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The big mistake is he was small enough to fail. He wasn't protected by institutions that have captured the government. If you are going to gamble with other people's money, you need to do it like the banks did in 2008. A direct "Ponzi" or embezzlement from your customers is too easy to connect the dots.
Don’t teach your kids Consequentialism folks.
https://www.popehat.com/2013/02/05/crime-whale-sushi-sentenc...
A takeaway:
"1. Maximum sentences have very little relation to actual sentences in federal law. When the government quotes the maximum sentence, they are trying to scare you. When the press quotes it, they are uninformed or lazy. Exercise skepticism. Resist emotional appeals to "how is this sentence reasonable when murderers get less?"
In under five hours! The jury was home in time for dinner. One question for legal people—why is there such a long gap between conviction and sentencing? In this case, the sentence won't be set until March of next year.
Because there's essentially a whole second sentencing trial. After the verdict, the Parole Office prepares a Presentence Report (I'm not sure if these are public? I'm always looking for them and never finding them on PACER†), the "PSR", which is like the opening bid for the recommended offense levels and grouping. The prosecution and defense then respond to the PSR with exculpatory, mitigating, or aggravating claims,…
Follow up - is there any kind of correlation in the gap length, between sentencing and PSR ?
I could see a situation where the gap is longer than a sentence, and that would be pretty sad for the prosecuted...
Like many of his strategies at FTX, his high risk approach to this trial for a high value payout (taking no plea deal and getting out with no charges) hasn’t worked out. I wonder if he himself is accepting of the outcome and isn’t already scheming or relying on another all-in gamble.
He's a lesser evil. The only reasons why he went down were: 1. because he's not a greater evil, he didn't get dirt on people who can bring you down is a great way to never be brought down (Epstein is an anomaly); and 2. he did it publicly, there are about 2500 known billionaires in the world and estimated another 1000 that have assets that cannot be accounted for determine net worth accurately; he should worked on ge…
Also he was stupid, any other billionaire would have relocated to a country that does not have extradition treaty with the US.
Well... this is justice. Sadly, we don't get to see justice very often. This is life in prison, correct? I know he hasn't been sentenced but all counts is easily several life sentences at the federal level. When do the parents go on trial? I can't see how they make it out of this without at least having all their ill-begotten assets stripped.
Have all of the people scammed been brought whole? That would be justice. Someone sitting in jail isn't justice. It is punishment for his actions. I've never understood how someone being incarcerated has become considered justice.
I'm not too familiar with the American system, could someone please explain how after the verdict does the sentencing work? The judge is the one who will now decide the sentence? And how long does that decision take, so when will we know what the consequences of the guilty verdict actually are? (For example, how many years in prison, or not).
There's a RICO prosecutor in GA who'd love to sit down with the SBF prosecutors to take notes.