Topic: Sam Bankman Fried (scam banker fraud) 25 years (Read 786 times)

The 25-year sentencing sends a strong message: crypto scams won't go unpunished. Justice prevails.

technically everyone knows if you put a clause in a service agreement terms that mentions "you can also lose your investment aswell as gain" it sets customers minds up to realise they can be left with nothing, which fund managers can then use and abuse that statement for managers profit but customers loses.. however he didnt also include the clause "we will co-mingle/use customers funds for internal use" which would have protected him more... yep thats right a business can set its own standards of how it uses customers funds and get away with alot and it would become completely legal to do so.. but, SBF didnt set up the services terms and conditions to protect him further

He looks like a very shy guy at the party taking a photo with extrovert friends

There is a news about Sam, read this: Sam Bankman-Fried speaks out after sentencing: ‘I never thought what I was doing was illegal’.
Isn't it really funny? Guy says that he didn't have any idea about whether what he was doing was legal or illegal. He didn't ever intend to harm anyone, it wasn't his wish and how he feels haunted every day. He is a pathological liar. 25 years is too small for the loss that many people experienced because of his actions but if people that we see in photos are his inmates, then he will have an interesting time in prison. He might think about what he did and what mistakes he made, what was the cost of his debt.

Sharing my sentiments regarding his jail time, pretty sure he deserves at least 50 at most, but I'm no law graduate nor a law student so I don't really know anything about the stipulations and all that shit. I'm just happy to see him rot in jail. Pretty sure the girlfriend who looked like that one character from Ice Age deserves her own set of jail time as well, but I'm guessing she's using SBF as a scapegoat so she can get away with the crime scot-free, even though she was an active accomplice and there were evidences of her being actively involved in the massive crime these two fucks and the sham of a company they created did.

As for being able to found his or be an executive for companies in the future, I would also like him to be barred from ever having a business ever again, and as much as that's fucked up I think he deserves it. If we can bar people from having access to the internet for even less, then maybe scammers like these shouldn't be allowed to set up their own business, nor use their infamy or likeness in the future to paint a narrative that would support yet another business venture they can use to scam people.

Finally happy that he's fucking one already, but this is just the start in cracking down against people who would think of crypto as a way to make money illegally. I once again share your sentiment, they are not exempt from the law.

There is a name of the source, so you could check it - but as far as I know, it was published by a journalist whose name is listed as a source, and who supposedly has very good connections. The picture was published a few months ago, and supposedly the journalist was making a documentary in which one of the main characters is this guy whose face is not blurred.

Whether Bankman was in the picture by chance or not remains a question, but according to everything I have read, it is an original photo.

He should be thankful that he is not in Russia. If he was in Russia, they would beat the hell out of him like they publicly did with crocus terrorists (I hope they caught real terrorists and not just random people). It's also curious but in Russia, people like him are often found dead, sometimes they accidentally fall out of the window or their airplane crashes. Yes, I know that's crazy but these strange things accidentally happen only in Russia.
By the way, if I was Norwegian and would spend time in Norwegian prison, I would probably wish to be in his shoes

Is that a real picture? Or a result of photoshop? I mean, how are those dudes so buffed up in prison, do they really eat lean meat, high protein / low carb diet?
By the way, was it really worth for Sam to do this for money? Look at his face, his every second will be a nightmare in that prison. No money worth for such a terrible experience that will last for years, Sam.

This kind of people really need to be punished they deserved it, and not just this person but those person that is also doing wrong like scamming or taking advantage of those people who is not that illiterate in crypto currency, but sad reality not all people or organizations that scam people can be discovered or sued because some is being protected by authority or they are using authority to cover their nasty doings, I hope not just in crypto field but also in other aspect in society, those scammers or people who is committing fraud should be punshied fairly and deserved to be locked down in prison for too long. I once become a victim of scammers in crypto currency and I trusted those people but they are heartless and will never listen to what you will say even you said that money is hard earned and has something important to do.

saying he was into charity. but then giving none = something wrong
saying he was into charity. but then using other peoples money to buy HIMSELF and PARENTS extra houses (note they were not homeless) is something wrong

as for him and the other altruists that claim they want to give away 95% of their wealth. .. when you look at their funding, they dont actually give away their wealth to poor/homeless/minority/disabled services(real charity stuff).., they just tax dodge to spend wealth on themselves and between themselves for other profitable projects each other has. to avoid tax

what they do is they set up a trust/foundation declared as a charity(but with no front line goodwill service) and when they make [lets say] $10billion they put 9.5b into the trust and not give it to actual charity. they instead call THEIR trust a charity/foundation and then invest that money to accumulate more. and they then take out their own management and business costs from that trust as ongoing services, and also personal expenses usually in the form of personal unconditioned loans to themselves so its tax free..(loans with no repayment plan are still loans. and loans are non taxable)

its basically a way to skirt around taxes whilst dangling a carrot around with empty promises of future charity.
and when it comes to "charity" its not real front line services to help the people in need. its instead "fundraising" and "donations" to other elite peoples foundation trusts they set up. so its just a money shuffle amongst the elites

just look at all the gala events and balls and auctions and such. when people pay $10k a seat. that is not a true charity donation.. thats just a tax write-off to shuffle money to their rich buddies foundation
welcome to laundering 2.0

I've come through this video Nas Daily Sam Fried Bankman interview. Watching this video, no one will find anything wrong with him. The beginning of the video begins with his thoughts of charity and doing good to the people. I think getting more and more money had deviated his thoughts, and he finally got this punishment. This needs to be a learning experience. So that no one will think of making money out of the poor people's hard earnings.

