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FTX's Sam Bankman-Fried Should Serve 40 to 50 Years in Prison, Prosecutors Say

wsj.com

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Re: FTX's Sam Bankman-Fried Should Serve 40 to 50 Years in Prison, Prosecutors Say

#4

Post by COGlory »

I'm curious if anyone has any idea - how much money is actually unaccounted for? Michael Lewis's book makes it seem like the money existed, but was all over the place, and that by the time all was said and done, they were basically in the black. But that was assuming investments didn't ever grow - they still had to have lost money somehow.

Re: FTX's Sam Bankman-Fried Should Serve 40 to 50 Years in Prison, Prosecutors Say

#8

Post by dmoy »

DSingularity wrote: post #3
webkike wrote: post #2

Can’t wait to be 75 and read the newspaper seeing he just got released

He will get out much sooner.

So if he's sentenced to 40 years in federal court ... (this is federal court, right? I forgot)

Fed doesn't do parole. Best you can get typically is time for good behavior for like 15% reduction in length.

But there's a good chance he doesn't get sentenced to 40 years, that's just what the prosecutor asks for. We dunno yet.

Re: FTX's Sam Bankman-Fried Should Serve 40 to 50 Years in Prison, Prosecutors Say

#9

Post by smcl »

COGlory wrote: post #4

I'm curious if anyone has any idea - how much money is actually unaccounted for? Michael Lewis's book makes it seem like the money existed, but was all over the place, and that by the time all was said and done, they were basically in the black. But that was assuming investments didn't ever grow - they still had to have lost money somehow.

Wasn’t the issue that the “money” that was left was actually in the form of largely worthless cryptocurrency investments, some of which were issued by FTX themselves.

Re: FTX's Sam Bankman-Fried Should Serve 40 to 50 Years in Prison, Prosecutors Say

#10

Post by jcranmer »

porkbeer wrote: post #5
webkike wrote: post #2

Can’t wait to be 75 and read the newspaper seeing he just got released

You really think he will do the whole sentance? I will be shocked if he sees more than 5.

Federal prison sentences don't offer a lot of opportunities for early release--you get to shave of 54 days per year of served time, or in other words, he might be able to get out 7 years early were he sentenced for 50 years.

The only way he'll serve less than 5 years is if Trump is elected president and decides to pardon him because no one should go to prison merely for defrauding people out of billions of dollars.

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