News update.
Whoever is behind Sam Bankrupt-Fried might be ready to terminate him if he begins to show that he will talk and tell the truth behind the real purpose of the creation of FTX.
I have said this months before. If something happens, Sam did not kill himself.
In a recent court filing, lawyers demanded the kith and kin of Bankman-Fried to answer questions and furnish financial documents about their personal wealth. In addition, lawyers have also asked for other documentation that may reveal any sort of FTX money transfer.
The filing went on to disclose that Sam Bankman-Fried’s brother, Gabriel Bankman-Fried, founded an organization that lobbied members of the US Congress. It was reportedly based out of a property situated near the US Capitol.
Source https://watcher.guru/news/sbfs-brother-founded-an-organization-to-lobby-congress-members
Topic: When will Sam Bankman-Fried go to jail? - page 3. (Read 2435 times)
also the bail was a contract of 3 relatives plus a lawyer being "trust" of $300m of SBF collateral which they would surrender to the court if SBF were to abscond. due to some relatives and lawyer having some legal licences that can also be revoked if they fail to pay the obligations upon absconding, the court judge at the time(has a personal connection to them) decided that was enough leverage to scare SBF into not running, and enough fear to the "trust" licence revokes and reputation harm of the $250m bail amount to ensure payment would be made if abscond.. thus no real money needed to change hands(though it should have done!)
Yeah, that is a simplified way thanks for explaining this. I knew he got on bail, I knew it was something to do with collateral, and I know a lot of people think it's not right but legally, this is what happens all the time. No money moved.
Now that they've also recovered 5 billion, this bail amount doesn't seem much at all, especially if the most likely is that it will harm future reputation of all involved. And you know for sure this isn't the end for them, they want to pick up again.
Yes, it's twisted but they say it's legal so I guess it is. What I criticize is that if I would be arrested (or any average person) with the possibility to be freed on bail, I wouldn't be able to do anything like that. I hope that when it will come to penalty, SBF will get the normal penalty, and not anything twisted like this.
Recently, the founder of Three Arrows Capital wanted to raise capital to open an exchange called GTX, and they received more ridicule and criticism than support. Shows that scammers of the past, they will never get a chance to contribute to the market again.
that game is simple
if 3AC had say $3,500m of debt it owes customers(via other agents/companies)
if it can get those customers to sell their(other agents/companies) user accounts for say 10% of whats owed
then for $350m it can write off its own $3.5b debts to customers
their not doing it out of the goodness of their hearts to give money to customers.
its to buy back their own debt at discount to then lower their own bills they owe customers in the bankruptcy route by getting customers to give up their right over their account balances owed
thus if there was say $2b found in the bankruptcy administration accounts. they can cut off their $3.5b down to $350m. thus then the 3AC get to keep $1.65b themselves free and clear and not have to proceed with bankruptcy/class actions to try and find $3.5b to cover all customer obligations
funnier thing
they quote
Quote
have the option to convert their claims into equity in the new claim-trading company
basically suggesting not getting real value out to give to said customers but swapping the customers account rights/debt. into a new [lets call it a GTT] token ('equity of their company'). which they can then trade if they can get any outsider cex to then accept the token they create 
FTX drama may not have significant impact with bitcoin's price but we have seen that sentiments were fairly negative at that period.
Now, that FTX is claiming they seemingly to recover about $5B assets, the mood changes as people see hope for this case.
But in any case, I don't think SBF will be jailed as it seems, there are financial backers that may possibly want to bail him out.
Bail him out meaning, there may be big financial investors that will possibly assist in the recovery of his business.
that's for sure, because surely there will be big investors who take advantage of this situation to save SBF and later want to work together to build again on several cryptocurrency projects, I'm very sure of that.Now, that FTX is claiming they seemingly to recover about $5B assets, the mood changes as people see hope for this case.
But in any case, I don't think SBF will be jailed as it seems, there are financial backers that may possibly want to bail him out.
