Pending justice for SBF | Bitcointalksearch.org

zasad@

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Quote from: FP91G on April 17, 2024, 06:30:33 AM

Sam Bankman-Fried, facing the prospect of spending much of his adult life behind bars, on Thursday appealed his conviction and 25-year prison sentence for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded.
Defense lawyer Marc Mukasey had announced plans for the appeal to the Manhattan-based 2nd U.S. Circuit Court of Appeals during Bankman-Fried's March 28 sentencing hearing. The 32-year-old former billionaire crypto wunderkind was convicted in November on seven counts of fraud and conspiracy in what federal prosecutors have called one of the biggest financial frauds in U.S. history.
https://www.reuters.com/legal/bankman-fried-appeals-ftx-fraud-conviction-25-year-sentence-2024-04-11/

Sam Bankman-Fried broke a lot of laws that he may not get an even longer sentence as a result of the new trial.
The investigation was very long and in fact an appeal in a case like this can take a long time, and when it does, many people will have forgotten about Sam Bankman-Fried.
I don't understand who else got jail time, or were all the witnesses along with Caroline Eliesson?

FP91G

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Sam Bankman-Fried, facing the prospect of spending much of his adult life behind bars, on Thursday appealed his conviction and 25-year prison sentence for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded.
Defense lawyer Marc Mukasey had announced plans for the appeal to the Manhattan-based 2nd U.S. Circuit Court of Appeals during Bankman-Fried's March 28 sentencing hearing. The 32-year-old former billionaire crypto wunderkind was convicted in November on seven counts of fraud and conspiracy in what federal prosecutors have called one of the biggest financial frauds in U.S. history.
https://www.reuters.com/legal/bankman-fried-appeals-ftx-fraud-conviction-25-year-sentence-2024-04-11/

zasad@

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Sure Warren Buffett may not be everyone's favorite, but at least he knows what he's talking about. Not like that farmer in the story below.

https://www.msn.com/en-us/money/other/sbf-is-going-to-prison-but-the-fight-over-money-at-ftx-drags-on/ar-BB1l7pw0
"Crypto has embarked on an epic rally, pushing bitcoin to around four times its price when FTX fell. The gains have enabled FTX’s bankruptcy estate to say it will settle many creditor claims in full, a prospect that seemed laughably optimistic when the firm collapsed.

Spring has brought a measure of justice for FTX’s victims: Sam Bankman-Fried, the crypto exchange’s founder, was sentenced last month to 25 years in prison for what prosecutors called one of the largest financial frauds in U.S. history.

But for many onetime FTX customers, the exchange’s collapse is still a source of anger and frustration. Some are fighting to recover what they can from bankruptcy trustees who are preparing to distribute billions of dollars as soon as this year. Others are regretting their decisions to sell the claims to their FTX accounts to savvy hedge funds for pennies on the dollar. Some of these hedge funds stand to double their investment or more when the distributions take place."

larry_vw_1955

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Quote from: zasad@ on April 05, 2024, 09:28:26 AM

SBF has broken a lot of laws in the US and as a rule who rises very fast, falls very fast.
If you look at the experience of famous investors in the USA, such as Warren Buffet, I am sure that he did not lose even a cent in the SBF scam.

i don't think much of warren buffet except that i don't find him to be a very interesting person. all he can do is spit out generic advice. i don't find him too helpful or insightful but maybe that's to my detriment. but when i heard he didn't think much of bitcoin that's when i knew i didn't really like him...

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What claims can you have against a casino when you lose your money there. But casinos now have a more transparent and regulated business compared to what has happened and is happening now in the crypto market.

casinos its understood you are gambling. but when you win, you always get paid. no one is getting stiffed.

sam kind of reminds me of a warren buffet type. i don't see in them anything remarkable even though the world apparently LOVES them. but i remember seeing a shaq interview where he said he was skeptical of SBF from the getgo. shaq is no dummy unlike alot of people...

zasad@

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Quote from: larry_vw_1955 on April 01, 2024, 12:40:06 AM

Quote from: zasad@ on March 31, 2024, 08:04:28 AM

Any investor who has lost their money in SBF's little scam should first think twice before making any further investments.

what exactly was his little scam, was he paying people 15% per month? i just thought FTX was a crypto exchange where people traded bitcoin so most of them had NO IDEA their money was being misused and lost. until they tried to withdraw what was rightfully theres then they found out all gone.

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A smart investor diversifies risks so that in the event of a scam, he does not lose all his capital. And if someone invests all-in, then SBF is not to blame. The idiot will still lose his money.

i think FTX brought in alot of naive people who had never bought crypto before and had no idea about any of it they just saw some advertisement from FTX and thought it was legit. probably thought their money was insured by the FDIC.

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I lost some of my money because I diversified it into the Terra USD stablecoins of the Do Kwon project. But personally, I don't care whether Do Kwon is punished or not. I made bad decisions, so I don't hate Do Kwon.

it was a game to you and you gambled and lost a bit. that's how you looked at it. but that's not how the government of his country might have looked at it! but anyone that wants to gamble needs to adopt your type of mindset no doubt. otherwise they'll be seeing the poor house

SBF has broken a lot of laws in the US and as a rule who rises very fast, falls very fast.
If you look at the experience of famous investors in the USA, such as Warren Buffet, I am sure that he did not lose even a cent in the SBF scam.
What claims can you have against a casino when you lose your money there. But casinos now have a more transparent and regulated business compared to what has happened and is happening now in the crypto market.

safar1980

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Sam Bankman-Fried’s FTX workforce left depressed, unable to find work after crypto firm’s downfall: report
Some of Sam Bankman-Fried’s former staffers from his now-bankrupt FTX have reportedly struggled to land another job and have battled depression since the cryptocurrency exchange’s stunning downfall.

Natalie Tien, who led public relations for FTX and was also Bankman-Fried’s executive assistant, saw at least $500,000 in personal investments tied up in FTX and various crypto coins vanish upon FTX’s collapse in November 2022, according to the Wall Street Journal.

