SBF Arrested by Bahamian Authorities • Hacker News Board

Re: SBF Arrested by Bahamian Authorities

#341

Post by g42gregory » Tue, Dec 13, 2022, 1:31 AM UTC

moralestapia wrote: post #247

tomp wrote: post #145

Earlier quoted context omitted.

Hm... does that mean she gets away scot-free? Not sure that's fair, she seems very complicit.

I'm sure SBF has plenty of dirt on her as well, and he'll start talking much sooner than anticipated. She will go to jail, definitely.

He is a much bigger "prize" for the prosecution. She had low profile and not all that well known to the electorate. Plus, prosecuting her may not even look all that good, for identity politics reasons. If she cooperated first, there is a good chance of immunity or very low sentence.

Re: SBF Arrested by Bahamian Authorities

#342

Post by Gigachad » Tue, Dec 13, 2022, 1:31 AM UTC

siftrics wrote: post #78

Gigachad wrote: post #62

Time to put all these frauds in jail and wrap up the crypto saga. Good practical demonstration why regulation and traditional finance work the way they do.

He could not have stolen the deposits in the manner he did if this was on-chain and the users self-custodied. Yes, DEXs exist.

How do decentralized exchanges convert USD to crypto and back again? Especially given all the legal compliance requirements. This seems impossible without a central service / legal entity.

Re: SBF Arrested by Bahamian Authorities

#343

Post by PLenz » Tue, Dec 13, 2022, 1:31 AM UTC

jonwachob91 wrote: post #127

323 wrote: post #57

Earlier quoted context omitted.

You still pass through passport control. There was talk that he was followed around everywhere in Bahamas by the police. Like I said, there are ways to keep someone on an island without arresting them. Especially in this case, what was he going to do, sue?

you don't need to pass through passport control to get on a boat. You can walk to any beach and get on a dingy that takes you to a larger boat.

He was being followed. The minute he boarded a boat the USCG would be enroute with a cutter to intradict and perform a thorough safety inspection in international waters, perfectly in line with their law enforement and maritime safety duties.

Re: SBF Arrested by Bahamian Authorities

#344

Post by anonporridge » Tue, Dec 13, 2022, 1:31 AM UTC

bandyaboot wrote: post #118

johnfn wrote: post #15

Alright, well, now that that's done - let's go find all those people in the past threads who were saying things like SBF will never be arrested.

Those people: “We shone a light on the corruption and forced their hand”. /s

Is this related to the preparedness paradox? /s

https://en.wikipedia.org/wiki/Preparedness_paradox

Re: SBF Arrested by Bahamian Authorities

#345

Post by trompetenaccoun » Tue, Dec 13, 2022, 1:31 AM UTC

slimebot80 wrote: post #55

For all the struggles facing the democratic world, it's nice to know there is a stream of justice that prevails. In certain other large counties, this man would either be protected or jailed depending on what party he aligns to. Sure, you can say the same for USA, but with far less immediacy. Over time things tend to sort themselves out.

A lot of the money that was lost came from institutions and some public funds as well. Ontario Teachers’ Pension Plan, BlackRock, Circle, Sequoia Capital, Binance, SoftBank,...

SBF is a crazy character, he somehow must have thought he was above it all. If he'd done what all these finance companies do, scamming the little man, he'd probably still be free. Alex Mashinsky yet has to be arrested for example. And people like Vladimir Tenev aren't even prosecuted, many of them get off with a slap on the wrist.

Re: SBF Arrested by Bahamian Authorities

#346

Post by adasdasdas » Tue, Dec 13, 2022, 1:32 AM UTC

object-a wrote: post #206

adasdasdas wrote: post #133

Earlier quoted context omitted.

https://www.nytimes.com/2022/11/14/technology/ftx-sam-bankma...

This article reports on: - commingling of funds between Alameda and FTX - conflicts of interest between the two, including SBF's relationship with the CEO - use of customer deposits to pay off loans for Alameda - that FTX and SBF are under investigation

It uses the same tone that SBF uses when characterizing the situation as a complicate mixup instead of what it really is, deliberate fraud using customer funds to increase leverage.

If you want to compare tone, you can look up any NYT article on FB https://www.nytimes.com/topic/company/facebook-inc.

If you want something specific to compare, just take a look at the headline/subtitle which about as far as most people get in any article.

Re: SBF Arrested by Bahamian Authorities

#347

Post by HideousKojima » Tue, Dec 13, 2022, 1:32 AM UTC

LarryMullins wrote: post #228

elcomet wrote: post #38

Earlier quoted context omitted.

It is specified in the document that they will extradite him to the US

Can they simultaneously criminally charge him and force him to testify before Congress without violating his 5th amendment rights? I think getting charged criminally does get him out of having to testify to Congress, or at least it should.

He can pleas the 5th to congress

Re: SBF Arrested by Bahamian Authorities

#348

Post by bdhe » Tue, Dec 13, 2022, 1:32 AM UTC

2OEH8eoCRo0 wrote: post #223

object-a wrote: post #186

Earlier quoted context omitted.

They ask about the real estate purchases, they ask about the transfers, they ask about conflicts of interest and criminal liability. How can a live unedited interview with those questions be a puff piece?

People here love to hate the press for some reason.

No, sadly there is a decidedly right-wing mind virus around how SBF is treated with kid gloves because he heavily donated to democrats.

Ignoring that he also donated to Republicans. This is all part of that narrative - substantiated or otherwise.

Re: SBF Arrested by Bahamian Authorities

#349

Post by jrochkind1 » Tue, Dec 13, 2022, 1:33 AM UTC

LarryMullins wrote: post #228

elcomet wrote: post #38

Earlier quoted context omitted.

It is specified in the document that they will extradite him to the US

Can they simultaneously criminally charge him and force him to testify before Congress without violating his 5th amendment rights? I think getting charged criminally does get him out of having to testify to Congress, or at least it should.

You don't have to have been charged to have 5th ammendment rights or be able to exersize them. He could have pled the 5th and not said anything whether or not they already charged him, it doesn't change that.

(If they grant you immunity , so they can't charge you even in the future, that's the only thing that gets you out of being able to plead the fifth).

Re: SBF Arrested by Bahamian Authorities

#350

Post by acdha » Tue, Dec 13, 2022, 1:33 AM UTC

kibwen wrote: post #299

TheAlchemist wrote: post #213

Earlier quoted context omitted.

Nan, you probably would not. Do you have somebody in Vietnam or Venezuela, with a small army of mercenaries, and that you trust enough to hide those stashes of gold ?

With the amount of money that's missing, $10B, one could afford to pay a regiment of 1,000 men a salary of $100,000 for the next hundred years.

How much does one of those soldiers get for ratting him out to whichever country/cartel is willing to pay 0.0001% of that as a finder’s fee or agree not to notice that all of his stuff went missing shortly before capture? If you’re hiring mercenaries willing to stand off law enforcement, what keeps some of them from realizing that they can kill you and get their money all at once?

This is the prepper fallacy: stockpiling riches but not allies makes you a target, not safe. Maybe you can get away with it if you’re an incredibly charismatic cult leader but most people are going to be much better off with friends and family than a pile of Krugerrands and guns.