Bail him out meaning, there may be big financial investors that will possibly assist in the recovery of his business.
dramas like this are very predictable, of course, behind SBF there are many supporters who want to help or instead take advantage of the situation for personal gain in the future to cooperate with SBF and maybe SBF if in prison will also be placed in a special place.
about the FTX collapse, maybe it has a little effect on the price of bitcoin because there is an impact from it all, but we all know that the impact is only temporary and will definitely recover again.
I don't think big investors will find a way to save him and will cooperate with him in the future, with the scam scandal, no one will have the courage and confidence to invest in any project in which with the presence of SBF or Dokwon. Recently, the founder of Three Arrows Capital wanted to raise capital to open an exchange called GTX, and they received more ridicule and criticism than support. Shows that scammers of the past, they will never get a chance to contribute to the market again.
also the bail was a contract of 3 relatives plus a lawyer being "trust" of $300m of SBF collateral which they would surrender to the court if SBF were to abscond. due to some relatives and lawyer having some legal licences that can also be revoked if they fail to pay the obligations upon absconding, the court judge at the time(has a personal connection to them) decided that was enough leverage to scare SBF into not running, and enough fear to the "trust" licence revokes and reputation harm of the $250m bail amount to ensure payment would be made if abscond.. thus no real money needed to change hands(though it should have done!)
Yeah, that is a simplified way thanks for explaining this. I knew he got on bail, I knew it was something to do with collateral, and I know a lot of people think it's not right but legally, this is what happens all the time. No money moved.
Now that they've also recovered 5 billion, this bail amount doesn't seem much at all, especially if the most likely is that it will harm future reputation of all involved. And you know for sure this isn't the end for them, they want to pick up again.
that's for sure, because surely there will be big investors who take advantage of this situation to save SBF and later want to work together to build again on several cryptocurrency projects, I'm very sure of that.
dramas like this are very predictable, of course, behind SBF there are many supporters who want to help or instead take advantage of the situation for personal gain in the future to cooperate with SBF and maybe SBF if in prison will also be placed in a special place.
about the FTX collapse, maybe it has a little effect on the price of bitcoin because there is an impact from it all, but we all know that the impact is only temporary and will definitely recover again.
dramas like this are very predictable, of course, behind SBF there are many supporters who want to help or instead take advantage of the situation for personal gain in the future to cooperate with SBF and maybe SBF if in prison will also be placed in a special place.
about the FTX collapse, maybe it has a little effect on the price of bitcoin because there is an impact from it all, but we all know that the impact is only temporary and will definitely recover again.
You see, for SBF is trying to help in every possible way, even the recent detection of funds (about 4 billion) is aimed at somehow softening the negative attitude towards him and mitigating the punishment for him, and the postponement of the trial to October is also designed for this, this is the competent work of lawyers, who earn a lot of money for their work.
Of course, the collapse of the FTX had a great impact on the price of bitcoin, but now we can say, that bitcoin won back this drawdown, with a recent movement to 21k. The market recovered quite quickly and the positive news about the discovered funds played an important role in this.
It did. BTC was over 20k before the FTX collapse, and that made BTC loose more than 15% of its value within less than 24 hours, so that was really a shock. The most troublesome being that SBF was seen as the good guy. A man you can trust. If he's a crook, then the whole crypto world is corrupted...
I still don't understand how the man managed to be freed on bail without actually funding that bail, but at last, somehow, justice is on the way. Or some perverted kind of justice? I see the case as a test for the US judicial system.
I still don't understand how the man managed to be freed on bail without actually funding that bail, but at last, somehow, justice is on the way. Or some perverted kind of justice? I see the case as a test for the US judicial system.
scam bankman fraud was dong nothing different than the fiat bankers.. but dont tar crypto with the brush of fiat banker mindset
yes they have services setup at the offramps of crypto. but that does not mean that a crypto asset is bad due to wrecklessness of human greed at the edges
also the bail was a contract of 3 relatives plus a lawyer being "trust" of $300m of SBF collateral which they would surrender to the court if SBF were to abscond. due to some relatives and lawyer having some legal licences that can also be revoked if they fail to pay the obligations upon absconding, the court judge at the time(has a personal connection to them) decided that was enough leverage to scare SBF into not running, and enough fear to the "trust" licence revokes and reputation harm of the $250m bail amount to ensure payment would be made if abscond.. thus no real money needed to change hands(though it should have done!)