Tien told the Journal that in the months after Bankman-Fried was found out for having swiped FTX user funds to plug an $8 billion debt at sister company and failing hedge fund Alameda Research, she suffered from depression and would cry randomly in public, including in a New York City grocery store.

larry_vw_1955

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Quote from: zasad@ on March 31, 2024, 08:04:28 AM

Any investor who has lost their money in SBF's little scam should first think twice before making any further investments.

what exactly was his little scam, was he paying people 15% per month? i just thought FTX was a crypto exchange where people traded bitcoin so most of them had NO IDEA their money was being misused and lost. until they tried to withdraw what was rightfully theres then they found out all gone.

Quote

A smart investor diversifies risks so that in the event of a scam, he does not lose all his capital. And if someone invests all-in, then SBF is not to blame. The idiot will still lose his money.

i think FTX brought in alot of naive people who had never bought crypto before and had no idea about any of it they just saw some advertisement from FTX and thought it was legit. probably thought their money was insured by the FDIC.

Quote

I lost some of my money because I diversified it into the Terra USD stablecoins of the Do Kwon project. But personally, I don't care whether Do Kwon is punished or not. I made bad decisions, so I don't hate Do Kwon.

it was a game to you and you gambled and lost a bit. that's how you looked at it. but that's not how the government of his country might have looked at it! but anyone that wants to gamble needs to adopt your type of mindset no doubt. otherwise they'll be seeing the poor house

DaveF

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Quote from: zasad@ on March 30, 2024, 05:44:44 AM

The court verdict for SBF has already been made, and the nuances of American justice are of no interest to most readers.
Am I the only one who wonders what will happen to the Gary Potter fan(Caroline Ellison) and other participants in the fraudulent scheme, or will SBF be responsible for everything alone?

What an awesome story? Cry

https://www.firstpost.com/explainers/ftx-fraud-sam-bankman-fried-ex-caroline-ellison-testimony-alameda-research-ceo-13754095.html

The 1st to flip gets the best deal. The 2nd to flip gets a slightly worse one. What # in line was she to turn on him?
He will probably do 80% of the time so 20 years. A part of the problem is the lack of laws regarding this. The FRAUD was easy to come up with an amount of time.
The other side of running a scam exchange, the laws are murky there so.

As many lawyers have said, you don't go to court with the case you want you go with the case you have. The US system is based on innocent until PROVEN guilty.
From what I understand, the books were such a mess PROVING guilt was going to be difficult on some things. Knowing and proving are 2 different things.

https://www.youtube.com/watch?v=OZVYcpO6Mgk

-Dave

zasad@

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Quote from: larry_vw_1955 on March 31, 2024, 01:25:45 AM

Quote from: zasad@ on March 30, 2024, 05:44:44 AM

The court verdict for SBF has already been made, and the nuances of American justice are of no interest to most readers.

anyone that lost money in sam's little scam no matter where they live is interested in seeing him punished in full and also getting repaid, not just the fiat value of their coins at the time but the full fiat value of what their bitcoin is worth NOW. which is alot more but can never happen.

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Am I the only one who wonders what will happen to the Gary Potter fan(Caroline Ellison) and other participants in the fraudulent scheme, or will SBF be responsible for everything alone?

sam should be held resposible for EVERYTHING. clearly he wasn't. people will not be repaid in full not now not ever. even if bitcoin goes to $100,000. the only they could get paid back is if bitcoin went down to $1000. then sam could scoop it up cheap and repay all those people their bitcoin then...until he does that, i say keep him locked up.

Any investor who has lost their money in SBF's little scam should first think twice before making any further investments. A smart investor diversifies risks so that in the event of a scam, he does not lose all his capital. And if someone invests all-in, then SBF is not to blame. The idiot will still lose his money.
I lost some of my money because I diversified it into the Terra USD stablecoins of the Do Kwon project. But personally, I don't care whether Do Kwon is punished or not. I made bad decisions, so I don't hate Do Kwon.

larry_vw_1955

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Quote from: zasad@ on March 30, 2024, 05:44:44 AM

The court verdict for SBF has already been made, and the nuances of American justice are of no interest to most readers.

anyone that lost money in sam's little scam no matter where they live is interested in seeing him punished in full and also getting repaid, not just the fiat value of their coins at the time but the full fiat value of what their bitcoin is worth NOW. which is alot more but can never happen.

Quote

Am I the only one who wonders what will happen to the Gary Potter fan(Caroline Ellison) and other participants in the fraudulent scheme, or will SBF be responsible for everything alone?

sam should be held resposible for EVERYTHING. clearly he wasn't. people will not be repaid in full not now not ever. even if bitcoin goes to $100,000. the only they could get paid back is if bitcoin went down to $1000. then sam could scoop it up cheap and repay all those people their bitcoin then...until he does that, i say keep him locked up.

zasad@

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Quote from: larry_vw_1955 on March 29, 2024, 10:51:15 PM

Quote from: zasad@ on March 29, 2024, 04:01:02 AM

This suggests that the lawyers I know understand more about these nuances. To file an appeal, you need very serious circumstances and facts that have not yet been announced in court before. And in order to get out of prison for good behavior, you need to serve a certain period of time there. In Russia, this only works after a person has served 2/3 of his sentence.

so the jury did their part finding him guilty on all 7 counts and all the judge could do is slap him on the wrist. this justice system is a joke. pathetic judge. he didn't really take the jury's verdict seriously at all. thats one thing that is wrong with the justice system is how a judge can just overrride what the jury wants. because i am sure they wanted more than 25 years (12 with good behavior).

https://www.businessinsider.com/sam-bankman-fried-eating-disgusting-looking-beans-week-old-lettuce-2024-2

"Even though twelve out of every fourteen of Sam's weekly meals are just undercooked rice, a scoop of disgusting-looking beans and week-old brown lettuce, Sam has stayed true to his commitment to not participate in the maltreatment of animals," Simpson said in his letter.

but he didn't have any problems mistreating fellow human beings. if he really is vegan then he should be HAPPY to be getting rice and beans...that's what "vegans" eat Embarrassed

The court verdict for SBF has already been made, and the nuances of American justice are of no interest to most readers.
Am I the only one who wonders what will happen to the Gary Potter fan(Caroline Ellison) and other participants in the fraudulent scheme, or will SBF be responsible for everything alone?

