25 years for stealing billions, life for running a website where people broke the law. Justice inc.
It’s not about justice. It’s all about who you know.
More like they robbed rich, which is no-no. Robbing poor is ok.
Sam Bankman-Fried Sentenced to 25 Years
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Re: Sam Bankman-Fried Sentenced to 25 Years
#32Earlier quoted context omitted.
...didn't the Silk Road guy (which is what I assume you're referencing) also hire assassins to attack his criminal-enterprise opponents?
He "hired" an FBI agent to kill another (non existing) FBI agent after being extorted and lied to by an FBI agent. But keep repeating the "truth" til it becomes facts. Remember the autistic kids that get set up by the FBI? That, but virtually.
I mean, the transcripts don't look great even if it turns out that he was actually talking to a FBI agent who never actually did anything about it:
> Dread Pirate Roberts 3/31/2013 8:59: Don't want to be a pain here, but the price seems high. Not long ago, I had a clean hit done for $80k. Are the prices you quoted the best you can do?
https://www.wired.com/2015/02/read-transcript-silk-roads-bos...
Re: Sam Bankman-Fried Sentenced to 25 Years
#33Bernie Madoff got 150 years and I believe most (a lot of?) people got their money back. If being rich and powerful buys you "justice", where did Bernie fail?
> most (a lot of?) people got their money back
On average people got 70% of their money back I believe. However the story is way more complicated than that.
Most Madoff investors put their money in decades before, saw 20+ years of growth, and took out dividends over those years. Most investors were pensioners living off their dividends.
When the team came in to clear up the mess at the end, they redistributed the money according to pay-ins and pay-outs. So, imagine you put $1m into the fund in 1985, took $100k out per year, and in 2005, 20 years later, still had >$1m in the fund. In ~2010, the restructuring team would sue you for $1m because you had taken out $2m after putting in only $1m. But you don't have that money, all you've got is a house and a reasonable yearly salary. Unfortunately many people lost their houses and other assets because they had taken out more than their original contribution over the >20 year period.
Even if you didn't take anything out, people bet the rest of their financial lives on the fact that their initial contribution had gone up. Only counting for inflation, getting back their initial investment would be a terrible financial outcome, but accounting for what they reasonably thought they had, this would still be ruinous.
This is all why FTX saying people might get back their money is a terribly misleading statement.
Re: Sam Bankman-Fried Sentenced to 25 Years
#34Bernie Madoff got 150 years and I believe most (a lot of?) people got their money back. If being rich and powerful buys you "justice", where did Bernie fail?
He ripped off the rich and powerful.
Re: Sam Bankman-Fried Sentenced to 25 Years
#35Bernie Madoff got 150 years and I believe most (a lot of?) people got their money back. If being rich and powerful buys you "justice", where did Bernie fail?
Why should it make a difference to your sentence whether or not your victims get their money back?
Re: Sam Bankman-Fried Sentenced to 25 Years
#3625 years for stealing billions, life for running a website where people broke the law. Justice inc.
https://en.wikipedia.org/wiki/Ross_Ulbricht > The evidence that Ulbricht had commissioned murders was considered by the judge in sentencing Ulbricht to life and was a factor in the Second Circuit's decision to uphold the sentence. If this is what you are referring to... Commissioning murders makes him quite a dangerous person.
My understanding was that that wasn't proven in the case, or part of the charges? Making it pretty messed up that it's what drove sentencing
Re: Sam Bankman-Fried Sentenced to 25 Years
#37Scam Bankrun-Fraud? Couldn’t happen to a nicer person.
Re: Sam Bankman-Fried Sentenced to 25 Years
#3825 years for stealing billions, life for running a website where people broke the law. Justice inc.
Sam Bankman-Fried defrauded people. He didn’t intentionally create a digital black market, where everything from hit jobs, narcotics, poison, weapons, and human trafficking could (and were) conducted.
And since there are many well-known marketplaces for legal activities (eBay, Craigslist, Kijiji, Facebook Marketplace, AutoTrader.com, need I go on?) then the only defining feature was that this was a black market.
One cannot “accidentally” do this. So yes, aiding and abetting countless crimes and possibly murder —> life sentence.
In that context do you still find it unjust?