Although the crash of FTX caused a shock wave in the crypto world, it did not, in my view, cause bitcoin to plummet as you say. If I'm not mistaken, before the FTX crash, bitcoin price was at 17k, 18k, and after the crash bitcoin dropped to 15.5k. This drop is nothing compared to previous drops from ATH to $30k or the demise of Luna. The collapse of FTX only caused significant damage to those investors who had trusted to leave their money on FTX.
It did. BTC was over 20k before the FTX collapse, and that made BTC loose more than 15% of its value within less than 24 hours, so that was really a shock. The most troublesome being that SBF was seen as the good guy. A man you can trust. If he's a crook, then the whole crypto world is corrupted...
I still don't understand how the man managed to be freed on bail without actually funding that bail, but at last, somehow, justice is on the way. Or some perverted kind of justice? I see the case as a test for the US judicial system.
I don't think Sam Bankman Fried go to jail. Since he was denied bail in the Bahamas. Bankman-fried has been held at the fox hill correctional center in nassau with five other people.
^old news from december
since then he has been moved to america, went to court in america and given bail and currently living with his parents. the trial is set for october 2023. i hope you are upto date now
I don't think Sam Bankman Fried go to jail. Since he was denied bail in the Bahamas. Bankman-fried has been held at the fox hill correctional center in nassau with five other people.
5.5 billion were recovered, including cash, crypto assets, and securities. But the amount that FTX has to pay to the victims is estimated at 10-13 billion, so I think it is very difficult for retail investors to receive compensation. I think FTX will prioritize compensation to large shareholders and companies so that they continue to avoid bankruptcy and cause more collapses. And for retail investors really too fragile to receive any compensation.
be aware.. those numbers include the VALUELESS/worthless crap token FTT
where by some of the users "balance" were deemed worth X due to 2021 highs. rather than their deposit amount
what users expect is the high. but what accountants will end up showing will be a lower balance value based on a non high month
It appears the quickness and speed of how long the regulators act on a case also depends on who were scammed by the scammers. Sam Bankrupt-Fried has chosen the wrong people to scam hehehehe. According to some news articles, the investors that Sam scammed included Robert Kraft the owner of the New England Patriots, Tom Brady the quarterback of Tampa Bay Buccaneers, his super model wife Gisselle Bünchen, Joe Tsai the cofounder of Alibaba and other sports celebrities.
Do Kwon might have done it correctly because he only scammed his users and his fellow ponzi schemers hehe. It is speculated that he is in Singapore.
Sam bankman fried was arrested on December 13 2022, the arrest took place after the prosecutor's office received an official notification from the United States, even though sam bankman fried had been charged with eight criminal charges including fraud and money laundering but sam bankman fried still pleaded not guilty, the court even acquitted sam bankman fried with a guarantee of USD 250 million or the equivalent of 3.8 trillion, the explosion of the ftx collapse case sent a new shock wave through the cryptocurrency industry, which pushed the value of bitcoin sharply lower for 2022 .Do Kwon might have done it correctly because he only scammed his users and his fellow ponzi schemers hehe. It is speculated that he is in Singapore.
Although the crash of FTX caused a shock wave in the crypto world, it did not, in my view, cause bitcoin to plummet as you say. If I'm not mistaken, before the FTX crash, bitcoin price was at 17k, 18k, and after the crash bitcoin dropped to 15.5k. This drop is nothing compared to previous drops from ATH to $30k or the demise of Luna. The collapse of FTX only caused significant damage to those investors who had trusted to leave their money on FTX.
FTX drama may not have significant impact with bitcoin's price but we have seen that sentiments were fairly negative at that period.
Now, that FTX is claiming they seemingly to recover about $5B assets, the mood changes as people see hope for this case.
But in any case, I don't think SBF will be jailed as it seems, there are financial backers that may possibly want to bail him out.