What an awesome story? Cry

https://www.firstpost.com/explainers/ftx-fraud-sam-bankman-fried-ex-caroline-ellison-testimony-alameda-research-ceo-13754095.html

larry_vw_1955

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Quote from: zasad@ on March 29, 2024, 04:01:02 AM

This suggests that the lawyers I know understand more about these nuances. To file an appeal, you need very serious circumstances and facts that have not yet been announced in court before. And in order to get out of prison for good behavior, you need to serve a certain period of time there. In Russia, this only works after a person has served 2/3 of his sentence.

so the jury did their part finding him guilty on all 7 counts and all the judge could do is slap him on the wrist. this justice system is a joke. pathetic judge. he didn't really take the jury's verdict seriously at all. thats one thing that is wrong with the justice system is how a judge can just overrride what the jury wants. because i am sure they wanted more than 25 years (12 with good behavior).

https://www.businessinsider.com/sam-bankman-fried-eating-disgusting-looking-beans-week-old-lettuce-2024-2

"Even though twelve out of every fourteen of Sam's weekly meals are just undercooked rice, a scoop of disgusting-looking beans and week-old brown lettuce, Sam has stayed true to his commitment to not participate in the maltreatment of animals," Simpson said in his letter.

but he didn't have any problems mistreating fellow human beings. if he really is vegan then he should be HAPPY to be getting rice and beans...that's what "vegans" eat Embarrassed

zasad@

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Quote from: larry_vw_1955 on March 29, 2024, 02:23:08 AM

Quote from: zasad@ on March 28, 2024, 09:08:15 AM

I have read many opinions on this matter and my friends, lawyers in Europe, say that SBF will receive a long prison sentence, at least 20 years.

That estimate was close! Part of his sentencing should be if he appeals and loses it gets bumped up to 100 years WITHOUT the possibility of parole. He got a gift.

Quote from: Lucius

At least that was the penalty Ross Ulbricht was given and looking at the two, there is not much difference between their crimes so why does SBF get to be treated differently?

Because maybe SBF had alot of money to pay people. Now I'm not saying that he paid the judge off but I think this whole trial was just a formality.

This suggests that the lawyers I know understand more about these nuances. To file an appeal, you need very serious circumstances and facts that have not yet been announced in court before. And in order to get out of prison for good behavior, you need to serve a certain period of time there. In Russia, this only works after a person has served 2/3 of his sentence.

larry_vw_1955

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Quote from: zasad@ on March 28, 2024, 09:08:15 AM

I have read many opinions on this matter and my friends, lawyers in Europe, say that SBF will receive a long prison sentence, at least 20 years.

That estimate was close! Part of his sentencing should be if he appeals and loses it gets bumped up to 100 years WITHOUT the possibility of parole. He got a gift.

Quote from: Lucius

At least that was the penalty Ross Ulbricht was given and looking at the two, there is not much difference between their crimes so why does SBF get to be treated differently?

Because maybe SBF had alot of money to pay people. Now I'm not saying that he paid the judge off but I think this whole trial was just a formality.

Majestic-milf

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Quote from: Lucius on March 28, 2024, 12:18:37 PM

He got 25 years, for some it might be a lot, but I believe for the majority it's still too little considering that he will probably get out after serving 2/3 of his sentence, and maybe even before with good behavior and some other benefits of the US prison/justice system.

https://www.coindesk.com/policy/2024/03/28/sam-bankman-fried-ftx-sentencing/

I quite agree. I just see this as a slap on the wrist, because considering the gravity of the crime, he's supposed to serve longer, if possible be given a life sentence. At least that was the penalty Ross Ulbricht was given and looking at the two, there is not much difference between their crimes so why does SBF get to be treated differently?

Lucius

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He got 25 years, for some it might be a lot, but I believe for the majority it's still too little considering that he will probably get out after serving 2/3 of his sentence, and maybe even before with good behavior and some other benefits of the US prison/justice system.

https://www.coindesk.com/policy/2024/03/28/sam-bankman-fried-ftx-sentencing/

zasad@

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Quote from: larry_vw_1955 on March 28, 2024, 12:28:26 AM

I could really use some good news. Which would be Sam getting 100 years to life with no parole. But we all know that's not going to happen. He'll be out in 5 years...or 10. I hope not though! Angry

If they gave him 100 years, he could try and spend that time repaying everyone he scammed. and don't let him out until they all get repaid. that would be justice...

I have read many opinions on this matter and my friends, lawyers in Europe, say that SBF will receive a long prison sentence, at least 20 years. Lawyers have big disagreements only about CZ, but the trials will begin very soon. 8 billion dollars cannot be recovered from prisons. Of course, some of the assets will be returned, but not all.

larry_vw_1955

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Quote from: safar1980 on March 21, 2024, 09:20:35 AM

Sam Bankman-Fried deserves 40-50 years in prison for FTX fraud, prosecutors say
NEW YORK, March 15 (Reuters) - Sam Bankman-Fried should spend between 40 and 50 years in prison after being convicted for stealing $8 billion from customers of his now-bankrupt FTX cryptocurrency exchange, prosecutors said on Friday.
In November, a jury found Bankman-Fried, 32, guilty on seven counts of fraud and conspiracy. Federal prosecutors in Manhattan said "thousands of everyday people" including residents of war-torn and unstable countries had entrusted their nest eggs to FTX.

I could really use some good news. Which would be Sam getting 100 years to life with no parole. But we all know that's not going to happen. He'll be out in 5 years...or 10. I hope not though! Angry

If they gave him 100 years, he could try and spend that time repaying everyone he scammed. and don't let him out until they all get repaid. that would be justice...

safar1980

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Sam Bankman-Fried deserves 40-50 years in prison for FTX fraud, prosecutors say
NEW YORK, March 15 (Reuters) - Sam Bankman-Fried should spend between 40 and 50 years in prison after being convicted for stealing $8 billion from customers of his now-bankrupt FTX cryptocurrency exchange, prosecutors said on Friday.
In November, a jury found Bankman-Fried, 32, guilty on seven counts of fraud and conspiracy. Federal prosecutors in Manhattan said "thousands of everyday people" including residents of war-torn and unstable countries had entrusted their nest eggs to FTX.

zasad@

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https://www.theblock.co/post/279487/sbf-lawyers-prison-sentence
"The defense team of Sam Bankman-Fried, former CEO of fallen crypto exchange FTX, requested a U.S. court to consider a sentence in the range of 63 to 78 months, according to a Tuesday court filing.

