Live data from Hacker News

The United States of America vs. Samuel Bankman-Fried Indictment [pdf]

justice.gov

721–730 of 748 posts

Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]

#721
post #572

Earlier quoted context omitted.

How are you supposed to get enough insight from any working fund manager to determine whether something is a ponzi? It’s not like they give you access to the books.

Mutual fund and ETF holdings are public information. Random fund manager? Good luck.

Pretty sure even private hedge funds have to disclose to their clients exactly what they hold, not Madoff's "just trust me bro" promise.

Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]

#722
post #692

Earlier quoted context omitted.

> This part's pretty incorrigible Sorry I don't understand. Can you elaborate?

He kept reaching out to the Chapter 11 exec with a fantastic (as in fantasy) notion that he knew a potential investor willing to sink billions of dollars into paying back users, then wondered why he wasn't getting a response. The exec had already told him, "There's nothing to save Sam". Can't imagine any sane investor throwing away $8B+ of their own money to dig FTX out of their hole.

Lol. Not returning the call of the guy who built a multi-billion dollar business from scratch even after he says he has an investor willing to invest billions is shady as fuck.

As a FTX.us user with funds held by them, I'm deeply suspicious of John Ray https://en.wikipedia.org/wiki/John_J._Ray_III.

Can I demand he speak to SBF?

He's a corrupt coward if he won't even speak to him.

Somebody is a crook here, and I'm thinking it's John Ray.

- Breck Yunits (I'm no anon coward, unlike the others talking a lot of trash)

Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]

#723
post #629

Earlier quoted context omitted.

This reads like a stress response to me. I don’t think realizing your child is probably going to live behind bars for the rest of your life and your family will never recover is something you “man up” through.

I agree. People act weird under extreme stress. Once when I arrived at work my boss was grinning. I asked him what was going on and he told me my co-worker tried to kill my supervisor. I laughed. Other co-workers were laughing and grinning too.

What happened with the co-worker? (Prison?)

Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]

#724

Earlier quoted context omitted.

He stole billions of possible retirement money. Of course he should go to prison for life.

How will wasting his life behind bars help bring restitution?

Making him grind out restitution at $1/hr on hard labor would do it.

Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]

#726
post #722

Earlier quoted context omitted.

He kept reaching out to the Chapter 11 exec with a fantastic (as in fantasy) notion that he knew a potential investor willing to sink billions of dollars into paying back users, then wondered why he wasn't getting a response. The exec had already told him, "There's nothing to save Sam". Can't imagine any sane investor throwing away $8B+ of their own money to dig FTX out of their hole.

Lol. Not returning the call of the guy who built a multi-billion dollar business from scratch even after he says he has an investor willing to invest billions is shady as fuck. As a FTX.us user with funds held by them, I'm deeply suspicious of John Ray https://en.wikipedia.org/wiki/John_J._Ray_III . Can I demand he speak to SBF? He's a corrupt coward if he won't even speak to him. Somebody is a crook here, and I'm th…

Go to bed, Sam's friend

Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]

#727
post #529

Earlier quoted context omitted.

He should not go to prison for life. Nobody should ever go to prison for life, for wasting money. Money is literally made up. Sure, opportunity cost is real, but seriously nobody should ever lose their life for money.

Think about it this way. Money is people's time. SBF stole billions of hours of people's personal time. Effort, savings, sweat, tears all bundled in what we call money. Why shouldn't he repay them with his own time in jail?

That doesn't really repay them anything.

Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]

#728

Earlier quoted context omitted.

My hope is that some programmer dictator will instate a form of the discordian calender: - All 5 seasons are the same length - The days of the year always fall on the same week day, as the week is 5 days long - the year always starts with the first day of the week. - the leap day is not assigned a day Things I would change though: - start the year at winter solstice. - put the leap day at the end of the year. https:/…

Finally, we can get rid of Wednesday... Wendsday? Woesnday?.... that day in the middle of the week that no one can spell =P

February needs to be reconsidered as well imo.

Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]

#729

Earlier quoted context omitted.

Didn't he and his close associates donate to the Republican party members as well?

SBF said so but there is no public evidence of it, so far as I can tell. The federal government brought a charge against SBF due to his campaign contributions, so it can perhaps be expected that we will learn more about those contributions as this saga plays out.

Here is where semantics get tricky and people are twisting facts. Fox who reported on this positioned it as SBF donated 40 million to democrats and barely anything to republicans. Fox has in several articles used Open Secrets and the number the report match open secrets. But they left out a big part of the story. Most of the 40 million didn't go to "Democrats," they went to democrat aligned super pacs. Open secrets also shows that FTX/SBF put 20-25 million into republican aligned super pacts. I believe one of board members of FTX, Ryan Salame, also donated about 15 million or 20 million to "Republican causes?" For me, I will just say we should probably lump all of these donations under a single entity.

The reality is. These guys were funneling tons of money into anyone who would take it. What is hard to extrapolate is, were democrats easier to buy on mass and that is why there is a higher amount? Or were republican votes cheaper?

[1] https://www.opensecrets.org/orgs/ftx-us/summary?id=D00007369... [2] https://www.politico.com/news/magazine/2022/12/09/crypto-sca...

Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]

#730
post #722

Earlier quoted context omitted.

Lol. Not returning the call of the guy who built a multi-billion dollar business from scratch even after he says he has an investor willing to invest billions is shady as fuck. As a FTX.us user with funds held by them, I'm deeply suspicious of John Ray https://en.wikipedia.org/wiki/John_J._Ray_III . Can I demand he speak to SBF? He's a corrupt coward if he won't even speak to him. Somebody is a crook here, and I'm th…

Go to bed, Sam's friend

Lol. Never met him. Don't know him. (AFAIK, maybe years ago we crossed paths in the valley, don't remember if we did)

Nice anon account! I hope you are being paid for your shilling.

Post reply on HN