Bail him out meaning, there may be big financial investors that will possibly assist in the recovery of his business.
5.5 billion were recovered, including cash, crypto assets, and securities. But the amount that FTX has to pay to the victims is estimated at 10-13 billion, so I think it is very difficult for retail investors to receive compensation. I think FTX will prioritize compensation to large shareholders and companies so that they continue to avoid bankruptcy and cause more collapses. And for retail investors really too fragile to receive any compensation.
FTX drama may not have significant impact with bitcoin's price but we have seen that sentiments were fairly negative at that period.
Now, that FTX is claiming they seemingly to recover about $5B assets, the mood changes as people see hope for this case.
But in any case, I don't think SBF will be jailed as it seems, there are financial backers that may possibly want to bail him out.
Bail him out meaning, there may be big financial investors that will possibly assist in the recovery of his business.
that's for sure, because surely there will be big investors who take advantage of this situation to save SBF and later want to work together to build again on several cryptocurrency projects, I'm very sure of that.Now, that FTX is claiming they seemingly to recover about $5B assets, the mood changes as people see hope for this case.
But in any case, I don't think SBF will be jailed as it seems, there are financial backers that may possibly want to bail him out.
Bail him out meaning, there may be big financial investors that will possibly assist in the recovery of his business.
dramas like this are very predictable, of course, behind SBF there are many supporters who want to help or instead take advantage of the situation for personal gain in the future to cooperate with SBF and maybe SBF if in prison will also be placed in a special place.
about the FTX collapse, maybe it has a little effect on the price of bitcoin because there is an impact from it all, but we all know that the impact is only temporary and will definitely recover again.
there may be big financial investors that will possibly assist in the recovery of his business.
any business that sees another business with a customer list(bigdata) of 1.2m people willing to invest ~$400m(combined) in bitcoin alone(20k of btc) is a $300 'product purchase' per customer, userbase which they can earn atleast $1 a trade in fee's per user (over $1m per trade combined users) does look appealing for any business wanting to operate and manage those customers for a few years.
..
however scam bankman fraud would really need to prove that customer lost alot less then the "billions" to bring his crime rating number down. and then talk about a deal to swap consecutive jail time for a combined fine. if he ever wants a chance of seeing freedom anytime soon
It appears the quickness and speed of how long the regulators act on a case also depends on who were scammed by the scammers. Sam Bankrupt-Fried has chosen the wrong people to scam hehehehe. According to some news articles, the investors that Sam scammed included Robert Kraft the owner of the New England Patriots, Tom Brady the quarterback of Tampa Bay Buccaneers, his super model wife Gisselle Bünchen, Joe Tsai the cofounder of Alibaba and other sports celebrities.
Do Kwon might have done it correctly because he only scammed his users and his fellow ponzi schemers hehe. It is speculated that he is in Singapore.
Sam bankman fried was arrested on December 13 2022, the arrest took place after the prosecutor's office received an official notification from the United States, even though sam bankman fried had been charged with eight criminal charges including fraud and money laundering but sam bankman fried still pleaded not guilty, the court even acquitted sam bankman fried with a guarantee of USD 250 million or the equivalent of 3.8 trillion, the explosion of the ftx collapse case sent a new shock wave through the cryptocurrency industry, which pushed the value of bitcoin sharply lower for 2022 .Do Kwon might have done it correctly because he only scammed his users and his fellow ponzi schemers hehe. It is speculated that he is in Singapore.
Although the crash of FTX caused a shock wave in the crypto world, it did not, in my view, cause bitcoin to plummet as you say. If I'm not mistaken, before the FTX crash, bitcoin price was at 17k, 18k, and after the crash bitcoin dropped to 15.5k. This drop is nothing compared to previous drops from ATH to $30k or the demise of Luna. The collapse of FTX only caused significant damage to those investors who had trusted to leave their money on FTX.
FTX drama may not have significant impact with bitcoin's price but we have seen that sentiments were fairly negative at that period.
Now, that FTX is claiming they seemingly to recover about $5B assets, the mood changes as people see hope for this case.
