Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

SBF Arrested by Bahamian Authorities

twitter.com

Post reply on HN
Print view View original

441–450 of 886 posts

Re: SBF Arrested by Bahamian Authorities

#441

Post by nordsieck »

CydeWeys wrote: post #376
g42gregory wrote: post #341

Earlier quoted context omitted.

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.

> Plus, prosecuting her may not even look all that good, for identity politics reasons. Strongly disagree with this. Look at how they threw the book at Elizabeth Holmes (vs, say, Adam Neumann, or any other male founder from the last decade plus). If anything women have been getting it harder.

> Strongly disagree with this. Look at how they threw the book at Elizabeth Holmes (vs, say, Adam Neumann, or any other male founder from the last decade plus).

There are plenty of male founders who got popped for fraud. Trevor Milton (of Nikola infamy) is an easy one that comes to mind.

Re: SBF Arrested by Bahamian Authorities

#442

Post by stickfigure »

CydeWeys wrote: post #376
g42gregory wrote: post #341

Earlier quoted context omitted.

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.

> Plus, prosecuting her may not even look all that good, for identity politics reasons. Strongly disagree with this. Look at how they threw the book at Elizabeth Holmes (vs, say, Adam Neumann, or any other male founder from the last decade plus). If anything women have been getting it harder.

Neumann was never accused of a crime.

Jeff Skilling (Enron) served 12 years.

Ken Lay (Enron) died before sentencing, but was facing up to 45 years.

Bernard Ebbers (Worldcom) served 13 years.

Re: SBF Arrested by Bahamian Authorities

#443

Post by hn_throwaway_99 »

dahdum wrote: post #320
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 haven’t seen any evidence Alameda itself committed any crime, only that they were terrible traders and lost many billions on margin through FTX, who gave them special treatment for collateral. SBF then tried to bail them out with FTX customer funds since he owned both. I think Ellison will get off scot free since she only controlled Alameda, and not entirely. Her crimes are probably minor and worth forgiving for he…

I'd take that bet 7 days a week and twice on Sundays.

No way Ellison is getting off scot free. I'd expect her to get a huge reduction in her sentence, but would still be shocked if she got no jail time.

It has been reported that there was a meeting that included SBF, Ellison and the other high ups at FTX where the decision was deliberately, explicitly made that Alameda would use customer funds to prop itself up. That is most definitely a crime on Ellison's part if true.

Re: SBF Arrested by Bahamian Authorities

#444

Post by dheera »

jeremyjh wrote: post #411
dheera wrote: post #364

Earlier quoted context omitted.

Quoted post unavailable.

The bank has your consent, and brokerages and exchanges are not banks.

No, they don't have my consent.

I'm forced to use banks because the government won't protect me from criminals if I shove cash under my mattresses.

The banks don't offer an "opt-out" option when you register. Real consent means you offer "yes" and "no" and the other party says yes.

It's effectively forced upon me.

Re: SBF Arrested by Bahamian Authorities

#445

Post by cactusplant7374 »

user3939382 wrote: post #423
jasonhansel wrote: post #261

Earlier quoted context omitted.

I remember a lot of people strongly believed that SBF would never get in trouble because he was a Democratic donor, and that this was all part of some vast corruption scandal. It turns out not everything is a conspiracy.

It’s not that everything’s a conspiracy, it’s that everything is corrupt. Our whole system is from top to bottom. The PR and public statements are almost never the private statements or full story. Even with all the corruption, sometimes the optics are a bridge too far, even for the connected.

Strongly disagree. I think you can fairly say that about developing countries. I live in one now and it’s almost assumed politicians are on the take. But in the US many people are very principled.

I also don’t see why complete transparency would be the goal of the justice department. Sam might think of moving to Dubai if he knows all their moves.

Re: SBF Arrested by Bahamian Authorities

#446

Post by [deleted] »

user3939382 wrote: post #423
jasonhansel wrote: post #261

Earlier quoted context omitted.

I remember a lot of people strongly believed that SBF would never get in trouble because he was a Democratic donor, and that this was all part of some vast corruption scandal. It turns out not everything is a conspiracy.

It’s not that everything’s a conspiracy, it’s that everything is corrupt. Our whole system is from top to bottom. The PR and public statements are almost never the private statements or full story. Even with all the corruption, sometimes the optics are a bridge too far, even for the connected.

[deleted]

Re: SBF Arrested by Bahamian Authorities

#447

Post by siftrics »

Animats wrote: post #295

He may never see the world outside of a jail again. Most white-collar criminals are released on bail. But after extradition, it's different.[1] "The Bail Reform Act ... and the attendant presumption in favor of bail for persons facing trial, apply only to criminal defendants and are inapplicable to fugitives facing extradition proceedings. Because of the potential harm to the country's international relations that co…

1. Incorporating a company in another country and abiding by its rules and regulations is not and should not, in and of itself, be considered "evasion" of US regulation.

2. The US has refused to draft clear legislation regarding how to operate a crypto company in the US, effectively forcing all interested parties to take the route described in point 1.

Re: SBF Arrested by Bahamian Authorities

#448

Post by PragmaticPulp »

jasonhansel wrote: post #261
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.

I remember a lot of people strongly believed that SBF would never get in trouble because he was a Democratic donor, and that this was all part of some vast corruption scandal. It turns out not everything is a conspiracy.

The new conspiracy is that SBF was arrested to prevent him from spilling the beans on something during his PR tour.

It doesn't make any sense, but the conspiracy people are experts at mental gymnastics.

Re: SBF Arrested by Bahamian Authorities

#449

Post by jasonhansel »

Udo_Schmitz wrote: post #390
jasonhansel wrote: post #261

Earlier quoted context omitted.

I remember a lot of people strongly believed that SBF would never get in trouble because he was a Democratic donor, and that this was all part of some vast corruption scandal. It turns out not everything is a conspiracy.

Well…: “SBF was the second-largest Democratic donor during the last election cycle, and he told Fong he gave about the same amount to Republicans. ” https://fortune.com/crypto/2022/11/29/sam-bankman-fried-poli...

The HN commenters in question were universally saying that he made up the donations to Republicans to cover up his more extensive connections to Democrats.

Re: SBF Arrested by Bahamian Authorities

#450

Post by jacquesm »

from wrote: post #42
chinathrow wrote: post #21

Earlier quoted context omitted.

No, look forward and get Binance and the Tether guys.

What did Binance do wrong again? I don’t consider having faulty blockchain analysis software at a time (2018) when most blockchain analysis software wasn’t very good a crime. And the Iranians they supposedly aided all used VPNs and hid the fact that they were Iranian. I think the best the government will get out of Binance is a DPA but that’s just me.

They'll be caught shuttling around money from account to account to inflate the apparent amount of reserves on the books by my reading of that Mazar's doc.

(to elaborate: Look here, we have 2 billion in this account on Monday, 2 billion on that account on Tuesday and 2 billion over there on Wednesday, so that makes 6 billion total, right?).

Post reply on HN