“An appropriate method of arriving at a just sentence would be to consider the Adjusted Offense Level (Subtotal) of 56, reduced by 30 levels based on zero loss, which yields an advisory Guidelines range of 63-78 months,” the court filing said."

zasad@

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Quote from: NotATether on November 07, 2023, 05:41:26 AM

In case you didn't get the news, this guy has been convicted of all 7 counts of fraud by the jury, in a matter of... just a few hours.

How is it that all these rich and powerful people turned a blind eye towards not only the illegal activities he was doing, but also reputation risk that this guy would associate them with?

I guess if enough people do it, it's allowed to go under the rug by the media.

https://www.forbes.com/sites/antoniopequenoiv/2023/11/02/sam-bankman-fried-found-guilty-of-fraud-and-conspiracy/
"Bankman-Fried, 31, was found guilty of seven counts of fraud and conspiracy and faces a maximum possible sentence of up to 110 years in prison.
Jurors in Manhattan federal court returned the verdict after less than five hours of deliberation."

Anyone familiar with the American judicial system, explain how in 5 hours you can reach a verdict in a case where billions of dollars have been lost.

____
SBF gets used to prison
https://twitter.com/Cointelegraph/status/1728050840764547505
Convicted FTX founder Sam Bankman-Fried has gone from trading crypto to fish while behind bars and exchanged four packets of mackerel for a haircut before his criminal trial.

Bankman-Fried is sharing a cell at the Brooklyn prison with former Honduran President Juan Hernández and a former senior Mexican police officer, sources familiar with the matter told The Wall Street Journal."

I heard that the Brooklyn prison is not the best, although he may have a VIP cell.

NotATether

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In case you didn't get the news, this guy has been convicted of all 7 counts of fraud by the jury, in a matter of... just a few hours.

How is it that all these rich and powerful people turned a blind eye towards not only the illegal activities he was doing, but also reputation risk that this guy would associate them with?

I guess if enough people do it, it's allowed to go under the rug by the media.

zasad@

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Bloomberg releases film about SBF and FTX collapse
https://www.bloomberg.com/features/2023-ruin-ftx-documentary/
"RUIN is a feature documentary about Sam Bankman-Fried and the stunning collapse of his cryptocurrency exchange, FTX, as narrated by Bloomberg journalists and some of the central players in the rise of digital assets."
https://www.youtube.com/watch?v=3QpdU9LS540

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Quote from: Mr.suevie on October 25, 2023, 02:46:55 PM

which really pissed me off because so many people have been affected

SBF is just that unlikable.
Everything about this man makes you not like him.
He's so entitled and childish.
It feels like he doesn't regret doing it, just getting caught.
His parents are also entitled rich people with connections to politicics.
Even his voice and the way he avoids answering questions makes you want to punch him.

Imagine Sam in bed with a woman.
-did you enjoy it Sam?
-eee kind of
-yes or no?
-I'm on adderall and coke, so you know... I'm getting a pizza do you want some?
-is that a vegan pizza?
-probably... I'm alergic to everything but mom said I should get some carbs after sex

Now read that in Sam's voice Cheesy

Yes, that guy should be in jail. If he gets away with a slap on the wrist, you know the justice system in the US is done.

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Quote from: SamReomo on October 26, 2023, 10:19:57 AM

Quote from: sokani on October 26, 2023, 07:12:51 AM

Quote from: Mr.suevie on October 25, 2023, 02:46:55 PM

~Snip~

No one is walking free, It's a legal proceeding and it takes time. They had to gather evidence, present it to the court to see if it admissible and finally when proceeding starts, they've to bring all key witness to the stand for questioning before passing judgement. I'm not saying that the US judicial system does not have it flaws but it's still better than most parts of the world. It doesn't matter how connected SBF is to the present administration, I believe justice is going to be served at the end of the day and he's going to pay for his crimes.

I agree with you the US judicial system is still better than most judicial systems of the world and all legal proceedings take time and we all have to understand that. SBF will get punished for the things he has done to the victims of the FTX and for that we'll have to wait sometime. The US judicial system is known for its justice and surely justice will be done with the victims who were affected by FTX and lost so much of their savings. I believe that such cases take longer than normal cases because a lot of evidence is needed in order to take a final decision. I'm sure that FTX victims will get justice and SBF will reach his destination very soon.

Well am not sure that the US judicial system is as clean and effective as the way you are currently putting it to be but what can anyone do, it's just a matter of time and we all want the same thing which is for justice to be served but one major concern is the severity of the punishment given because I believe money can still buy you a lesser punishment after being judge and I pray that should not be the case of SBF.

zasad@

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Quote from: Ale88 on October 25, 2023, 08:48:09 PM

Quote from: Mr.suevie on October 25, 2023, 02:46:55 PM

this just makes me wonder if truly the system is actually working or are some folks actually bigger than the LAW?

I would go with the latter. Sam's family knows several politicians, and I'm pretty sure that someone put Sam in charge, let's be serious, do we really want to believe that this guy pretty much built all alone the second biggest cryptocurrency in the world in a few months, he got all the approval and permits that others couldn't get, etc etc just working hard? You don't become a multi-billionaire in a few months, of course there is way more behind this story.

I fully support this opinion. Sam Bankman Freed is an ordinary clown who was given a lot of money to hold. This saga should end after the elections, but for now the trials will drag on. I also said that not all cards are open in this criminal case and we will still see a lot of interesting information about internal relationships.

Fundamentals Of

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Quote from: NotATether on October 26, 2023, 04:20:49 AM

Quote from: AHOYBRAUSE on October 26, 2023, 04:07:41 AM

Quote from: Fundamentals Of on October 25, 2023, 09:46:16 PM

There is no perfect justice system. Every justice system is somehow corrupted. There's always a rotten part. We probably have all heard by now how SBF had been generous to powerful personalities especially politicians. And he was not only generous to the Democrats or the Republicans, he was generous to both. That's enough for us to assume that the soft treatment he's receiving right now despite all his crimes is the fruit of his generosity.

Still, that would not safe him from punishment.
Since this is a very public matter all his connections won't help SBR out of this dilemma.

With so many people being affected in this court case, millions and millions of private money gone, he won't get away with a light sentence, never ever will that happen.
He will sure have a nice federal prison cell with tennis court and stuff outside, but he will never leave this place again.