But in any case, I don't think SBF will be jailed as it seems, there are financial backers that may possibly want to bail him out.
Bail him out meaning, there may be big financial investors that will possibly assist in the recovery of his business.
It appears the quickness and speed of how long the regulators act on a case also depends on who were scammed by the scammers. Sam Bankrupt-Fried has chosen the wrong people to scam hehehehe. According to some news articles, the investors that Sam scammed included Robert Kraft the owner of the New England Patriots, Tom Brady the quarterback of Tampa Bay Buccaneers, his super model wife Gisselle Bünchen, Joe Tsai the cofounder of Alibaba and other sports celebrities.
Do Kwon might have done it correctly because he only scammed his users and his fellow ponzi schemers hehe. It is speculated that he is in Singapore.
Sam bankman fried was arrested on December 13 2022, the arrest took place after the prosecutor's office received an official notification from the United States, even though sam bankman fried had been charged with eight criminal charges including fraud and money laundering but sam bankman fried still pleaded not guilty, the court even acquitted sam bankman fried with a guarantee of USD 250 million or the equivalent of 3.8 trillion, the explosion of the ftx collapse case sent a new shock wave through the cryptocurrency industry, which pushed the value of bitcoin sharply lower for 2022 .Do Kwon might have done it correctly because he only scammed his users and his fellow ponzi schemers hehe. It is speculated that he is in Singapore.
Although the crash of FTX caused a shock wave in the crypto world, it did not, in my view, cause bitcoin to plummet as you say. If I'm not mistaken, before the FTX crash, bitcoin price was at 17k, 18k, and after the crash bitcoin dropped to 15.5k. This drop is nothing compared to previous drops from ATH to $30k or the demise of Luna. The collapse of FTX only caused significant damage to those investors who had trusted to leave their money on FTX.
It appears the quickness and speed of how long the regulators act on a case also depends on who were scammed by the scammers. Sam Bankrupt-Fried has chosen the wrong people to scam hehehehe. According to some news articles, the investors that Sam scammed included Robert Kraft the owner of the New England Patriots, Tom Brady the quarterback of Tampa Bay Buccaneers, his super model wife Gisselle Bünchen, Joe Tsai the cofounder of Alibaba and other sports celebrities.
Do Kwon might have done it correctly because he only scammed his users and his fellow ponzi schemers hehe. It is speculated that he is in Singapore.
Sam bankman fried was arrested on December 13 2022, the arrest took place after the prosecutor's office received an official notification from the United States, even though sam bankman fried had been charged with eight criminal charges including fraud and money laundering but sam bankman fried still pleaded not guilty, the court even acquitted sam bankman fried with a guarantee of USD 250 million or the equivalent of 3.8 trillion, the explosion of the ftx collapse case sent a new shock wave through the cryptocurrency industry, which pushed the value of bitcoin sharply lower for 2022 . Do Kwon might have done it correctly because he only scammed his users and his fellow ponzi schemers hehe. It is speculated that he is in Singapore.
He did a terrible thing and he deserve to be in jail, but there is a problem because SBF has money, power and he is very influential person where someones backing him up. The media is also behind this backing him up coz the news all over the internet spread the FTX scandal but the mainstrem media did not tackle the issues regarding about it. He is also a donor in political party that helps him about the case. The man has power but he really deserce to go in jail, let's see what will happen in the investigations.
copying from other topic to save re-writing
scam bankman fraud is trying to set up a defence that his 'victims value' is under $1m as oppose to billions for US thus trying to assume he can only be charged in band H and not band P for the US crimes
..
yet we all know he done bad things with more then just his claims of under $1m
id say $550m+ is the ball park of his crimes and where his penalty points should be pointing at
i explained his charges and sentencing "points" better here(previous page of THIS topic)
key details:
he didnt have $100b of VIABLE real assets..
he had~20k btc (min value $340m) meaning if he defraided/mismanaged/ stole then the charges are higher than $1m
id say his business was maybe $8bill value. and his frauds were worth more then $340m
Meanwhile, SBF does not waste time in vain and, being under house arrest, releases a saga where it accuses the CEO of Binance of organizing a purposeful failure, which consisted in conducting a public relations campaign against FTX, which, in his opinion, led to the collapse of Alameda, which subsequently spread to FTX and the rest.
