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Sam Bankman-Fried sentenced to 25 years in prison

cnn.com

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

#101

Post by gizajob »

misiti3780 wrote: post #15
tithe wrote: post #2

Seems 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 long time. Not saying he doesn't deserve more but his parents will probably be dead by the time he gets out, and he wont have a family. Also, he was addicted to the internet (supposedly), he wont have access to that either.

His parents who are professors of legal ethics? His mother is getting a long-term lesson in the theories of consequentialism that she is a supporter of.

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

#102

Post by ceejayoz »

birracerveza wrote: post #89

I wonder how many of those will actually be served... one way or the other.

Federal prisoners serve an average of 85% of their sentence. One year gets you 54 days "good conduct time" and that's about it. https://en.wikipedia.org/wiki/Good_conduct_time

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

#104

Post by zippothrowaway »

hluska wrote: post #20
zippothrowaway wrote: post #4

[flagged]

What’s with the sudden turn to “haha everyone was wrong in the past” on here? There’s nothing wrong with being wrong. What’s the point?

The point is not that people were wrong but they were wrong because they had knee-jerk, lazy takes that should be disparaged.

I also know that the some of the people making these kind of takes have already pivoted to another knee-jerk, lazy take along the lines of "well, he ripped off rich people".

I'd actually appreciate it if anybody who made the original statements about Democrats not prosecuting SBF would come on and admit they were wrong.

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

#105

Post by [deleted] »

arrowsmith wrote: post #40
PokedBear wrote: post #24

Earlier quoted context omitted.

If someone isn't a violent threat to society, there isn't much social benefit to keeping folks locked up longer then 20-ish years. 20-25 (assuming he gets the 15% off for good behavior the feds allow) is plenty.

> there isn't much social benefit to keeping folks locked up Deterrent

[deleted]

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

#106

Post by AustinDev »

ak_111 wrote: post #57
sabana wrote: post #14

Quite a short sentence for the magnitude of the crime. Financial crimes like these do kill people and destroy countless lives. They deserve maximum pentalties.

It is long enough to destroy his life. What matters if he gets out at 70 or 80 if he gets out at 60?

He gets out at 51. Somewhere around there with 25 year sentence at 31 with credit for time served.

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

#107

Post by acdha »

hluska wrote: post #20
zippothrowaway wrote: post #4

[flagged]

What’s with the sudden turn to “haha everyone was wrong in the past” on here? There’s nothing wrong with being wrong. What’s the point?

A lot of people confuse cynicism with wisdom, and that sets people up to be susceptible to bigger problems. For example, if you believe the legal system is corrupt and dysfunctional, it’s very easy to passively tune out and not support reform efforts because you think they’re pointless.

We see this a lot in politics where accusations of corruption are used to conflate people who are orders of magnitude apart – a good example of that are the recent classified documents investigations where some faux-sophisticates tried the “both sides do it!” excuse without recognizing the difference between immediate compliance and protracted resistance on contrived grounds.

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

#108

Post by floor2 »

shiftpgdn wrote: post #34
PokedBear wrote: post #24

Earlier quoted context omitted.

If someone isn't a violent threat to society, there isn't much social benefit to keeping folks locked up longer then 20-ish years. 20-25 (assuming he gets the 15% off for good behavior the feds allow) is plenty.

I think ruining thousands of lives through fraud without remorse constitutes a threat to society. He should never see the light of day again.

What lives did he ruin?

The USA has an incredibly robust, tightly monitored and regulated financial market. The SEC, FDIC and associated regulators and auditors carefully control bank reserves, prosecute insider trading, prevent and insure against fraud.

Some people decided to opt-out of that system and send their money to an unregulated entity in the Bahamas to buy imaginary money without government oversight.

Honestly the government shouldn't have intervened here at all. The people who lost money should have been laughed at and told that's why you put your money in the regulated market. If you intentionally try to avoid taxes, anti-money laundering regulations, audits and securities law by buying crypto overseas, then taxpayer resources don't go bail you out.

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

#110

Post by melenaboija »

sabana wrote: post #14

Quite a short sentence for the magnitude of the crime. Financial crimes like these do kill people and destroy countless lives. They deserve maximum pentalties.

What is the goal of the punishment?

If it is to harm him and make the rest of the world satisfied with it 25 years behind bars seems enough to me, I don’t care if it is 25, 35 or 155. In five years I will have forgotten about this.

If it is stopping others, same thing, I don’t think that if someone is determined to do something similar would care about 25 or more years.

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