Topic: SBF-Denies Improper use of Customer Funds in a 1 on 1 Interview (Read 535 times)

Well now the parents of SBF want the lawsuit against them to be dropped. His parents Joseph Bankman and Barbara Fried are Stanford Law School professors.

And they are denying any involvement with the fraud against their son SBF. https://www.theblock.co/post/273043/sbf-parents-dismiss-ftx-lawsuit

SBF subverted an inconcievable amount of money into the Democratic party the deed has already been done and surely his money helped their cause. I only hope that people will have enough sense not to vote for someone that doens't want anything good for their own country. It truly is a shame what is happening in America.

Do you really think that Democrat or any political party will risk their vote for just one man, more than that that, SBF has lost all of his leverage. Not to mention that next year is election year. I don't know whether the general public is paying attention to the FTX case, but Democrat will definitely seize every vote they can get, and getting involved with SBF at this time is bad decision, they will always get another donor.

Doesn't take a rocket scientist to tell that he's lying, and to figure out why he was lying in the first place. He's already in hot water following the collapse of FTX and the crimes that he is being punished for, best to do right now is to not admit to the allegations and further fuel the hate he's getting. Although I don't really see why the rape analogy fits this cause in the interview it's not like he's blaming other people too for it, let alone blame the customers for being so stupid to trust him with the money. Plus that's just poor taste man. Anywho, your hopes are about to come true cause one by one court proceedings lean towards him receiving decades of jail time for misusing the people's funds and manipulating the government into being lenient with his bullshit (the fact that he funds politicians so they would favor him in the future or whatever). Even his girlfriend wants nothing to do with him now lol the bitch is literally avoiding everyone involved in the FTX case as if she didn't get anything from his business.

Knew from the get-go there was something off about this motherfucker from the Nas Daily short documentaries, now that he's outed I'm just happy we see him for what he truly is and I hope the victims get their full recompense. Cause it sucks losing money, let alone money you trust to give you financial freedom.

at least this one is quite obvious in my opinion. SBF should really answer for his negligence in this business. a lot of of investors have lost their funds. even if he denied all his wrongdoings, but the hard evidences can prove it otherwise. thus, there's no need for the second trial because enough evidences have been already submitted to the Court.

now, we will see what kind of sentence or prison time he will receive from Judge Kaplan. it is said to be that he will possibly receive more than 100 years of prison time. but let us see the actuality here. how many years they will give to SBF for all the criminal charges he is facing with.


in SBF's case, even if he has rich and influential parents, he didn't have a free pass on these criminal charges because those were already too much to defend. a lot of people have been duped and lost. how many lives he ruined because of their failed investments? so for me, he did deserve to receive the max sentencing on this case.

Well now the prosecutors did say they will will not pursue a second trial for SBF. They said the evidence they would use has already been use done the first trial and their enough evidence against him already.
The second trial would have added more charges against him. They would have been conspiracy to bribe foreign officials, conspiracy to commit bank fraud, conspiracy to operate an unlicensed money transmitting business, and substantive securities fraud and commodities fraud.
https://nypost.com/2023/12/29/business/sbf-wont-face-a-second-trial-after-fraud-conviction-prosecutors/

With that said crime he did, do you really think it isn't possible? In fact this article here states that Sam Bankman Fried was still in jail since August and his bail was revoked. So it seems what he did there is really serious for it to not get bailed. Didn't knew that he had a rich and influencial parents but too bad for him that they can't do anything either.

Maybe the court will be happy for him and lessen his sentence if he can do a full refund to those who lost their money with the help of his parents. Didn't knew Ross Ulbritch so I did a quick search and found out that he is the founder of Silkroad. But like you, I also think that his case is more brutal than what SBF did.

The law doesn't give a room for sentiments, that's one thing I understand about law. If you are guilty of something, he ready to do the jail. SBF case is just a United state case, it's a global case that the world is watching, and the world is watching, even high political drivers don't put mouth in some cases because they don't want to be label judiciary manipulators.

SBF is guilty of many count charges and they will review that next year and sentence him to jail, he wasted a lot of dreams of people, wasted billions of dollars into ponzi scheme and you still think man is going to walk the way he likes? If R Kelly is really influencing and politically inclined US and still in jail, SBF is going to do his time. If they don't jail him, they may fear what another person will try next time because they will feel American judiciary system is not working.

Have you been following SBF's trial recently? According to an article I read recently, the trial is over and he has been convicted of 7 different crimes. What's even more interesting is that he could be sentenced to up to 115 years in prison and everything is almost certain and is no longer a rumor. His lawyer couldn't get him out of even a single charge, let alone get him out of jail. I think his connections and contributions to politics were useless because it couldn't save him from those counts.
https://www.cnbc.com/2023/11/02/sam-bankman-fried-found-guilty-on-all-seven-criminal-fraud-counts.html

LOL.. do you really think that this guy will spend more than a few weeks behind bars? He made hundreds of millions of USD worth of donations to various political causes (the vast majority of which went to the Democrat Party), and his parents are very rich and influential. He may get sentenced to a lengthy jail term, but I don't think that he will serve more than 1% of that time in a proper prison. Ross Ulbricht's case was different. He was from the other extreme of the political prism and he went against the system. You can't compare Sam Bankman Fraud to Ross Ulbricht.