In general, as always happens, malicious haters are to blame for everything, not their own miscalculations, irresponsibility, greed. and ambition.
Who is interested in the SBF version here: https://sambf.substack.com/p/ftx-pre-mortem-overview
In general, as always happens, malicious haters are to blame for everything, not their own miscalculations, irresponsibility, greed. and ambition.
Who is interested in the SBF version here: https://sambf.substack.com/p/ftx-pre-mortem-overview
scam bankman fraud is trying to set up a defence that his 'victims value' is under $1m as oppose to billions for US thus trying to assume he can only be charged in band H and not band P for the US crimes
..
yet we all know he done bad things with more then just his claims of under $1m
id say $550m+ is the ball park of his crimes and where his penalty points should be pointing at
Quote
victim value points
(H) More than $550,000 add 14
(I) More than $1,500,000 add 16
(J) More than $3,500,000 add 18
(K) More than $9,500,000 add 20
(L) More than $25,000,000 add 22
(M) More than $65,000,000 add 24
(N) More than $150,000,000 add 26
(O) More than $250,000,000 add 28
(P) More than $550,000,000 add 30.
(H) More than $550,000 add 14
(I) More than $1,500,000 add 16
(J) More than $3,500,000 add 18
(K) More than $9,500,000 add 20
(L) More than $25,000,000 add 22
(M) More than $65,000,000 add 24
(N) More than $150,000,000 add 26
(O) More than $250,000,000 add 28
(P) More than $550,000,000 add 30.
but basically if he can be charged for US offences of mis-managing/stealing/defrauding less than $1.5m which his substack is trying to convince people of.. it changes a upto 25years per charge into a 46 month(under 4 year) per charge which he could also get if multiple charges convict be serves alongside each other instead of after each other
thus changing the medias announcement of 115 years down to 3year 10 months max
..
as for the other BS he says in the substack. he never had 100billion of real value assets..
that was his BS ftt over priced and other silly self-tokens he made being over priced but not requiring all to be sold to create fake "market valuations"
i can make 5trillion tokens. sell just 1 for $1 and boom i now have a token market value of $5 trillion
and thats as fake as SBF supposed $100billion business value
thus changing the medias announcement of 115 years down to 3year 10 months max
..
as for the other BS he says in the substack. he never had 100billion of real value assets..
that was his BS ftt over priced and other silly self-tokens he made being over priced but not requiring all to be sold to create fake "market valuations"
i can make 5trillion tokens. sell just 1 for $1 and boom i now have a token market value of $5 trillion
and thats as fake as SBF supposed $100billion business value
key details:
he didnt have $100b of VIABLE real assets..
he had~20k btc (min value $340m) meaning if he defraided/mismanaged/ stole then the charges are higher than $1m
id say his business was maybe $8bill value. and his frauds were worth more then $340m
Do Kwon might have done it correctly because he only scammed his users and his fellow ponzi schemers hehe. It is speculated that he is in Singapore.
Various media have reported on Do kown hiding locations in Singapore and Serbia, maybe your explanation above is very logical because without the involvement of important people in the loss case, the case will be handled slowly and may not be prioritized. Even if the reason is due to the extradition process because South Korea does not have an extradition agreement with the Council of Europe, any efforts can be communicated with other countries to help the process of catching fraud perpetrators even if they are in the territory of other countries. This case is very different from FTX, SBF has been arrested even though he is in another country and of course the role of the victim from important people is very influential to emphasize that this case must be resolved immediately.I hate to promote Governmental overreach, but Yes, maybe the USA needs to file criminal charges against Do Kwon too and seek his extradition..
There might be no need, I reckon. Do Kwon did not take money from anyone important. He only took the money of ordinary American people. Seeking for his extradition might begin in 5 years if the government remembers him or it might also never happen heheehe.
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