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FTX's Sam Bankman-Fried Should Serve 40 to 50 Years in Prison, Prosecutors Say

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11–20 of 132 posts

Re: FTX's Sam Bankman-Fried Should Serve 40 to 50 Years in Prison, Prosecutors Say

#11
post #4

I'm curious if anyone has any idea - how much money is actually unaccounted for? Michael Lewis's book makes it seem like the money existed, but was all over the place, and that by the time all was said and done, they were basically in the black. But that was assuming investments didn't ever grow - they still had to have lost money somehow.

For a multitude of reasons, Lewis is an unreliable narrator...

Re: FTX's Sam Bankman-Fried Should Serve 40 to 50 Years in Prison, Prosecutors Say

#12
post #5
post #2

Can’t wait to be 75 and read the newspaper seeing he just got released

You really think he will do the whole sentance? I will be shocked if he sees more than 5.

Do you think he'll get a sentence that short, or that one of the next two presidencies will pardon him?

Re: FTX's Sam Bankman-Fried Should Serve 40 to 50 Years in Prison, Prosecutors Say

#13
post #11
post #4

I'm curious if anyone has any idea - how much money is actually unaccounted for? Michael Lewis's book makes it seem like the money existed, but was all over the place, and that by the time all was said and done, they were basically in the black. But that was assuming investments didn't ever grow - they still had to have lost money somehow.

For a multitude of reasons, Lewis is an unreliable narrator...

Yes, leave only an accusation without supporting facts or ideas.

Re: FTX's Sam Bankman-Fried Should Serve 40 to 50 Years in Prison, Prosecutors Say

#14
post #4

I'm curious if anyone has any idea - how much money is actually unaccounted for? Michael Lewis's book makes it seem like the money existed, but was all over the place, and that by the time all was said and done, they were basically in the black. But that was assuming investments didn't ever grow - they still had to have lost money somehow.

My understanding is that the money is "back", but only because the Crypto holdings were frozen at the point of bankruptcy and the crypto prices have more than doubled since then.

So, account holders might get something approaching the dollar value of what they held two years ago, not what they "should" have got if they still held it today.

Re: FTX's Sam Bankman-Fried Should Serve 40 to 50 Years in Prison, Prosecutors Say

#16
post #8

Earlier quoted context omitted.

He will get out much sooner.

So if he's sentenced to 40 years in federal court ... (this is federal court, right? I forgot) Fed doesn't do parole. Best you can get typically is time for good behavior for like 15% reduction in length. But there's a good chance he doesn't get sentenced to 40 years, that's just what the prosecutor asks for. We dunno yet.

The minimum for federal sentences is that you have to serve 2/3.

Re: FTX's Sam Bankman-Fried Should Serve 40 to 50 Years in Prison, Prosecutors Say

#18
post #14
post #4

I'm curious if anyone has any idea - how much money is actually unaccounted for? Michael Lewis's book makes it seem like the money existed, but was all over the place, and that by the time all was said and done, they were basically in the black. But that was assuming investments didn't ever grow - they still had to have lost money somehow.

My understanding is that the money is "back", but only because the Crypto holdings were frozen at the point of bankruptcy and the crypto prices have more than doubled since then. So, account holders might get something approaching the dollar value of what they held two years ago, not what they "should" have got if they still held it today.

Let's see if it goes like MtGox where it takes more than a decade to pay out the money.

Re: FTX's Sam Bankman-Fried Should Serve 40 to 50 Years in Prison, Prosecutors Say

#20
post #15

Seem too lenient

Yeah, like for stealing 11 million it would mean 14 to 18 day sentence... Which seems very very little for the amount.

Justice runs on a log scale, and the base is left for individual jurisdictions or judges to decide.
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