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Sam Bankman-Fried sentenced to 25 years in prison

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Re: Sam Bankman-Fried sentenced to 25 years in prison

#701

Post by pwillia7 »

tombert wrote: post #344
bambax wrote: post #62

I think that's about fair and reasonable. It's been said in Europe he would not have gotten more than years and it's probably true. 25 years is a really long time and even if he does only 20, still super long. Here's a live tweeting of the sentencing hearing; some of Judge Kaplan's remarks are really interesting. https://twitter.com/innercitypress/status/177334004374401064...

If I broke into a person's house and stole $1000, even if I didn't directly hurt that person, I could expect to get several years in prison, basically regardless of the state. Lets say three years to be conservative on this? Sam Bankman Fried stole billions of dollars [1], probably often around $1000 at a time from tens of thousands of people. If going with my logic, he should be getting a lot longer than 25 years, u…

They don't stack like that, there is a curve with points and considerations like if it's your first time offending and the malice involved. Those points correlate to years. Judges don't have to follow the points, but they almost always do and if they don't, may have to explain it or have their case messed with in appeals

Re: Sam Bankman-Fried sentenced to 25 years in prison

#702

Post by AlexanderTheGr8 »

legendofbrando wrote: post #697
AlexanderTheGr8 wrote: post #685

Reposting one of my comments that wasn't particularly liked when i originally submitted it but i think becomes more relevant now. ``` I find such white-collar crimes very interesting because of the math between crime and punishment. For the crime that SBF is alleged to have committed, we can reasonably expect 20 yrs (he will be out in 10-12). But if he had committed a murder, he would be in prison for life (no parole…

The point of the punishment is to tell you how much we don’t want you to do it. You get life for murder because we really don’t want people killing people. Fleecing them out of money is bad, but we can (literally) print more of it. Once someone is dead we can’t bring them back. Your analysis is flawed because you’re looking at the problem from the vantage of collective outcomes. A murderer is one person who is making…

> Fleecing them out of money is bad, but we can (literally) print more of it. Once someone is dead we can’t bring them back.

The math of my argument was that with money, you can save lives, i.e., prevent people from dying. I don't believe the govt can print as much as it likes without hurting the economy (and thus people) in some other way.

The core of my argument is that defrauding billions of dollars causes deaths of dozens of people indirectly. Is that better than directly causing a death? I am not accussing anyone; just asking what I think is an interesting question.

Re: Sam Bankman-Fried sentenced to 25 years in prison

#703

Post by helpmefindpurp »

bambax wrote: post #62

I think that's about fair and reasonable. It's been said in Europe he would not have gotten more than years and it's probably true. 25 years is a really long time and even if he does only 20, still super long. Here's a live tweeting of the sentencing hearing; some of Judge Kaplan's remarks are really interesting. https://twitter.com/innercitypress/status/177334004374401064...

[dead]

Re: Sam Bankman-Fried sentenced to 25 years in prison

#704

Post by Lance_ET_Compte »

publius_0xf3 wrote: post #449

It's funny. I lost tens of thousands of dollars thanks to this individual, yet his sentence brings me no joy or arouses any emotion at all. I'm utterly indifferent to his fate for some reason and I don't know why. Yet if he had been a mugger who stole a much smaller amount of money from me on the street, I think I would've been far more vengeful. Should I feel vindictive? Or is it healthy to forget about it and move…

We see this among political figures that swindle hundreds of millions, fail to pay taxes, etc. over and over again. They are granted absolution and even admired.

Someone who steals food does time in jail.

Re: Sam Bankman-Fried sentenced to 25 years in prison

#705

Post by huytersd »

layer8 wrote: post #317

From the article, SBF will likely be out in 2036, at the age of 45. There’s a good chance he’ll get himself into shenanigans again, if not already from inside prison.

I hope he gets pardoned. Trump pardoned some straight vermin and I just don’t feel all that much hate towards SBF (I did lose a few thousand). I have to say I don’t see Biden being so blatantly “teamist” though I wish he would.

