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SBF Arrested by Bahamian Authorities

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Re: SBF Arrested by Bahamian Authorities

#491

Post by jxi »

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…

Hard to believe they weren't complicit in the fraud given users were wiring money directly to Alameda's bank accounts (for deposits intended for FTX). You (Alameda) receive thousands of wires from random people, so you just decide it's OK to trade with it?

Granted they technically have no fiduciary duty to users since nobody signed a contract with them, I doubt they get off scott free.

Re: SBF Arrested by Bahamian Authorities

#492

Post by skullone »

dheera wrote: post #444
jeremyjh wrote: post #411

Earlier quoted context omitted.

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.

Are you dense? Do you know how money works? Do you know capitalization methods modern banking has been using for nearly 2500 years?

Re: SBF Arrested by Bahamian Authorities

#493

Post by boplicity »

trompetenaccoun wrote: post #345
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 l…

Don't feel bad for Blackrock/Sequoia/Softbank etc. These are professional investors, yet they invested in a finance company that didn't even have proper financial sheets. To let that slide is pure negligence, and, frankly, should put them on the hook for the monetary loss from the FTX customers.

Re: SBF Arrested by Bahamian Authorities

#494

Post by dagenix »

dheera wrote: post #444
jeremyjh wrote: post #411

Earlier quoted context omitted.

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.

They do have your consent - thats how banks work and you agree that when you deposit money in one. It seems that you are unhappy about having to consent? But, what I'm confused about is what you are upset - your money in a bank is FDIC insured, so, unless you have account that exceed the limits of that insurance, you have no risk from you bank going insolvent. So, what's the problem?

Re: SBF Arrested by Bahamian Authorities

#495

Post by acdha »

kelnos wrote: post #367
acdha wrote: post #310

Earlier quoted context omitted.

He’s the latest example of why many RPGs have separate stats for intelligence and wisdom. He’s clearly not stupid but his lawyers must be sitting at their desks sobbing “stop giving interviews!”

I was thinking something similar, that being intelligent doesn't mean you're smart, but I think "wisdom" says it better.

I won’t claim it’s an original idea but … wow, would I have snickered at an author for laying on too thick if he’d been a character in a novel.

Re: SBF Arrested by Bahamian Authorities

#496

Post by cycrutchfield »

sixothree wrote: post #404
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 wasn't one of those people, but they definitely had history on their side. Nothing seems to escape prosecution in the eyes of the public like financial crimes.

Because convicting somebody of financial crimes requires proving intent, which is time-consuming and really hard to do. It’s not that people who commit financial crimes are able to bribe their way out of conviction, it’s that proving what is in somebody’s head is a difficult challenge.

Re: SBF Arrested by Bahamian Authorities

#497

Post by [deleted] »

lloydatkinson wrote: post #377
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.

Reminds me of the times other HN threads were full of people saying tick tock is perfectly safe and does not send all your data to their servers, hahaha.

[deleted]

Re: SBF Arrested by Bahamian Authorities

#499

Post by nwienert »

jasonlotito wrote: post #488
_-david-_ wrote: post #475

Earlier quoted context omitted.

A guy who quite likely stole billions of dollars can't prove he donated money to Republicans and we should just trust him?

They are public record.

The stats I saw showed far less to R, are there others?

Re: SBF Arrested by Bahamian Authorities

#500

Post by yucky »

tomp wrote: post #145
dereg wrote: post #104

Earlier quoted context omitted.

It's clear Caroline Ellison has turned against him. Stephanie Avakian, former SEC enforcement chief, is representing her in NY. I'm guessing they wouldn't have been able to file charges this quickly without Caroline becoming a cooperating witness.

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

93% of prisoners are men[1], so it's pretty common that women do not face justice.

[1] https://www.bop.gov/about/statistics/statistics_inmate_gende...

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