More like Sam Bankman-Fraud, amirite?
Sam Bankfraud-Man
Sam Bankman-Fried Convicted
331–340 of 1001 posts
Re: Sam Bankman-Fried Convicted
#332More like Sam Bankman-Fraud, amirite?
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Re: Sam Bankman-Fried Convicted
#333In 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.
The 5 hours doesn’t surprise me. I was on the jury of a federal fraud trial with 2 defendants with 15 charges, ~30 million in losses. We were thorough and went through each count separately, including reviewing some of the evidence, and were done in maybe 8 hours spread across 2 days. We ended up with a mixed verdict: one count not guilty for both, another not guilty for one. I fully believe they were aware and commi…
“So, contrary to popular belief, the internet is not some big truck that you can just dump something on a la Ted Stevens; it’s more of a … series of tubes?”
‘That is correct.’
Re: Sam Bankman-Fried Convicted
#334Interestingly, FTX made a $500 million USD investment in Anthropic; supposedly, this was made while Anthropic was valued at $4.6 billion (unconfirmed). Now, Anthropic is nearing $30 billion. Anyone know the latest on this? Is FTX going to sell that stake off to pay back the debts? [1] https://www.businessinsider.com/sam-bankman-frieds-anthropic...
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Re: Sam Bankman-Fried Convicted
#335Earlier quoted context omitted.
They always appeal.. "Dad, why is the American government the best government? "Because of our endless appeals system" Thank You for Smoking
Appealing a criminal conviction is quite hard. It's certainly his right to file an appeal, but he's likely going to be detained for the duration of the appeals, and the likelihood of being successful seems pretty low to me.
Yeah you don’t just automatically get an appeal. You need to point to specific errors in the trial. Of which it didn’t seem like there were many.
Re: Sam Bankman-Fried Convicted
#336Impressively fast response. Would Travis Kalanick be found guilty for Greyballing and more had Uber had a "run on the bank"? Would Adam Neumann be found guilty for fraud if WeWork's current Chapter 11 was more than just a real estate lease re-negotiation? If the FTX recovery rate gets up to 80-90%, SBF's net fraud might be reduced in scale. In which case, why aren't others like TK going to jail?
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Re: Sam Bankman-Fried Convicted
#337Earlier quoted context omitted.
I was on a jury recently. Deliberations began after closing statements Friday morning. First thing we all agreed we would not be coming back on Monday…
> First thing we all agreed we would not be coming back on Monday… Kind of scary that this is the rigor our justice system hinges on.
Yep, the system is predicated on the decisions of a group that doesn't want to be there, but couldn't figure out a way to get out of it.
Re: Sam Bankman-Fried Convicted
#338More like Sam Bankman-Fraud, amirite?
Sam Bankrupt-Fraud?
Re: Sam Bankman-Fried Convicted
#339[flagged]
Re: Sam Bankman-Fried Convicted
#340I liked the article detailing how poorly he did on the stand: https://www.thefp.com/p/humiliating-cross-examination-sam-ba... “Did you say in private, ‘Fuck regulators?’ ” “Did you call some customers ‘dumb motherfuckers?’ ” “Did you fly to the Super Bowl in a private plane?” “Most FTX customers did not have a line of credit, correct?” “Do you deny that Alameda had a $65 billion line of credit?” And on, and on, and o…
I guess he didn't have the money to pay for a good defense team, or didn't listen. Pretty amateur hour what he did. Made it very easy and quick for the jurors.
His bail was 250M USD, I don't think money is an issue to his family.