Since this is now experiencing actuality, your guess that this may take about a year until SBF knows what's going to happen with him, here we go!

"Sam Bankman-Fried found guilty in FTX crypto fraud case"

He has been found guilty on all seven counts, the maximum sentence here is 105-110 years, but they assume he will get a little less than that, but will be in prison for a very long time, especially because he messed up his defense and his testimony so hard that the jury didn't take very long to come to the conclusion that this is blatant fraud and not to the slightest extent a little stupid guy who accidentally slipped into something he couldn't handle. Deleting messages, manipulating balance sheets, shifting assets to his parents without consent of the company (except for him as the boss), the list is very long.

And to come back to OP's title: my lord, yes there was improper use of customer funds!

They also said that his PR tour giving interviews on like 50 occasions after FTX crashed also broke him the beck. The prosecutors slapped his own words right into his face from the beginning till the end. Classic case of remaining silent is golden. But they have also said that this was so obvious that no defense strategy would have saved him, but it might have saved him a few years of his life outside prison.

A young guy becoming a billionaire under 30 within months, and crashing within days ending up in prison essentially for lifetime. Impressive... This guy could have had it all.

He won't do it. He'll want to wait for the verdict first and this will take at least a year. Then, if he gets 30 years or more, there's a chance he'll do it.

For a young guy, getting out at his 60s or 70s is like a death sentence, especially that he's a weak looking guy. If he got into a prison camp he might survive, but in a normal federal prison he won't make it with all those street thugs around. He'll end up as someone's girlfriend.

Should we care about him? It wasn't a mistake that he made. It was years of stealing before he got caught. He knew what he was doing.
I'd be more willing to release Ross than SBF and Ross is in for life.

I already answered a similar question somewhere, but honestly, no matter how cruel it sounds, why should we care if he does it? Maybe you should ask yourself how many people have already committed suicide and how many will commit suicide in the future because of Bankman?

If you've read any serious article about what happened, you have most of the answers, you don't need Bankman to admit that he's an idiot who instead of running a company was conducting some kind of social experiments in his villa in the Bahamas. All those involved should be sentenced to long prison sentences, and if any of them wants to pronounce a death sentence on themselves, that is between them and God.

There is a very real risk that SBF may attempt to kill himself, for someone like him that was so proud about his achievements and about the material gain that he has gained by deceiving his investors it is going to be almost impossible to accept the incredibly difficult conditions he will find at prison, and as such it is possible he will take the easy way out, and as much as I do not like him I would not want for that to happen as there are many investors that need answers about what happened.

   - In this interview, it is obvious to the majority that he is washing his hands here, that is the truth in the perception of the majority of this event.

But now he is in the custody of the authorities after he was arrested by the police, and as far as I know, the prison he is in so far is one of the worst prisons in the world, in short, there are many prisoners, and the facilities are not good, and they didn't grant the request to transfer him to the custody they want for SBF, Karma is really real.

As a Cryptocurrencies consumer who lacks power, it is certainly very difficult to be able to expect a lot from FTX cases, some bankrupt Exchanges previously promised refund with the steps they specified, but it was only theory and could never succeed when refunded. Moreover, FTX looks always avoiding every time asked about investor money.

What more can he do but lie to buy time? This must have been a strategy from the lawyers he brought in for his case

How can he not know about the loss of money from the exchange after they deliberately paused withdrawal's and seized investors money.

He should erase anything in his mind that makes him feel like he'll be granted bail as fast as possible after all the hurting news.
The judge would be extremely punishment in my idea if he eventually does anything like that.

The lawyer he brought I learnt was a very experienced legal practitioner who from experience can be able to handle bad cases, but this one seem impossible.

Having these centralized platforms or services then it cant really be avoided for these things not to exist considering that there are things which touches up fiat transactions will really be needing these platforms.

Hate it or not then it would really be the reality.On the time on the said platform gained up much interest and popularity and then this is where its owner/CEO would really be tested out whether he would make

himself that greedy son-of-a-b*tch and would plan to ran out their users money or would tend to continue to the business and SBF did choose the other path.
He can deny all he want but the public does already know the obvious truth.

This is no different than what we have seen all our lives with banks, everyone knows they are bankrupt but the bank is going to deny this until it actually happens as they believe they can keep on deceiving their customers, the interesting thing about this is that we were supposed to leave this behind with decentralization, but it seems a great deal of people are not ready for it and keep accepting centralized institutions in a market which was created with the intention of not using them at all.