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

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

#21

Post by inglor_cz »

dmoy wrote: post #8
DSingularity wrote: post #3

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.

A federal inmate can theoretically get presidential clemency.

Obama granted almost 2000 clemencies. Biden, so far, about a dozen + 6500 for simple possession of MJ. Trump was in between with something over 200.

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

#22

Post by TillE »

sublinear wrote: post #17

What about Caroline Ellison, Gary Wang, and Nishad Singh? This wasn't just Sam Bankman-Fried and the rest should be rounded up for racketeering. Their plea deals were only with the Southern District of New York.

They plead guilty, which would have been the smart thing for SBF to do even if there was no deal on the table. At least he'd have avoided annoying the judge with hours of blatantly dishonest testimony.

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

#23

Post by typon »

sublinear wrote: post #17

What about Caroline Ellison, Gary Wang, and Nishad Singh? This wasn't just Sam Bankman-Fried and the rest should be rounded up for racketeering. Their plea deals were only with the Southern District of New York.

Why is it acceptable to let people go so lightly just for snitching? They commited similar crimes.

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

#24

Post by com2kid »

Question here: What is the purpose of a sentence this long?

I understand that for this type of crime the goal is deterrence rather than rehabilitation, but let's say we had a habit of locking up corrupt billionaires for 20 years instead of 50. I'd argue that the lost opportunity cost for people that wealthy (or really for anyone) that 20 years is as much a deterrent as 50 years, but at a lower cost to the tax payer.

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

#25

Post by sumeno »

typon wrote: post #23
sublinear wrote: post #17

What about Caroline Ellison, Gary Wang, and Nishad Singh? This wasn't just Sam Bankman-Fried and the rest should be rounded up for racketeering. Their plea deals were only with the Southern District of New York.

Why is it acceptable to let people go so lightly just for snitching? They commited similar crimes.

So lightly as what? They haven't been sentenced yet

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

#26

Post by adventured »

sublinear wrote: post #17

What about Caroline Ellison, Gary Wang, and Nishad Singh? This wasn't just Sam Bankman-Fried and the rest should be rounded up for racketeering. Their plea deals were only with the Southern District of New York.

It's hard to tell what deals were cut by the Feds to get Bankman-Fried. Sometimes people get a relative slap on the wrist and it's because they provided a bunch of ammunition the government needed for its case to get the top target/s.

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

#27

Post by CydeWeys »

typon wrote: post #23
sublinear wrote: post #17

What about Caroline Ellison, Gary Wang, and Nishad Singh? This wasn't just Sam Bankman-Fried and the rest should be rounded up for racketeering. Their plea deals were only with the Southern District of New York.

Why is it acceptable to let people go so lightly just for snitching? They commited similar crimes.

Because they collaborated with the prosecution. Without collaboration it's entirely possible that no one would've been found guilty.

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

#29

Post by andrewxdiamond »

typon wrote: post #23
sublinear wrote: post #17

What about Caroline Ellison, Gary Wang, and Nishad Singh? This wasn't just Sam Bankman-Fried and the rest should be rounded up for racketeering. Their plea deals were only with the Southern District of New York.

Why is it acceptable to let people go so lightly just for snitching? They commited similar crimes.

It’s makes it harder for organizations like this to exist in the future. If you and your co-conspirators knew you were all getting the same sentence, no matter what, you’re not likely to snitch.

But if the option of plea deals is ever present, you’re more likely to get whistleblowers. Any single whistleblower make the whole thing tumble.

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