FTX's demise also screwed over very rich clientele - particularly other corporations. There is virtually no chance of SBF escaping jail time even with his family preparing an expensive legal defense for him, because these guys will lobby to the government and judicial system to imprison him for his financial crimes as a revenge for losing their money.

It's a blessing in disguise that FTX was so huge that when it crumbled down there were also rich, influential, and possibly powerful companies and people that went along with it. So it's not just retail users that became victims of SBF's crimes. And because of this, those rich companies and people would definitely be fighting tooth and nail for the millions that they've lost. Otherwise the resolution of this case would probably be more lenient with SBF.

Quote from: pinggoki on October 26, 2023, 05:13:35 AM

Quote from: Fundamentals Of on October 25, 2023, 09:46:16 PM

There is no perfect justice system. Every justice system is somehow corrupted. There's always a rotten part. We probably have all heard by now how SBF had been generous to powerful personalities especially politicians. And he was not only generous to the Democrats or the Republicans, he was generous to both. That's enough for us to assume that the soft treatment he's receiving right now despite all his crimes is the fruit of his generosity.

They're only rotten as we allow them to be, if the people that we put in those position are incorruptible then we will probably see a difference, yes there's no perfect justice system but I am sure that every country can create a decent, incorruptible and competent system, it's the people that don't have integrity that exist that's making these system corrupted. I didn't know about the part where SBF has sent gifts to these people of power on both sides, now that I know about it, I am sure that all of this is just a charade until things die down.

I don't know whether an incorruptible justice system is merely an idea or something that can be made in reality. What I know is that corruption in many forms is as old as humanity.

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Quote from: franky1 on October 25, 2023, 05:47:33 PM

Quote from: Mr.suevie on October 25, 2023, 02:46:55 PM

The justice system is really fucked up. I saw another update on the FXT scam court trial on SBF which really pissed me off because so many people have been affected and till date nothing has been effectively done to the recovery of these loses

SBF is not in-charge of FTX anymore. he filed bankruptcy and handed control to an administrator. so now its the administrators job to find the funds. and if you look at those reports it seems he has found alot of the funds..

as for SBF the trial against him is still in the middle(nearing end) no judgement can be made until the end and no sentencing hearing can be made until judgement. its a case of being patient and letting the trial play out

And what has those found and stolen funds been used for, to settle the judge so he could stay longer in jail?

Why is the sentencing taken too long, when they decided the pause withdrawals and seize users coins it didn't take this long .
All off the money gotten are being used by the exchange to solve matters arising for SBF. News like this is enough to tell people to avoid exchanges. There's enough low global economy instability facing another breakdown of exchange have not gone well.

|MINER|

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Quote from: Mr.suevie on October 25, 2023, 02:46:55 PM

The justice system is really fucked up. I saw another update on the FXT scam court trial on SBF which really pissed me off because so many people have been affected and till date nothing has been effectively done to the recovery of these loses and still yet the criminal mastermind himself is still walking free in terms of the appropriate justice for the whole saga and this just makes me wonder if truly the system is actually working or are some folks actually bigger than the LAW?

If the law is to be believed then I think we will see more of these activities for some time more. Initially when the ftx exchanger crashed and the law enforcement started by arresting SBF I thought that the ftx exchanger users would get justice soon. Although I don't know the inside news then it is natural that this news will create confusion among us but I will say that his matter is still going on in court so I think we have to wait for some more time to get justice. I hope these kinds of big whales will be punished one day.

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Quote from: Mr.suevie on October 25, 2023, 02:46:55 PM

The justice system is really fucked up. I saw another update on the FXT scam court trial on SBF which really pissed me off because so many people have been affected and till date nothing has been effectively done to the recovery of these loses and still yet the criminal mastermind himself is still walking free in terms of the appropriate justice for the whole saga and this just makes me wonder if truly the system is actually working or are some folks actually bigger than the LAW?

The lesson from FTX and SBF has already been learnt that it is never safe to store and safe bitcoins on an exchange. The victims should try to move on with the lessons learnt because recovery will only happen on a slim chance. I cannot say for sure that the justice system works all the time and in all cases, because sometimes the justice system favors the high and very connected and SBF seems to be in that category.

There is a halving coming, the best choice as someone who lost to SBF should be to pick themselves up, dust themselves and try to start gathering more bitcoins for next year, this time they can do it correctly.

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Quote from: serjent05 on October 25, 2023, 06:41:55 PM

The justice system is unfair. Those who have strong connections to influential people often escape the punishment. They are even living in a most convenient way. This kind of revelation is no news at all especially SBF is known for giving donations to some political parties.

I think this case will be dragged for years until people forget about the FTX scandal and by then we might found out SBF to acquitted from all the charges or if punished might be the lightest punishment the court can give.

There are justice systems that actually get paid, so that's probably what happened in SBF's case. But I'm not sure. It's just because of the connection he has and the amount of money he has that it's possible that he will be slapped with money right away, that is, name your price, which SBF can tell the judge handling his case.

Then I thought that the other funds of the customers who were victims of him before had been returned. That's not true; we can't really know what's true in the news these days.

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Quote from: sokani on October 26, 2023, 07:12:51 AM

Quote from: Mr.suevie on October 25, 2023, 02:46:55 PM

~Snip~

No one is walking free, It's a legal proceeding and it takes time. They had to gather evidence, present it to the court to see if it admissible and finally when proceeding starts, they've to bring all key witness to the stand for questioning before passing judgement. I'm not saying that the US judicial system does not have it flaws but it's still better than most parts of the world. It doesn't matter how connected SBF is to the present administration, I believe justice is going to be served at the end of the day and he's going to pay for his crimes.

I agree with you the US judicial system is still better than most judicial systems of the world and all legal proceedings take time and we all have to understand that. SBF will get punished for the things he has done to the victims of the FTX and for that we'll have to wait sometime. The US judicial system is known for its justice and surely justice will be done with the victims who were affected by FTX and lost so much of their savings. I believe that such cases take longer than normal cases because a lot of evidence is needed in order to take a final decision. I'm sure that FTX victims will get justice and SBF will reach his destination very soon.

