Topic: SBF, arrested! - page 3. (Read 1002 times)

Either he gets away from this because he had people paid from government position or he still gets punished only with a slap on the wrist. Twitter is a warzone with this news.  

But there were also people like the activist Alexandria Ocasio-Cortez (AOC) asking about the timing of the SBF arrest. If something could happen, since a conspiracy theorist already sees SBF as the fall guy, SBF could just die unexpectedly. And then there's Kevin blaming Binance the cause of the FTX collapse is on the way also. CZ intentionally put FTX out of business 

That's very surprising and also good news that because the people who are fraud and also SBF made whole Market crash. He got so much money from investors and also than just Scammed with them. Now he is arrested and it is a lesson for those who cheat at a big level. And that's why these types of people should be punished. I think that if this man was in another country rather than IS, Than he might not have be caught.

"It's the risk if anyone leave their coins on centralized exchange and it's their right if they use customers money for investment or other thing to make more money, even banks did that" .. actually banks DO that.  It's called fractional reserve banking and the great crash of 2008 proved how and why this can be a very dangerous proposition.  SBF is yet another example of why this practice should be minimized. 

The guys also did countless amounts of lying and deceiving, so it's not like he didn't do anything wrong, because he certainly did. 

But this time he is fighting people around the world who are demanding justice. Everyone was watching, and it was enough to risk the reputation of the court if the decision was judged to be a mitigating sentence for SBF.

By the way, the maximum sentence preference for SBF is already known. Young enough to live the rest of life in prison.

The Government has done what has been long awaited of them to do since after FTX collapse, the government through the security and exchange commission bring and arrest Sam bank Man Fried to answer some question and face the law because no one is above the law.
The Sec need to step up their games in protecting every investor out there without this kind of delays in the future.

In general this is good for the entire crypto industry, and also will bring confidence to investors that invested in FXT and other cryptos that judgment is finally in.

I'm not sure if this will help the people to recover their loss, but I don't think the govs care about this because people were making a high-risk investment, so, maybe for them is all gone and this jail move is to bring some justice and prove how there are huge consequences on crypto scams.

This time was a half-win for the justice, now let's hope to see soon a recover plan for the investors.

not complete, in full
but the current administrator (ceo) has found atleast $1b of the $8bill hole. so expect at most so far 10cent on the dollar after lawyer/admin syphons, oops i mean consultation fees

oh and also expect the gratuitous "for the benefit of maximising returns" 3-4 year delay of waiting for the next halving cycle before pay out.. to have the values in dollar amounts multiply to then maximise returns

It's a good thing he was arrested so that others know they can't skip after committing a crime on crypto. Unfortunately, users are unlikely to receive their funds back. Because in the past, we have very rarely seen end users benefit from such an incident. Arresting a criminal does not guarantee that the funds will be recovered. A thorough investigation into where the funds were moved is required. I hope the positive and end users get justice.

i dont think SBF will be given an 'epstien neck tie'
epstein had no kids or wife or parents to care about him.

SBF has devoted parents. so SBF will do deals to reduce/avoid his sentence

I even imagine SBF being treated as a VIP in his cellar or maybe he is already in his house playing games.  Whatever, I think he is being taken care of.

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Yeah, money is the most powerful ally in this corrupt government.  Even influential politicians bow down to money and the blindfolded justice system even doubles its blindfold if money waves.  Even though there are lots of people who lose money, the corrupt official doesn't care as long as they are fed with what they wanted - money.

value at post today of the 195,869,337 FTT transfer last month is today $274m
so yea not really worth even trying to sell as just selling off that amount would crash the market and make them worth less than that to cash out..

days/weeks before his arrest SBF was hoping  that FTT would ATH again at a 20x of transfer dated price ($400m) to make value of assets in bahama custody $8b

of course it wont happen even at a 30x of today to get a $8b  value of the 195m coins.. that still wont net the bahama gov $8b because as soon as they sale them it would crash the ATH

That is often the case that happens for someone who is rich like for example when a politician is arrested. Later on there will be a follow up report on what they are doing inside the cell and the public will see how good their life is.

I think the same thing can also happen with SBF even though it is known that his company have bankrupt but we never know what if he already hide some money before for his personal use. He also helped some government financially so this guy have some special treatment. SBF is obviously knowledgeable and knows how to manage a business because if not then he won't grow his company but the problem is he got greedy. That is why his empire collapsed.

If Mr.Ray only has $1 billion in funds, of course, there is still quite a lot that must be replaced. But hopefully, more assets will be found.
SBF also definitely has more funds in the form of assets, all of that must be investigated.

