Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Sam Bankman-Fried Convicted

nytimes.com

Post reply on HN
Print view View original

91–100 of 1001 posts

Re: Sam Bankman-Fried Convicted

#91

Post by bsjaux628 »

dmvdoug wrote: post #61
AustinDev wrote: post #9

Well... this is justice. Sadly, we don't get to see justice very often. This is life in prison, correct? I know he hasn't been sentenced but all counts is easily several life sentences at the federal level. When do the parents go on trial? I can't see how they make it out of this without at least having all their ill-begotten assets stripped.

That’s not how sentencing works. You can’t just add up the counts and get a number. Federal sentencing involves a Byzantine process, starting with the federal sentencing guidelines. I am not even going to attempt to wade into that since it makes even federal criminal lawyers get twitchy. That said, Ken White (a.k.a. Popehat) has suggested the time in prison would be substantial . So if/when he gets out, he’ll be elde…

Explanation https://youtu.be/kr8gSdJ_Ggw?t=4m32s

Quite complex certainly

Re: Sam Bankman-Fried Convicted

#92

Post by CSMastermind »

xezzed wrote: post #36

So what's his term in jail?

We don't know yet, sentencing is separate from the trial that determines innocence or guilt.

Now there will be another hearing in March during which the judge will consider all of the evidence (even that which wasn't allowed in the original trial) to determine what his punishment should be.

The judge will have to abide by the federal sentencing guidelines which specify the punishments and severity they can apply but otherwise it's a matter of their discretion.

Re: Sam Bankman-Fried Convicted

#93

Post by bsjaux628 »

bagels wrote: post #48
munchinator wrote: post #32

I'm not too familiar with the American system, could someone please explain how after the verdict does the sentencing work? The judge is the one who will now decide the sentence? And how long does that decision take, so when will we know what the consequences of the guilty verdict actually are? (For example, how many years in prison, or not).

Typically decided by the judge. There is a table of different degrees of crimes that have sentencing guidelines for minimum/maximum sentence. The judge will choose where on that spectrum the sentence lies. edit: From Ars Technica The five charges related to wire fraud and money laundering carry maximum sentences of 20 years each, while the two securities and commodities fraud charges have maximum sentences of five ye…

https://youtu.be/kr8gSdJ_Ggw?t=4m32s

Re: Sam Bankman-Fried Convicted

#95

Post by evantbyrne »

dylan604 wrote: post #40
AustinDev wrote: post #9

Well... this is justice. Sadly, we don't get to see justice very often. This is life in prison, correct? I know he hasn't been sentenced but all counts is easily several life sentences at the federal level. When do the parents go on trial? I can't see how they make it out of this without at least having all their ill-begotten assets stripped.

Have all of the people scammed been brought whole? That would be justice. Someone sitting in jail isn't justice. It is punishment for his actions. I've never understood how someone being incarcerated has become considered justice.

> Have all of the people scammed been brought whole?

I know zero details on where exactly the money ended up, but I have to imagine someone dumb enough to try and pull this off would have also effectively shredded a huge chunk of the stolen funds.

Re: Sam Bankman-Fried Convicted

#96

Post by deaddodo »

dylan604 wrote: post #40
AustinDev wrote: post #9

Well... this is justice. Sadly, we don't get to see justice very often. This is life in prison, correct? I know he hasn't been sentenced but all counts is easily several life sentences at the federal level. When do the parents go on trial? I can't see how they make it out of this without at least having all their ill-begotten assets stripped.

Have all of the people scammed been brought whole? That would be justice. Someone sitting in jail isn't justice. It is punishment for his actions. I've never understood how someone being incarcerated has become considered justice.

> I've never understood how someone being incarcerated has become considered justice.

Because, at least for Americans, there is a retributive mindset. "You did wrong, now I want you to hurt"; ergo, when it happens, they consider it justice.

As opposed to repairing the victim's situation and/or attempting to reform the actor/criminal into a more trustworthy/desirable member of society.

Re: Sam Bankman-Fried Convicted

#98

Post by carabiner »

dmvdoug wrote: post #61
AustinDev wrote: post #9

Well... this is justice. Sadly, we don't get to see justice very often. This is life in prison, correct? I know he hasn't been sentenced but all counts is easily several life sentences at the federal level. When do the parents go on trial? I can't see how they make it out of this without at least having all their ill-begotten assets stripped.

That’s not how sentencing works. You can’t just add up the counts and get a number. Federal sentencing involves a Byzantine process, starting with the federal sentencing guidelines. I am not even going to attempt to wade into that since it makes even federal criminal lawyers get twitchy. That said, Ken White (a.k.a. Popehat) has suggested the time in prison would be substantial . So if/when he gets out, he’ll be elde…

The crypto Bankman will not be Fried for a long time.

Re: Sam Bankman-Fried Convicted

#99

Post by LastTrain »

dylan604 wrote: post #40
AustinDev wrote: post #9

Well... this is justice. Sadly, we don't get to see justice very often. This is life in prison, correct? I know he hasn't been sentenced but all counts is easily several life sentences at the federal level. When do the parents go on trial? I can't see how they make it out of this without at least having all their ill-begotten assets stripped.

Have all of the people scammed been brought whole? That would be justice. Someone sitting in jail isn't justice. It is punishment for his actions. I've never understood how someone being incarcerated has become considered justice.

Yeah if they’d just let him go he’d go right out and make everyone whole again. He’s going to jail to hopefully keep other people from doing similar things. I’d like to see more jail for white collar crime - otherwise it’s just gambling.
Post reply on HN