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Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF

nytimes.com

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Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF

#81

Post by jcampbell1 »

elliekelly wrote: post #70
jcampbell1 wrote: post #49

Earlier quoted context omitted.

Exactly. People were throwing out potential immunity, or other complete nonsense for cooperation. There weren’t even discussions about recommended prison time as that can blow the prosecutions case against SBF. The idea that there is some agreement for say 5 years recommended is not on the table in this type of situation.

> The idea that there is some agreement for say 5 years recommended is not on the table in this type of situation. That is absolutely the situation. That’s why you take the deal. They got her to plead to seven counts! There’s almost certainly an agreed-upon recommended sentencing.

Please just read the plea deal.

https://www.documentcloud.org/documents/23495436-crypto-coop...

Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF

#82

Post by dmix »

neilv wrote: post #22

> Both were involved in effective altruism — a community focused on using data to maximize the long-term impact of charitable donations. > She got into crypto, she explained on another episode, because she was hoping to make lots of money to give away as part of her commitment to effective altruism. Should the term be capitalized, as Effective Altruism ? It seems to be a new, branded definition, and not in common usa…

Curiously this was flagged @dang? I personally can't tell why.

Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF

#83

Post by [deleted] »

maxbond wrote: post #45
HN_is_for_gemes wrote: post #36

Earlier quoted context omitted.

Exactly, crypto was only peripherally related to the legacy financial fraud. But everyone, including this site, wants you to think this was a, "crypto bro's" scam, SBF was NOT a crypto bro, he was a rich kid.

What disqualifies him as being cryptobro?

[deleted]

Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF

#84

Post by saalweachter »

ceejayoz wrote: post #65
monero-xmr wrote: post #62

Earlier quoted context omitted.

Ryan Salame took out $60 million in “loans” from FTX, donated tens of millions to republicans, and bought up a bunch of restaurants in the Berkshires. How are all these guys not being arrested?

> How are all these guys not being arrested? This article is about precisely the process in which that happens. They now have cooperating witnesses with significant internal visbility into what went on, and more importantly, people who can speak to the intention behind what went on.

"These people will never see a day in prison."

"Well, what about this other guy over there?"

Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF

#85

Post by jcampbell1 »

chollida1 wrote: post #78
jcampbell1 wrote: post #30

In previous discussions, I said there was a 0% chance she got some sort of deal. I was downvoted to hell, but this guilty plea shows how it works in real life, not TV. The deal is you cooperate voluntarily and the court is allowed to provide sentencing leniency. The only thing she gets is the prosecution agrees to tell the court she cooperated.

> In previous discussions, I said there was a 0% chance she got some sort of deal. Well that prediction didn't age well. Looks like she got herself a deal.

She got one thing… they won’t pursue tax fraud charges. Wow. Everything else she gets is from the courts.

Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF

#88

Post by ceejayoz »

agotterer wrote: post #73
mikeyouse wrote: post #24

Earlier quoted context omitted.

The number does indeed get larger with bigger losses - but most of the charges also have statutory maximums (e.g. 20yrs for wire fraud) and they'll almost certainly be served concurrently. With this level of fraud a sentence approaching 10 years might be in play, but we'll have to see what the prosecutors say.

Elizabeth Holmes was sentenced to 11 years and she didn’t steal any money for personal gain. Madoff was sentenced to 150 years. Based on what we know so far about Caroline’s misuse (abuse) of funds and possible mass market manipulation all of which has resulted in billions of dollars in investor losses. 10 years in this case seems light, no?

Holmes didn’t plead guilty and cooperate.

Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF

#89

Post by SV_BubbleTime »

MacsHeadroom wrote: post #53
maxbond wrote: post #45

Earlier quoted context omitted.

What disqualifies him as being cryptobro?

Many things. But for one, he lobbied for a future where individuals would no longer legally be able to use blockchains directly or build businesses on them (aside from pure direct person-to-person payments). Doesn't get much less "cryptobro" than lobbying against people being able to use blockchains.

I think he said a lot of things; and did the complete opposite. Why would any one statement carry any weight at all?
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