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Quote from: Mr.suevie on October 25, 2023, 02:46:55 PM

The justice system is really fucked up. I saw another update on the FXT scam court trial on SBF which really pissed me off because so many people have been affected and till date nothing has been effectively done to the recovery of these loses and still yet the criminal mastermind himself is still walking free in terms of the appropriate justice for the whole saga and this just makes me wonder if truly the system is actually working or are some folks actually bigger than the LAW?
https://coinpedia.org/news/todays-kevin-cofsky-revelation-could-be-a-game-changer-for-ftx-2-0/

I know that American don't joke with her right to peace and freedom but the more I look at Sam Bankman, I feel that American judiciary are been soft on this nigga, they have taken people for granted knowing that the exit scam he pulled off wasn't only the US citizens that were affected, it was both the local exchange(FTX. US) and the global FTX that was drained but they are treating him like it was only the US that was affected. If it was a non US citizen that pull the scam, he will only be allow to drink water since the day he was extradited from Bahamas.

There are so many unanswered questions, why are they protecting his girlfriend Carolina Ellison, that girl has been into hidden from the public, he is been protect by God so knows who? Only a powerful people can do that despite when his male counterpart is been slowly paraded. When are we going to get justice for FTX customers that lost all their money? If they should relaunch FTX without providing answer to these questions, then the joke is on US judiciary.

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Quote from: Mr.suevie on October 25, 2023, 02:46:55 PM

The justice system is really fucked up. I saw another update on the FXT scam court trial on SBF which really pissed me off because so many people have been affected and till date nothing has been effectively done to the recovery of these loses and still yet the criminal mastermind himself is still walking free in terms of the appropriate justice for the whole saga and this just makes me wonder if truly the system is actually working or are some folks actually bigger than the LAW?
https://coinpedia.org/news/todays-kevin-cofsky-revelation-could-be-a-game-changer-for-ftx-2-0/

No one is walking free, It's a legal proceeding and it takes time. They had to gather evidence, present it to the court to see if it admissible and finally when proceeding starts, they've to bring all key witnesses to the stand for questioning before passing judgement. I'm not saying that the US judicial system does not have it flaws but it's still better than most parts of the world. It doesn't matter how connected SBF is to the present administration, I believe justice is going to be served at the end of the day and he's going to pay for his crimes.

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Quote from: dothebeats on October 25, 2023, 07:21:38 PM

Quote from: passwordnow on October 25, 2023, 06:55:33 PM

I don't think that there's still money left to recover from this thief. His family got involved with various assets acquisition and that's needed to be proved in the court but we all know where it came from. The only prize that every victim can get from this is for the verdict from the court that this guy should rot behind the bars. And next is the investigation on how his family got their wealth and hoping that they'll all be recovered, put up on sale or auction and the proceeds of it will be distributed to the victims even if they're not going to be that much. Because with that, there's gonna be the sense that it is visible that the justice system is working on them. But the sad thing is that, we're seeing the other way around.

And that is because SBF has managed to make connections with known people in the legal system and it seems all planned by him and how foresee the future with everything getting f*cked up with his plan. Every political system, there's corruption and that's sad when he's aware that everything is just all about under the table.

The guy is basically rubbing shoulders with prominent figures in the tech industry and politics. His parents are also somewhat known in the legal industry. As far as the justice system goes, this guy is kind of untouchable, unless those involved in the proceedings of his case grow a backbone and try to prosecute him and send him behind bars for a long time. He's very clever with making those donations and setting up those social events while he had the chance to. He gained a number of allies that helps him with this case. They'll just prolong this case until no noise can be heard anymore, and he may not be acquitted - but he'll surely the lowest sentence possible for his case.

If we're going to analyze all of his moves then we can see that there could have been planned connections already before everything was exposed. And based from that, everyone, he made all of us believed that he's a sort genius weirdo. Well, if there are known media or people that try to dig his case, the noise will be there but it is true that they might just lie low and stop making noise about him. As long as he stays there for his lifetime, that's what the people that he f*cked want even without all of the money that he should return because there's no more hope with that.

And let's just hope that whenever someone has the same style as his, they should be more careful and assess that charity or company that does it if they are for real or they up to something and trying to build their connections. I just hope that more of these institutions, politicians won't just be happy taking all of those donations and they'll also do their due diligence before acceptance although we know that it's hard to find the motives of a person at the beginning.

retreat

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That is today's modern justice system. You cannot punish someone until the judicial process is complete. Moreover, SBF's parents are legal people who understand US justice, of course they have lobbied many parties not to put their child behind bars until the judicial process is complete. That is the reality now and there is nothing we can do other than patiently wait for the verdict.

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Quote from: KiaKia on October 26, 2023, 05:21:18 AM

If SBF is going to get sentenced I promise you it will be in styles, he isn't going to face any hard punishment for everything he did, because of the people whom he helped and those who got his back

No doubt that SBF will be sentenced but after all privileges he got during his jail time that is absolutely better than others if they commit same scam activities like SBF. I am sure, so I agree with you, that SBF will get a softer sentence than any speculative, proposal sentence from community.

I only wonder and also I am curious to wait for what sentence he will get after all. Especially he lives in the USA, that is a nation with good Separations of Power but I believe laws will be bend to serve SBF. He will get benefit from it with a soft sentence.

KiaKia

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If SBF is going to get sentenced I promise you it will be in styles, he isn't going to face any hard punishment for everything he did, because of the people whom he helped and those who got his back, the reason why we are still bearing something about Him is because of the exposure mess he created, which could have been avoided if not for CZ, like they knew what CZ was planning behind and they feared it will greatly affect the whole crypto space.

There was a rumour that politicians are part of those who use the missing funds too, but if this is true it will never come to light, because some secret could be revealed, so even if SBF get jailed he will get paid for doing so, there is more to this man plan than we know.

He is surrounded by big people, from his parents and families down to those who benefited from the funds stolen from the exchange, justice could be served the way people hoped for but it won't get to SBF, because they will pretend they deal with him and do something else with him behind the camera.

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Quote from: Fundamentals Of on October 25, 2023, 09:46:16 PM

There is no perfect justice system. Every justice system is somehow corrupted. There's always a rotten part. We probably have all heard by now how SBF had been generous to powerful personalities especially politicians. And he was not only generous to the Democrats or the Republicans, he was generous to both. That's enough for us to assume that the soft treatment he's receiving right now despite all his crimes is the fruit of his generosity.

They're only rotten as we allow them to be, if the people that we put in those position are incorruptible then we will probably see a difference, yes there's no perfect justice system but I am sure that every country can create a decent, incorruptible and competent system, it's the people that don't have integrity that exist that's making these system corrupted. I didn't know about the part where SBF has sent gifts to these people of power on both sides, now that I know about it, I am sure that all of this is just a charade until things die down.