Regarding the FTT token, it will only be a garbage token. Even though it looks like it's still being traded, the price is also not worth it and many are being delisted by several centralized exchanges. Hoping to go up, it's still a difficult thing. Many people no longer believe in the FTT token and think it's just trash like what happened to the LUNA Token.

It's going to be a pretty long case if FTX doesn't get the $6-7 billion to replace the hole.

Any misconduct must always be held accountable. It turns out that Sam Bankman will be brought to justice before the court. It is not known how the trial will turn out and whether he will be able to get out of the well-deserved punishment. Users who have lost money must be happy about this event, but will they be able to be happy about the return of their deposits. That is still unknown. Because it is also not known whether Sam Bankman will be able to fulfill his debt obligations and return the money to the FTX's users. As you know, transactions were made for very large amounts, sent in an unknown direction. Whether it will be possible to return them, again, is not known.

the new administrator of FTX (mr ray) is still investigating the inner workings of ftx. and trying to find all assets.

but so far Mr ray only has hands on about $1b of funds out of a possible $7-8b hole

there is the LedgerX platform which is solvent and can be sold.

as well
the 48 hours of filing bankruptcy. SBF and another employee moved out alot of FTT token and some other assets to a custody of the bahama authorities(and maybe his own wallet)

these FTT tokens are still being traded on other exchanges so they still have value. and SBF was 'hoping' it would be a nice collateral for the bahama authorities to hold as a possible repayment amount to victims should FTT go up in price enough to cover losses (of the FTX.com(international) customers)

though i doubt the ledgerX value + FTT bahama held tokens will amount to the missing $6-7b

It will be another disaster, when SBF kills himself he will not be held accountable for his crimes anymore.
As you said, it will be difficult to recover the losses of FTX victims.

But does SBF still have other assets to be able to compensate the victims, and will the other perpetrators also be investigated in relation to this case?
I feel sorry for the many victims who have a lot of assets in FTX and whose losses still can't be recovered.

You have point but they should have charged him to court, given some conditions and a time span to refund the loss of the people. Putting him in jail now may not give/allow him to have the right thinking and also do things that will make him refund the people their money since SBF is good in arbitrage trading.
@serjent05
Do you believe SBF will rot in jail when he purposely spends some of the money on political activities in the US so they could rub his back when he gets into trouble like this? He might even be at his apartment drinking coffee now.
I think what the people who lose their funds in the FTX issue needed right now is the jury putting SBF in the condition that will make him pay the money not jailing him which I believe is another way of them not making him refund the money.

@Oilacris
I read that his (SBF) bailout was rejected yesterday and for the years he will spend behind bars we don't know yet but I'm sure what common people that were affected by the FTX issue want is a refund of their loss.
I hope the jury do what will favor the common man.
@AmoreJaz
Yes, he can disappear if he wants but he will only make things worse for himself and his family. It is better he man up in this situation than disappearance. I also believe he has some plan and if he doesn't the lawyer he hired would have given him the best plan since he once won a case against the US SEC.

I still don't believe all of this until the court has a final verdict on him. I still suspect all of this was created just to satisfy the public because what he has done to the community is terrible. If they do not act, people will lose faith in the government as well as the law, so they will try to find some way to reassure public opinion and affirm that the law will punish everyone without exception. I also believe that SBF will not be punished too severely, let's continue to see how this drama will end.

Yeah good, that's what everyone wants to happen. Everyone wants justice.
This is also hoped for by New York Democrat Alexandria Ocasio-Cortez, who said:




https://twitter.com/AOC/status/1602470171364712449

That's a good start, but let's hope the end is good too, because I heard a few days ago that Sam Bankman Fred hired Mark S. Cohen, Ghislaine Maxwell's defense attorney.


https://nypost.com/2022/12/07/ftxs-sam-bankman-fried-just-hired-ghislaine-maxwells-defense-attorney/

This lawyer, I think, has a dirty record and defends dishonest cases, so no one knows what the case will turn out to be.

I hope the end will be happy and justice will be served.

There are a lot of private jails in the US. Even if Sam Bankman-Fried really gets into jail, I think he will spend his sentence comfortably. 1000% he wont be spending his sentence with murderers, drug addicted or other dangerous criminals. He will spend several years with similar criminals, that committed financial crimes. Besides, Sams parents are not the last persons in the US. I am sure he will get help from them, shorter sentence and will get out ahead of time. And it all will end with him getting "easy" punishment and he by end he would say everyone that he had served sentence and is not guilty anymore.