Re: Sam Bankman-Fried sentenced to 25 years in prison

#706

Post by menomatter »

Vicinity9635 wrote: post #490
A_D_E_P_T wrote: post #159

To put this into its proper perspective, see table 7 here: https://www.ussc.gov/sites/default/files/pdf/research-and-pu... In 2022, the average murderer in the Federal Southern District of New York (N = 58) was sentenced to a median of 231 months, which comes out to 19 years and change. No crime of any type had an mean or median sentence higher than 25 years; most were far less than half. So it should be really hard…

"AUSA Nicolas Roos: Samuel Bankman-Fried stole $8 billion dollars. It was theft, from customers spread all over the world. It was a loss that impacted people significantly and caused damage. I want to address a few of the new victim letters" "AUSA Roos: They lost their life savings. A man who lives in Portugal - the day before bankruptcy his daughter was born. He was marred by the ominous specter of financial instabi…

I have not been following any crypto news POST mtgx and pulling all my crypto to local storage. What did this guy actually do? Did he mismanage funds or literally took money from poeple and stashed it away?

Re: Sam Bankman-Fried sentenced to 25 years in prison

#707

Post by tdudhhu »

gabesullice wrote: post #665
tdudhhu wrote: post #503

The difference between opinions in this thread is interesting. I think it's mainly because some see a punishment as revenge and others as correction. But, as user publius_0xf3 is showing, revenge does not work. The victims don't get their money back. If this sentence is used as correction I also think it does not work. Would such a correction really take 25 years? His life is over. I don't see how such a long time is…

I wish society would stop viewing punishment as a tool for the greater good, whether as revenge or as something that will "correct" the criminal. Treating it as a correction feels like a lie that polite society tells itself in order to absolve itself of the distaste of knowingly harming someone. We shouldn't pretend we can "re-educate" anyone. We can merely provide opportunities for self improvement, but we can't act…

I think this is a wise answer. Thank you.

Re: Sam Bankman-Fried sentenced to 25 years in prison

#708

Post by sonar_un »

A_D_E_P_T wrote: post #159

To put this into its proper perspective, see table 7 here: https://www.ussc.gov/sites/default/files/pdf/research-and-pu... In 2022, the average murderer in the Federal Southern District of New York (N = 58) was sentenced to a median of 231 months, which comes out to 19 years and change. No crime of any type had an mean or median sentence higher than 25 years; most were far less than half. So it should be really hard…

The moral of the story, don't rob from rich people. If you rob from poor people, with MLM, or fraud, or money laundering, thats fine. But if you rob from the billionaires, you're being put away for life.

Re: Sam Bankman-Fried sentenced to 25 years in prison

#709

Post by harambae »

goalonetwo wrote: post #690
publius_0xf3 wrote: post #449

It's funny. I lost tens of thousands of dollars thanks to this individual, yet his sentence brings me no joy or arouses any emotion at all. I'm utterly indifferent to his fate for some reason and I don't know why. Yet if he had been a mugger who stole a much smaller amount of money from me on the street, I think I would've been far more vengeful. Should I feel vindictive? Or is it healthy to forget about it and move…

As someone who lost a little bit through this whole debacle I think it is because we willingly gave our money to FTX. We wanted to believe in this story that was too good to be true. We got fooled and we are slightly ashamed. When you get mugged you have no choice on what is happening. The actions are being forced physically on you. With FTX We chose to go that way so it somehow feels like we are as much to blame as…

“You can’t cheat an honest man” as the expression goes.

Not literally true - completely innocent people do get victimized - but there’s certainly a reason for the expression.

Re: Sam Bankman-Fried sentenced to 25 years in prison

#710

Post by duderific »

xrd wrote: post #441

As other people have pointed out here, he has the possibility of getting out in 12.5 years. That means he might miss his chance to have kids. Having your first kid at 38 is old, I should know. That means, ironically, he will be prevented from self imposed financial ruin, which is to say, trying to raise children in the US, especially as someone who came from the opulence of the bay area. Can you imagine the cost of t…

> Having your first kid at 38 is old, I should know.

Had my first kid at 45 and second at 49. Guess that makes me ... ancient?

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