NotATether

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Quote from: AHOYBRAUSE on October 26, 2023, 04:07:41 AM

Quote from: Fundamentals Of on October 25, 2023, 09:46:16 PM

There is no perfect justice system. Every justice system is somehow corrupted. There's always a rotten part. We probably have all heard by now how SBF had been generous to powerful personalities especially politicians. And he was not only generous to the Democrats or the Republicans, he was generous to both. That's enough for us to assume that the soft treatment he's receiving right now despite all his crimes is the fruit of his generosity.

Still, that would not safe him from punishment.
Since this is a very public matter all his connections won't help SBR out of this dilemma.

With so many people being affected in this court case, millions and millions of private money gone, he won't get away with a light sentence, never ever will that happen.
He will sure have a nice federal prison cell with tennis court and stuff outside, but he will never leave this place again.

FTX's demise also screwed over very rich clientele - particularly other corporations. There is virtually no chance of SBF escaping jail time even with his family preparing an expensive legal defense for him, because these guys will lobby to the government and judicial system to imprison him for his financial crimes as a revenge for losing their money.

AHOYBRAUSE

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Quote from: Fundamentals Of on October 25, 2023, 09:46:16 PM

There is no perfect justice system. Every justice system is somehow corrupted. There's always a rotten part. We probably have all heard by now how SBF had been generous to powerful personalities especially politicians. And he was not only generous to the Democrats or the Republicans, he was generous to both. That's enough for us to assume that the soft treatment he's receiving right now despite all his crimes is the fruit of his generosity.

Still, that would not safe him from punishment.
Since this is a very public matter all his connections won't help SBR out of this dilemma.

With so many people being affected in this court case, millions and millions of private money gone, he won't get away with a light sentence, never ever will that happen.
He will sure have a nice federal prison cell with tennis court and stuff outside, but he will never leave this place again.

SquirrelJulietGarden

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Quote from: adaseb on October 26, 2023, 12:59:22 AM

If I am correct he goes on the stand tomorrow. He will interesting how he will answer all these questions. He will probably be on the stand for another day because he is considered the most important individual in this trial.

I am not sure what will he say and answer all questions against his scam activities.

Because many days so far, his lawyers admitted all accusations against him and I am so surprising and wondering what are their strategies to defend Sam Bankman-Fried by admitting all accusations like this.

I don't think he will not much things to say to defend himself because it's big different than months ago, now there are more people from FTX and Alameda Research, are accepting to be witnesses against him at the court.

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If I am correct he goes on the stand tomorrow. He will interesting how he will answer all these questions. He will probably be on the stand for another day because he is considered the most important individual in this trial.

Will people get their money back? Who knows but now they are buying claims at $0.50 which is pretty good. Means that there is a good chance that people will get back close to 75% if they wait long enough.

Fundamentals Of

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There is no perfect justice system. Every justice system is somehow corrupted. There's always a rotten part. We probably have all heard by now how SBF had been generous to powerful personalities especially politicians. And he was not only generous to the Democrats or the Republicans, he was generous to both. That's enough for us to assume that the soft treatment he's receiving right now despite all his crimes is the fruit of his generosity.

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Sam Bankman-Fried set up and operate one of biggest scams in history and he still enjoys his life after that. Many people lost money, their life savings by SBF scam and I believe among those victims, maybe some people decided to do some terrible things like suicide, whatever it is not good at all.

They don't deserve that while SBF is still enjoying his life, again enjoying his life, playing games, ... The scam man must be punished at very expensive cost and even so he can not bring money back to all of his victims. If those victims made suicides, dead, any sentence on SBF from now on will not mean anything for those victims and their families.

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Quote from: Mr.suevie on October 25, 2023, 02:46:55 PM

this just makes me wonder if truly the system is actually working or are some folks actually bigger than the LAW?

I would go with the latter. Sam's family knows several politicians, and I'm pretty sure that someone put Sam in charge, let's be serious, do we really want to believe that this guy pretty much built all alone the second biggest cryptocurrency in the world in a few months, he got all the approval and permits that others couldn't get, etc etc just working hard? You don't become a multi-billionaire in a few months, of course there is way more behind this story.

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Quote from: franky1 on October 25, 2023, 05:47:33 PM

as for SBF the trial against him is still in the middle(nearing end) no judgement can be made until the end and no sentencing hearing can be made until judgement. its a case of being patient and letting the trial play out

He'll most likely get a slap on the wrist compared to what he deserves. At worst for him he'll serve a few years in prison. Or maybe there won't be any jail time at all. Every adult person should know that the law does not apply in its full force to the rich and the influential. It's the poor who can be imprisoned for years for stealing $100, but the rich always deserve a second chance and deserve pity because of their circumstances lol.

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Quote from: passwordnow on October 25, 2023, 06:55:33 PM

I don't think that there's still money left to recover from this thief. His family got involved with various assets acquisition and that's needed to be proved in the court but we all know where it came from. The only prize that every victim can get from this is for the verdict from the court that this guy should rot behind the bars. And next is the investigation on how his family got their wealth and hoping that they'll all be recovered, put up on sale or auction and the proceeds of it will be distributed to the victims even if they're not going to be that much. Because with that, there's gonna be the sense that it is visible that the justice system is working on them. But the sad thing is that, we're seeing the other way around.

And that is because SBF has managed to make connections with known people in the legal system and it seems all planned by him and how foresee the future with everything getting f*cked up with his plan. Every political system, there's corruption and that's sad when he's aware that everything is just all about under the table.

The guy is basically rubbing shoulders with prominent figures in the tech industry and politics. His parents are also somewhat known in the legal industry. As far as the justice system goes, this guy is kind of untouchable, unless those involved in the proceedings of his case grow a backbone and try to prosecute him and send him behind bars for a long time. He's very clever with making those donations and setting up those social events while he had the chance to. He gained a number of allies that helps him with this case. They'll just prolong this case until no noise can be heard anymore, and he may not be acquitted - but he'll surely the lowest sentence possible for his case.

n00ber

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Quote from: serjent05 on October 25, 2023, 06:41:55 PM

The justice system is unfair. Those who have strong connections to influential people often escape the punishment. They are even living in a most convenient way. This kind of revelation is no news at all especially SBF is known for giving donations to some political parties.

