Am I the only one who feels like they basically got a patsy and whoever was actually running the con while he was playing LoL during meetings got away scot-free?
Sam Bankman-Fried sentenced to 25 years in prison
191–200 of 1001 posts
Re: Sam Bankman-Fried sentenced to 25 years in prison
#192I don’t think there is any crime whatsoever that imprisoning someone for more than ten years would be reasonable or productive.
If jailing someone for a decade doesn’t do it, nothing will.
It seems purely vindictive at some point. The justice system should not be vindictive.
Re: Sam Bankman-Fried sentenced to 25 years in prison
#193Now we all get to play judge! 25 going once twice sold.
Re: Sam Bankman-Fried sentenced to 25 years in prison
#194Seems low for what prosecutors consider "one of the biggest financial frauds in U.S. history." https://www.reuters.com/technology/sam-bankman-fried-be-sent...
25 years is a damn long time. I don’t know how that can “seem low”.
I think it seems low because of the magnitude of the crime. Also because we punish more violent crimes with very harsh sentences including charging non-violent perpetrators with violent crimes(Felony Murder).
Add in the desire to be seen as doing something with sentencing inflation and your get multiple hundred year sentences.
At first I felt that 25 years was short but thinking about it, he will be ~60 when he gets out... so maybe not too short.
Re: Sam Bankman-Fried sentenced to 25 years in prison
#195SBF is 32 years old - 25 years isn't a death sentence for him
Parole is available after 1/3 of term, realistically he won't serve 100%
There's still a chance for him to get something out of his life post jail
Re: Sam Bankman-Fried sentenced to 25 years in prison
#196Why does the title on Hacker News have "SBF" while the article title has his full name?
Maybe the submitter was typing it out?
We've fixed it now.
Re: Sam Bankman-Fried sentenced to 25 years in prison
#197[deleted]
Re: Sam Bankman-Fried sentenced to 25 years in prison
#198[flagged]
A friend of mine got roughly half this sentence (12 years) for possession of cocaine with intent to sell. To be fair, was a large amount of cocaine and she 100% intended to sell it. However, she lost 10 years of her life (after good behavior) for being in possession of a < $1m worth of a regulated substance. Not sure how that fits on the spectrum against stealing $8b, but it all seems pretty disproportionate to me.
Re: Sam Bankman-Fried sentenced to 25 years in prison
#199Seems low for what prosecutors consider "one of the biggest financial frauds in U.S. history." https://www.reuters.com/technology/sam-bankman-fried-be-sent...
I think intent matters. I don't like what he did but I am convinced he didn't think he was doing something deceitful. Whereas Madoff had a guilty conscience and precisely crafted something intended to deceive.
Re: Sam Bankman-Fried sentenced to 25 years in prison
#200It's wild that 99% of the "point" of crypto and a Bahamas-based exchange was to avoid all the laws around securities trading, banking, money transferring (anti-money laundering, taxes, etc), etc and yet when things go south, people still expect the government to come in and enforce a tiny subset of the financial laws they've otherwise been operating outside of. This is a weird form of "privatize the profits, socializ…
Yeah, I agree. This should fall under “caveat emptor”. Everyone using unregulated exchanges (which IMO should be an option for everyone) should recognize that they are subject to additional risks (and benefits).
The government shouldn’t outlaw free climbing either.
It’s your own fault if you treat a bunch of foolish kids with millions of dollars the same way you would an onshore FDIC-insured regulated bank.
Canada Bill Jones would like a word.