Its sucks Children of such people are also like that. That is, all this blame goes to the training of his parents that they did not train their son that it is not a good thing to cheat poor people and steal their funds and then lie in the court hearing. These people feel sorry for their children but not for these poor people, they were also the children of a mother, their parents must have been sad when their funds were stolen. Or their children committed suicide after losing funds.

25 years is a really big sentence. While I agree that prison time is needed to discourage others from committing similar crimes, I think financial punishment (huge fines, confiscation of assets) and financial reimbursement of victims is way more important in such crimes. After all, it's a non-violent crime, and forcing SBF to give his wealth away would be both useful and a good punishment, in my opinion. If there's a lot of real damage to the victims (mental health), it can be accounted for, and it can contribute to some prison time. But the news I've seen focus on prison time and don't mention financial consequences.

Let's not get too imaginative and optimistic about what his fate will he get in prison, I think that the US prisons are always a brutal one which means that he's definitely going to get the same treatment and that thing about him having money means that he's going to be a target of a lot of extortions on the prison, that they're going to do what they do with new guys in prison, it's not a surprising thing for them to also extort these people. If I was the prisoner and I've been presented the opportunity to easily extort money from someone, it's probably an opportunity that I'm going to take, it's a no-brainer and I really don't like the imagination that he'd get off easy on this one, this man is still a criminal and a heinous one at that, just imagine the lives that he's ruined running away and stealing those money from the exchange, and with all that depravity that you've talked about, it's a disservice to wish this man a lighter consequence to his crimes.

Yep Boss, you said right, but maybe you didn't read out the whole article, right, The first one in it is the story of an Indian boy who committed suicide by losing funds, but boss, if you go down to the article in this link at the end of the article, you will be able to see it clearly. A boy resident of Eastern England has given a report on iNews in which he has regularly criticized his friend, saying that I myself lost $10,000 and my friend also lost funds in the same way, and after that he thought about committing suicide.
 
Apart from this, I also provide you with another link in which the incidents related to FTX are recorded, meaning the stories of the affected people have been reported.
https://amp.theguardian.com/technology/2022/nov/19/the-money-is-gone-people-who-lost-out-in-ftxs-collapse

I love how he was treated fairly, height even do 15 years and would be reconsider, that's if the judges want to look at what he has done positively in the past and what his parent has done to help the United state. This sentencing will send a big message across the crypto space especially the so called scammers looking for opportunity to scam victims of their money, the government might not really like how things are been done here but they definitely watching and would used anyone as a scape goat to teach others some lessons.

As for the other scammers that don't care and feel they can continue to hide, there is nothing under the shadow that the sun will not see, nothing is anonymous in crypto, there is going to be an end user who will used that coin and will be traceable back to the origin of the scam and such person will be pick up without much stress. Even other centralized exchanges that are doing the same thing SBF has done would be afraid to continue henceforth.

You personally knew people that killed themselves over loosing money via FTX fiasco?


In the link you shared there is no mention of anything related to FTX/SBF causing suicides and instead tells a story of Indian student who decided to kill himself over $4200 he lost in some ponzi scheme. And no, he and anyone else who killed themsleves wasn't forced into it.

Either he gets lucky and these guys decide that he's a walking bag of money and it's more profitable for them to befriend him than make him their b***h, or they just treat him like the awkward, childish guy that he is and make him a slave who does the laundry, cleans the cell, sucks c**** and all that. I really hope gets the second option because I have no respect for the guy, even though I had no money on FTX. I understand what people who lost money had to go through because that guy wanted to fuck his girlfriend on a terrace overlooking the Bahamas marina. If you don't know what I'm talking about google SBF Orchid penthouse. The guy literally bought a 35 million dollar apartment because he wanted to fuck looking at expensive boats.

Oh, mate! 
 
Let me tell you about this, I know a lot of people who have lost their lives due to the FTX collapse.
I feel so sucky when I read their story. How hard these poor people had earned money and invested in crypto by trusting FTX, but Bankmen did great cruelty and robbed the poor. 
 
There were many people who committed suicide and lost their lives over the FTX collapse.
In the below source, you can see how many people were forced to commit suicide by FTX, i.e., Bankman.

https://cryptopotato.com/indian-student-committed-suicide-after-becoming-a-victim-to-a-bitcoin-scam-report/?amp

I'm laughing my ass off right now with that picture, that can't be the same dude that was attending the court wearing those swanky suits, that guy looks disheveled as the word disheveled can be, there's no way that he'll survive that long in that prison. I'm not speculating but he's either going to die there or as you've said he's going to be one of those inmates that would become a slave of the other inmates, no way around it, I hope that running away with the money was well worth it because that's the price that he's going to pay, such a sad thing though that he's the only one that's getting the bad luck, he's got a lot of accomplice don't he?

Whether 25 or 100 years is ultimately irrelevant. His life is messed up and it's his own fault. I feel more sorry for the many people who have lost a lot of money through his scam. I wasn't affected myself, as FTX was rather suspicious right from the start to me. However, I know someone from my circle of acquaintances who lost crypto worth 160k euros. He only invested 12k of it himself (so the actual loss is limited), but these cryptos had risen sharply in recent years and he wanted to buy a house in the near future for his young family. This dream is dead now.

I mean what do you expect a parent to say? It's good that their son is going to jail? That's not going to happen, at least not frequently, the most common response would always be denying that your child commit the crimes people claim he did, and just figure out a way in your brain to make sure that he is innocent and it is something else to blame for whatever happened. It could be the market, it could be other investments, it could be bad friends, whatever it is, it's never their son.

However, court doesn't care about any of that, they check the evidence and it showed that he did something stupid, he could have been a very wealthy man if he kept going the good and legal route, he wanted more and that's why he is having all of this trouble.