I think this case will be dragged for years until people forget about the FTX scandal and by then we might found out SBF to acquitted from all the charges or if punished might be the lightest punishment the court can give.

That is the power of money and his wisdom in carefully preparing relationships with politicians. The world has never been fair, especially when it comes to centralized systems and leaders. Personally, I wouldn't be surprised if SBF got away with it or received a lighter prison sentence. But I want to ask, we always want freedom, always oppose the government for our right to privacy, but why are we now being scammed by the SBF and need the government? If we want to be free, free from management and control, we need to protect ourselves and that is the price of freedom.

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I don't think that there's still money left to recover from this thief. His family got involved with various assets acquisition and that's needed to be proved in the court but we all know where it came from. The only prize that every victim can get from this is for the verdict from the court that this guy should rot behind the bars. And next is the investigation on how his family got their wealth and hoping that they'll all be recovered, put up on sale or auction and the proceeds of it will be distributed to the victims even if they're not going to be that much. Because with that, there's gonna be the sense that it is visible that the justice system is working on them. But the sad thing is that, we're seeing the other way around.

And that is because SBF has managed to make connections with known people in the legal system and it seems all planned by him and how foresee the future with everything getting f*cked up with his plan. Every political system, there's corruption and that's sad when he's aware that everything is just all about under the table.

serjent05

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The justice system is unfair. Those who have strong connections to influential people often escape the punishment. They are even living in a most convenient way. This kind of revelation is no news at all especially SBF is known for giving donations to some political parties.

I think this case will be dragged for years until people forget about the FTX scandal and by then we might found out SBF to acquitted from all the charges or if punished might be the lightest punishment the court can give.

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Quote from: Mr.suevie on October 25, 2023, 02:46:55 PM

The justice system is really fucked up. I saw another update on the FXT scam court trial on SBF which really pissed me off because so many people have been affected and till date nothing has been effectively done to the recovery of these loses and still yet the criminal mastermind himself is still walking free in terms of the appropriate justice for the whole saga and this just makes me wonder if truly the system is actually working or are some folks actually bigger than the LAW?
https://coinpedia.org/news/todays-kevin-cofsky-revelation-could-be-a-game-changer-for-ftx-2-0/

Don't get upset on that situation since there's no final verdict has been drop since for now even SBF got away for the crime he does then provably in future once they find more solid evidence of the crime he do for sure this guy will get a huge sentence that eh can't escape. Maybe some are really disappointed on how justice system works but we still need to trust them how they gonna role this case out and for sure they also want this guy to be in jailed because the amount affected to all users globally is so huge and authorities want to serve justice to them.

The case still rolling so we shouldn't get angry to the personnel working on this case and the only thing we can do for now is to follow the case then hopefully people will find a justice to those scamming incidents made by SBF to them.

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Quote from: panganib999 on October 25, 2023, 05:57:00 PM

Doesn't make him any less accountable for all the stupid actions he made against the people. It's not like handing over those responsibilities also warranted him no further obligations against the justice system nor the people who he committed these crimes against. Also, it's nearing the end but we're seeing glimpses of him being behind bars, all those stupid shit he's been committing while on trial (the request for drugs so he can "behave better", the leaks of his conversations that revealed his "altruistic lifestyle" was nothing but a front to the press. And the judges being very indignant about putting him behind bars despite his "altruistic actions" like providing money for charity lol).

yes he stole lots of funds but technically he has not risked life or limb of his victims so he is not "of harm to the community" to be jailed/restrained from public... though he is on tag with curfew and told to stay at residence during trial. so not completely free

the judge cannot put him behind bars(prison) until trial judgement= takes time, be patient
the judge cant also deny him certain rights (time to speak with lawyers, gather defense, get medication, eat) else that can cause things like a mistrial.
they are doing things by the book to ensure there are no ways to drop the trial, so that the trial goes through the full process..

we waited nearly a year for the trial... a few more weeks isnt gonna hurt

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Quote from: franky1 on October 25, 2023, 05:47:33 PM

Quote from: Mr.suevie on October 25, 2023, 02:46:55 PM

The justice system is really fucked up. I saw another update on the FXT scam court trial on SBF which really pissed me off because so many people have been affected and till date nothing has been effectively done to the recovery of these loses

SBF is not in-charge of FTX anymore. he filed bankruptcy and handed control to an administrator. so now its the administrators job to find the funds. and if you look at those reports it seems he has found alot of the funds..

as for SBF the trial against him is still in the middle(nearing end) no judgement can be made until the end and no sentencing hearing can be made until judgement. its a case of being patient and letting the trial play out

Doesn't make him any less accountable for all the stupid actions he made against the people. It's not like handing over those responsibilities also warranted him no further obligations against the justice system nor the people who he committed these crimes against. Also, it's nearing the end but we're seeing glimpses of him being behind bars, all those stupid shit he's been committing while on trial (the request for drugs so he can "behave better", the leaks of his conversations that revealed his "altruistic lifestyle" was nothing but a front to the press. And the judges being very indignant about putting him behind bars despite his "altruistic actions" like providing money for charity lol).

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Quote from: Mr.suevie on October 25, 2023, 02:46:55 PM

The justice system is really fucked up. I saw another update on the FXT scam court trial on SBF which really pissed me off because so many people have been affected and till date nothing has been effectively done to the recovery of these loses

SBF is not in-charge of FTX anymore. he filed bankruptcy and handed control to an administrator. so now its the administrators job to find the funds. and if you look at those reports it seems he has found alot of the funds..

as for SBF the trial against him is still in the middle(nearing end) no judgement can be made until the end and no sentencing hearing can be made until judgement. its a case of being patient and letting the trial play out

Mr.suevie

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The justice system is really fucked up. I saw another update on the FXT scam court trial on SBF which really pissed me off because so many people have been affected and till date nothing has been effectively done to the recovery of these loses and still yet the criminal mastermind himself is still walking free in terms of the appropriate justice for the whole saga and this just makes me wonder if truly the system is actually working or are some folks actually bigger than the LAW?
https://coinpedia.org/news/todays-kevin-cofsky-revelation-could-be-a-game-changer-for-ftx-2-0/

Topic: Pending justice for SBF (Read 722 times)