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Sam Bankman-Fried Convicted

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Re: Sam Bankman-Fried Convicted

#211
post #166
post #44

Earlier quoted context omitted.

Give him a chance to wrap things up. He’s not going anywhere in the interim.

Why is this guy even in the country? He could have chartered a boat to Venezuela and taken a few hundred million with him. Of course, all the people he defrauded might follow him.

Remember he tried that when he was in the Bahamas. But he ran out of money and the Bahamians turned him over.

Re: Sam Bankman-Fried Convicted

#212
post #188

In under five hours! The jury was home in time for dinner. One question for legal people—why is there such a long gap between conviction and sentencing? In this case, the sentence won't be set until March of next year.

I was on a jury recently. Deliberations began after closing statements Friday morning. First thing we all agreed we would not be coming back on Monday…

I was on a jury. We pushed it a little longer to get it to that last free lunch and make it long enough not to go back in the jury pool.

Re: Sam Bankman-Fried Convicted

#213
post #188

In under five hours! The jury was home in time for dinner. One question for legal people—why is there such a long gap between conviction and sentencing? In this case, the sentence won't be set until March of next year.

I was on a jury recently. Deliberations began after closing statements Friday morning. First thing we all agreed we would not be coming back on Monday…

> First thing we all agreed we would not be coming back on Monday…

Kind of scary that this is the rigor our justice system hinges on.

Re: Sam Bankman-Fried Convicted

#214

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 "…

I had an experience a lot like this when serving on the jury for an assault case. Assistant DA was incompetent, we all agreed save one person, who declared ‘we’re not going to be one of those juries that deliberates for just five minutes’ and that ‘I wouldn’t want to run into either of them in a dark alley’ and, after I told everyone to quiet down because he was going to convince us the man was guilty beyond a shadow of a doubt, ‘there’s no sense of justice.’

Re: Sam Bankman-Fried Convicted

#215
post #120

Interestingly, FTX made a $500 million USD investment in Anthropic; supposedly, this was made while Anthropic was valued at $4.6 billion (unconfirmed). Now, Anthropic is nearing $30 billion. Anyone know the latest on this? Is FTX going to sell that stake off to pay back the debts? [1] https://www.businessinsider.com/sam-bankman-frieds-anthropic...

Looking online I see reports that FTX owes its creditors $3B. If Anthropic has 6.5x then the initial $500 million is now worth $3.25B. Is it actually possible that all creditors will get their money back? Pretty crazy if so.

If I'm a creditor in FTX, it's a pretty big gamble, and I'm definitely not sure I'd be willing to settle for "sure, give me some shares in some AI company...". A significant chance that value craters, after all.

Re: Sam Bankman-Fried Convicted

#216

Like many of his strategies at FTX, his high risk approach to this trial for a high value payout (taking no plea deal and getting out with no charges) hasn’t worked out. I wonder if he himself is accepting of the outcome and isn’t already scheming or relying on another all-in gamble.

He got his first taste finding an arbitrage between Japanese and US bitcoin prices, that made him 30 million in a month.

Allegedly, a lot of the squandered FTX funds went to Alameda, his other company where he made similar bets, except they didn’t work out.

Re: Sam Bankman-Fried Convicted

#217

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 "…

IDK seems like due diligence to me to prevent the hungry judge effect (or to forestall claims towards it being the cause for the sentence): https://en.wikipedia.org/wiki/Hungry_judge_effect

Re: Sam Bankman-Fried Convicted

#218
post #188

In under five hours! The jury was home in time for dinner. One question for legal people—why is there such a long gap between conviction and sentencing? In this case, the sentence won't be set until March of next year.

I was on a jury recently. Deliberations began after closing statements Friday morning. First thing we all agreed we would not be coming back on Monday…

[deleted]

Re: Sam Bankman-Fried Convicted

#220
post #89

Like many of his strategies at FTX, his high risk approach to this trial for a high value payout (taking no plea deal and getting out with no charges) hasn’t worked out. I wonder if he himself is accepting of the outcome and isn’t already scheming or relying on another all-in gamble.

I don’t think he was ever offered a plea deal

I feel in the federal system, they'll offer pleas to everyone under you to get to you. But once they've got to you, you're the target, and there's little motivation to let you plead out.

Perhaps the only one (potentially, and not trying to derail this) might be Donald Trump (but I also have a hard time seeing him accepting a plea deal on the current raft of bullshit around him).

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