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Sam Bankman-Fried Convicted

nytimes.com

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Re: Sam Bankman-Fried Convicted

#151

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.

How did the other FTX kids get away with it so easy? It feels like prosecutors gave them deals too generous just to get SBF convicted more easily.

They pleaded guilty to federal felonies. I wouldn't call it getting away with it so easy, even if after sentencing they don't face much serious prison time. The whole point of the trial, corroborated by the "kid" witnesses, was that SBF was calling the shots and thus 1) his crimes were far more serious and 2) the mountain of evidence made the prosecution's case so strong as to make the idea of a "sweetheart" deal for him moot.

Re: Sam Bankman-Fried Convicted

#152

No, they had pizza: https://twitter.com/tolstoybb/status/1720228218672988667?t=t...

I'm assuming it went like this: "So this guy is guilty right?" (10x other Jurors) "Agreed". (That one "For Fairness" Juror) "I dunno, we're sending this guy to jail for an awfully long time. I think we need to think it over a bit longer." "Fine, Lets get pizza". * 4 hours later * "Okay, we thought about it some more. He's guilty right?" (11x other Jurors) Guilty. ----------- At least, I'm amused by the thought of a "…

"He is guilty and this pizza sucks. Not going to hang around for another. Let's get this done."

On a serious note - not sure how much you get compensated on Juries but in Australia it is not that much if you work as a software dev, so staying on a Jury for 8 weeks could mean even not being able to pay your mortgage for some (yes you should have savings but...). I am sure there is a financial incentive to finish these things quickly?

Re: Sam Bankman-Fried Convicted

#153

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.

[deleted]

Re: Sam Bankman-Fried Convicted

#158
post #71

[flagged]

The big mistake is he was small enough to fail. He wasn't protected by institutions that have captured the government.

If you are going to gamble with other people's money, you need to do it like the banks did in 2008.

A direct "Ponzi" or embezzlement from your customers is too easy to connect the dots.

Re: Sam Bankman-Fried Convicted

#159
Impressively fast response. Would Travis Kalanick be found guilty for Greyballing and more had Uber had a "run on the bank"? Would Adam Neumann be found guilty for fraud if WeWork's current Chapter 11 was more than just a real estate lease re-negotiation? If the FTX recovery rate gets up to 80-90%, SBF's net fraud might be reduced in scale. In which case, why aren't others like TK going to jail?

Re: Sam Bankman-Fried Convicted

#160
post #68

https://time.com/6330323/sbf-trial-biggest-bombshells/ - interesting in this article showing what Alameda spent their stolen money on is that they made a $500million bet/investment on Anthropic, who Google just committed to investing $2billion into. Could have turned out great!

Could have? FTX still owns that investment into Anthropic and the bankruptcy proceedings are sorting it out.
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