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SBF Arrested by Bahamian Authorities

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Re: SBF Arrested by Bahamian Authorities

#91

Post by JumpCrisscross »

SBF's public conduct over the past weeks, and alleged conduct over the past years, reinforces an image of unintelligence. Be it genuine stupidity, stimulants or both, he isn't top-of-the-doghouse material. (Granted, easy to say ex post facto.)

The elephants in the room are Binance and Tether, together with certain high-profile investors. Taking some of these out could likely be worth a plea bargain. (For optics, he has to go to jail. But sending him to jail for a long time while letting the others go free for lack of evidence is a bad trade.)

Re: SBF Arrested by Bahamian Authorities

#92

Post by jsemrau »

DabbyDabberson wrote: post #27
mardifoufs wrote: post #7

Why did he stay in the bahamas? Was he allowed to travel?

I can't imagine why he wouldn't flee. If i was committing ~9 figures worth of fraud, I would have huge stashes of 1oz gold bars buried in countries without extradition like Vietnam and venezuela. He seems like he had no exit plan thought up. Madoff got 150 years in prison, and i dont see any reason why SBF would get any less.

That might be the inexperience. He used pretty much every outlet out there to talk about his story and what really surprised me was the naïveté of SBF and Caroline.

Re: SBF Arrested by Bahamian Authorities

#93

Post by rfw300 »

tenpies wrote: post #73
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.

Quoted post unavailable.

And the implied prediction was also dead wrong. So perhaps people should update their priors.

Re: SBF Arrested by Bahamian Authorities

#94

Post by fasthands9 »

tenpies wrote: post #73
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.

Quoted post unavailable.

Yeah but that was a very shitty prediction. It appears the charges filed were by SDNY which if anything is known for being anti-Trump. Essentially a bunch of democrat appointed attorneys arrested him.

Re: SBF Arrested by Bahamian Authorities

#96

Post by yourapostasy »

chinathrow wrote: post #21
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.

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

Don't know details of Binance, Tether or others. But at this point, it would be prudent to pull all except your in-play trading chips off the table into self-custody no matter what exchange you are using, until this whole kerfluffle is sorted out.

I wonder how crypto exchanges can guarantee non-hypothecation of customer funds in a DeFi trustless manner. The methods I've heard about still are tradfi-style centralized mechanisms that can still be subverted, and do not leverage crypto currency's strengths, though I'd sure like to be pointed to any exchange that has really figured this aspect out.

Re: SBF Arrested by Bahamian Authorities

#97

Post by kjksf »

throw_m239339 wrote: post #23
Forge36 wrote: post #10

Earlier quoted context omitted.

Maybe this was the only way to ensure he testified

> Maybe this was the only way to ensure he testified Nope, it doesn't make any sense to arrest him if the goal was to force him to testify in front of congress. Once he is placed under arrest then I'm pretty sure the house cannot make him testify if he is in custody, he becomes at the mercy of a judge and I imagine bail conditions will not allow him to talk in public about the case either.

There's no bail here.

Bail is a US thing for: when you're arrested and charged with a crime, you're not necessarily going to sit in jail until trial. You are either let go or you pay money (bail) to decrease the chance you'll flee. If you can't pay bail or bail is refused by the judge, you sit in jail.

SBF hasn't been charged yet. Bahamas arrested him for the sole purpose of preventing him from fleeing because U.S. indicated that they'll charge him and will want to extradite him to U.S.

I don't know if Bahamas even has a concept of bail but it doesn't apply here and wouldn't make sense to let him out.

Re: SBF Arrested by Bahamian Authorities

#98

Post by ceejayoz »

throw_m239339 wrote: post #33
jazzyjackson wrote: post #32

Earlier quoted context omitted.

Whatever, he's been talking plenty in Twitter Spaces, pretty much confessing to co-mingling funds.

> Whatever, he's been talking plenty in Twitter Spaces, pretty much confessing to co-mingling funds. None of that was under auth. "the prosecutor: but you said this on Twitter?" "SBF: I was no longer the CEO of FTX and I was just kidding".

You don’t have to be under oath for it to be evidence.

Re: SBF Arrested by Bahamian Authorities

#99

Post by abigail95 »

mccorrinall wrote: post #79
DabbyDabberson wrote: post #27

Earlier quoted context omitted.

I can't imagine why he wouldn't flee. If i was committing ~9 figures worth of fraud, I would have huge stashes of 1oz gold bars buried in countries without extradition like Vietnam and venezuela. He seems like he had no exit plan thought up. Madoff got 150 years in prison, and i dont see any reason why SBF would get any less.

> Madoff got 150 years in prison, and i dont see any reason why SBF would get any less. I actually see one: SBF mostly mishandled unregulated magic beans on an unregulated exchange (FTX.com). The unregulated magic beans on the regulated exchange FTX.US are still there, waiting for withdrawal, according to his tweets. US customers weren’t even allowed to register on FTX.com, which was outside the US. Anyway, he still…

The customers sent real money to FTX that was lost.

Even if they only sent magic beans, wire fraud covers any form of property - not just money.

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