that have committed suicide that I feel for the most, but to me, this 25year sentence is less punishment compared to the life's he has ruin.

[rodskee]

I just hope that other people like him would learn from him, but it seems like scammers don't care about what has happened to the previous scammers, but they will still continue as long as they have not been caught. I am happy that Justice has been done to SBF.

i think all scammers believe that they are untouchable. The adrenaline of getting
your profit from multitude of scams would have your heart racing and excited and happy.
all scammers think superiorly of themselves and if they see other scammers being jailed,
they probably will just think that they are better than them. no other way to humble
scammers than having them caught.

[Silberman]

I just hope that other people like him would learn from him, but it seems like scammers don't care about what has happened to the previous scammers, but they will still continue as long as they have not been caught. I am happy that Justice has been done to SBF.

i think all scammers believe that they are untouchable. The adrenaline of getting your profit from multitude of scams would have your heart racing and excited and happy. all scammers think superiorly of themselves and if they see other scammers being jailed, they probably will just think that they are better than them. no other way to humble scammers than having them caught.

You have a point, but SBF scammed their investors too much money, that is why he is receiving this sentence, but a scammer that scammed way less than that most likely can get away with it unless they really make a dumb mistake that expose completely who they are, however even if the sentence given was long I have no hopes at all that he will spend so much time in jail, I am sure his lawyers and his family will find a way to get him out of jail in 5 to 10 years, which considering all the money he stole and the consequences his victims suffered, it does not seems as if it is enough.

[Davidvictorson]

so the sentencing is in.. and it seems he is getting 25 years. good(shoulda got longer)

Yea, it shoulda be longer. Bernie Maddoff got more time. He should have received the 50 years max with no parole.

[shield132]

so the sentencing is in.. and it seems he is getting 25 years. good(shoulda got longer)
obviously he will try and appeal it. but atleast he isnt going to get to play CEO again any time soon (he was hoping to be allowed to be free to get back to business to 'make everyone whole' unpunished)

this might make a few other scammers realise trading in crypto does not alleviate them of the law, a scam is still a scam no matter what the asset/value/currency is

It's funny that he looks like the Prime Minister of my country - Irakli Kobakhidze

He is lucky that he got 25 years sentence after everything that he did with people's money. He is lucky that he will spend 25 years in the USA and not in Russia. If he was in Russia, he would suddenly fall out of the window or would get an unknown disease or would feel unwell and pass...
But another problem is that people don't learn from their mistakes and Cointelegraph published an article right now about how memecoin based on Sam Bankman-Fried pumps and dumps as he gets a 25-year prison sentence. One scam is not enough for people, they are looking for another, that's strange.

[benalexis12]

Well, in that case, I think that enough justice has been given to those who got large funds that year. Maybe even if Sam Bankman appeals, his appeal will not be able to do anything. It means that the amount of money he had didn't do anything either.

Justice really existed for the people who were victimized by SBF. I am happy for the people who were cheated and victimized by what Sam Bankman did. 25 years is quite a long time, and many things can change in that regard. Let's see and wait on that matter.

[pinggoki]

We need more convictions of crypto scammers because the crypto space still has a lot of crypto scammers running rampant all over the market, they're not scared that SBF is getting sentenced to 25 years, they know that they can never be caught but to be honest, there's just not a lot of people that want to try their hands on capturing these scammers. I believe that more examples is going to be the biggest thing that anyone can do to make a statement that crypto scammers aren't immune to prosecution, I just that SBF isn't the last person that's going to be indicted of these kind of crimes. It's a big news for us that want to see this criminal pay for what he's done. Looking forward to the Luna founder too being extradited in US and getting sentenced in the US.

[Alone055]

I watched somewhere on the news where the parent made a statement, “We are heartbroken and will continue to fight for our son.” Is it that they don't know that their son is guilty or what, or are they using the love they have for their child to blind themselves to what's right?

Parents can't accept what's bad in their children even if it's proven. They might know he did something wrong, but they can't stand and watch him spend 25 years in prison without doing anything, after all, he is their child and parents love their children more than anything in the world. 

That being said, SBF getting the treatment he deserves will surely be an example in this industry for all industry leaders to not do things that SBF did, otherwise, you can end up spending the rest of your life in prison and the money you may earn through fraud and scams won't be of any use.

[Iranus]

I watched somewhere on the news where the parent made a statement, “We are heartbroken and will continue to fight for our son.” Is it that they don't know that their son is guilty or what, or are they using the love they have for their child to blind themselves to what's right?

Parents can't accept what's bad in their children even if it's proven. They might know he did something wrong, but they can't stand and watch him spend 25 years in prison without doing anything, after all, he is their child and parents love their children more than anything in the world. 

That being said, SBF getting the treatment he deserves will surely be an example in this industry for all industry leaders to not do things that SBF did, otherwise, you can end up spending the rest of your life in prison and the money you may earn through fraud and scams won't be of any use.

That's right, no matter how wrong their children are, parents will never abandon them. I feel happy that SBF was sentenced to 25 years in prison because his actions have caused so many people to suffer, and even suicide.

In addition, instead of just blaming SBF or any scammers, we should also look at ourselves, because if we are not greedy, we will not participate in projects that promise high interest rates, then no one will be able to cheat and take our money. Don't be too greedy and selfish when we want high profits while still being safe and protected by the law.

[LogitechMouse]

I watched somewhere on the news where the parent made a statement, “We are heartbroken and will continue to fight for our son.” Is it that they don't know that their son is guilty or what, or are they using the love they have for their child to blind themselves to what's right?

Welcome to America. Where people will act like they did not do anything. Where people will act like their son/daughter/relative didn't do anything against other people.
Kidding aside, both of his parents are experts, and correct me but one of them or both of them are lawyers but nevertheless, they can say that they will continue to fight for their son, but it has been served already.

Justice has been served? For 25 years, I think that it wasn't enough, but it's the judge's decision so.. I guess those who lost their money in the FTX fiasco must accept it. The question is when they will start to pay the $11 Billion dollar forfeiture that will be paid to those investors. Now that a crypto project owner has been sentenced to jail because of his fraudulent activities, I hope that this will create a domino effect towards other projects and will think twice if they will try and do what FTX also did or not. I mean we've seen Celsius, Gemini, Bitconnect way back 2018 and now FTX. I hope that there will be less and less scenarios like this that will happen in the future.

25 years for me isn't enough, but as long as the investors who lost their money will be repaid then it's all good.

[kentrolla]

This is indeed a great news and atleast restores some sort of faith in justice and I sure most of you will agree that he was assuming that he could escape the jail sentence and I just wish all his appeals get denied and this was really necessary to punish him because this should be an alarm for all other scammers in crypto domain or those who intend to do because they think government and justice system will not be involved.

[lovesmayfamilis]

I am sure that such terms are received by people with much smaller amounts of fraud. That's who will be dissatisfied with the verdict, comparing their misdeeds with the billions stolen by Sam. Nevertheless, 25 years—this is a quarter of a human life—let him be gnawed by the understanding that nothing can replace the freedom that he lost for 25 years.