Sam Bankman-Fried (SBF) debacle with FTX (1 Viewer)

[FreeBaGeL]

I have an acquaintance that had crypto staked with SBF. He's currently expecting to get 80% back, but he said his crypto would be up 400% if he still had it.

FTX actually was able to return a much larger percentage than the other fake banks that subverted regulations while the government was figuring out crypto. Celsius for instance only returned about 30%.

 

[John123]

Why are people in here acting like 25 years isn’t a long period of time? That’s a third the average male lifespan. That’s more than enough for nonviolent. We have been conditioned to accept insane prison sentences in this country.

Because 25 most likely means 12 right off the bat and with influence, money, good behavior and loopholes like addiction treatment available to shave time, 10 is most likely the actual number.

He wiped out people's life savings. He stole from people who are now left with a gaping hole in their financial futures. You don't see how some might find this a touch too lenient given the severity of his crimes and his attempt to cover it up? Or the fact that he cashed out and enriched his friends and family with other people's hard earned money?

I think he’s scum but if he serves 25 that’s fit. You are making assumptions on when he will get out. All we know now is he is sentenced to 25.

Buddy, these aren't assumptions. You know it, I know it. It's how the game is played. 25 doesn't mean 25. Not even close. That's based on decades of data. That's a problem for some, including myself.

Not a snowball's chance in hell he serves anywhere close to 25. I'd probably be ok if he served 25 years but as the esteemed Malaise states, no way that happens. Delude yourself if you like but he's out in 12 or less.

He probably won't, and that would be unfortunate, but you can’t sentence somebody to 50 years for a 25 year crime on the assumption they’ll get out in half the time.

1) Make him ineligible for early release. Happens all the time.

2) The Feds chose not to prosecute him for a bunch of other crimes he was guilty of. That may be appropriate if someone is charged with something like 20 murders, they convict on 5, and that person gets a life sentence. There's nothing to be gained by prosecuting on the rest. But this isn't that case. They should either have treated the crimes he was charged with as harsh as possible, or charged him with all the crimes he committed.

 

[culdeus]

He owes like 5 B Billion your early release does in some way depend on your ability and timelines for paying that back. If he's not able to he won't get out on the accelerated timeline.

 

[Capella]

Why are people in here acting like 25 years isn’t a long period of time? That’s a third the average male lifespan. That’s more than enough for nonviolent. We have been conditioned to accept insane prison sentences in this country.

Because 25 most likely means 12 right off the bat and with influence, money, good behavior and loopholes like addiction treatment available to shave time, 10 is most likely the actual number.

He wiped out people's life savings. He stole from people who are now left with a gaping hole in their financial futures. You don't see how some might find this a touch too lenient given the severity of his crimes and his attempt to cover it up? Or the fact that he cashed out and enriched his friends and family with other people's hard earned money?

I think he’s scum but if he serves 25 that’s fit. You are making assumptions on when he will get out. All we know now is he is sentenced to 25.

Buddy, these aren't assumptions. You know it, I know it. It's how the game is played. 25 doesn't mean 25. Not even close. That's based on decades of data. That's a problem for some, including myself.

Not a snowball's chance in hell he serves anywhere close to 25. I'd probably be ok if he served 25 years but as the esteemed Malaise states, no way that happens. Delude yourself if you like but he's out in 12 or less.

Lol you don’t have to be a prick with the delude yourself statement. I know exactly how the system works. It’ll suck if he serves less than 25 but that’s the way it goes.

lol @ being called a prick for using the word delude.

Saying somebody who is having a cordial conversation is deluding themselves is being a prick.

 

[General Malaise]

Why are people in here acting like 25 years isn’t a long period of time? That’s a third the average male lifespan. That’s more than enough for nonviolent. We have been conditioned to accept insane prison sentences in this country.

Because 25 most likely means 12 right off the bat and with influence, money, good behavior and loopholes like addiction treatment available to shave time, 10 is most likely the actual number.

He wiped out people's life savings. He stole from people who are now left with a gaping hole in their financial futures. You don't see how some might find this a touch too lenient given the severity of his crimes and his attempt to cover it up? Or the fact that he cashed out and enriched his friends and family with other people's hard earned money?

I think he’s scum but if he serves 25 that’s fit. You are making assumptions on when he will get out. All we know now is he is sentenced to 25.

Buddy, these aren't assumptions. You know it, I know it. It's how the game is played. 25 doesn't mean 25. Not even close. That's based on decades of data. That's a problem for some, including myself.

Not a snowball's chance in hell he serves anywhere close to 25. I'd probably be ok if he served 25 years but as the esteemed Malaise states, no way that happens. Delude yourself if you like but he's out in 12 or less.

Lol you don’t have to be a prick with the delude yourself statement. I know exactly how the system works. It’ll suck if he serves less than 25 but that’s the way it goes.

lol @ being called a prick for using the word delude.

Saying somebody who is having a cordial conversation is deluding themselves is being a prick.

You're both lovely people and GM's GBs so stop arguing and take it to a bank brohans

 

[thecatch]

Why are people in here acting like 25 years isn’t a long period of time? That’s a third the average male lifespan. That’s more than enough for nonviolent. We have been conditioned to accept insane prison sentences in this country.

Because 25 most likely means 12 right off the bat and with influence, money, good behavior and loopholes like addiction treatment available to shave time, 10 is most likely the actual number.

He wiped out people's life savings. He stole from people who are now left with a gaping hole in their financial futures. You don't see how some might find this a touch too lenient given the severity of his crimes and his attempt to cover it up? Or the fact that he cashed out and enriched his friends and family with other people's hard earned money?

I think he’s scum but if he serves 25 that’s fit. You are making assumptions on when he will get out. All we know now is he is sentenced to 25.

Buddy, these aren't assumptions. You know it, I know it. It's how the game is played. 25 doesn't mean 25. Not even close. That's based on decades of data. That's a problem for some, including myself.

Not a snowball's chance in hell he serves anywhere close to 25. I'd probably be ok if he served 25 years but as the esteemed Malaise states, no way that happens. Delude yourself if you like but he's out in 12 or less.

He probably won't, and that would be unfortunate, but you can’t sentence somebody to 50 years for a 25 year crime on the assumption they’ll get out in half the time.

1) Make him ineligible for early release. Happens all the time.

2) The Feds chose not to prosecute him for a bunch of other crimes he was guilty of. That may be appropriate if someone is charged with something like 20 murders, they convict on 5, and that person gets a life sentence. There's nothing to be gained by prosecuting on the rest. But this isn't that case. They should either have treated the crimes he was charged with as harsh as possible, or charged him with all the crimes he committed.

1) No, it doesn't and can't happen with a sentence of this length. The Bureau of Prisons is in charge of applying good time credits and that type of thing and the judge's ability to mess with BOP's discretion is extremely limited. The sentencing judge here couldn't have required him to serve 25 years no matter what.

2) The US Attorney might be able to charge him with a bunch more crimes related to the same conduct, but unless there is some statutory requirement that the sentences for those crimes be imposed consecutive to his other sentences, the judge doesn't have to impose additional jail time even if he's convicted. And if they all relate to the same conduct, the judge is probably going to think his initial sentence adequately addressed all the sentencing factors. So its very rational for the government to have walked away from the ability to charge him on a few additional counts of fraud or something, given that they'd have to spend a ton of resources trying that new case and they probably wouldn't get much out of it in terms of additional sentencing.