When will Sam Bankman-Fried go to jail? - page 7.

BenCodie

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Quote from: royalfestus on December 15, 2022, 02:45:22 PM

Quote from: BenCodie on December 15, 2022, 02:04:27 PM

I don't think the main focus should be if SBF goes to jail or not, I think there are probably many other players who should be held accountable too. At the end of the day, FTx as a company stole billions from people who had considered them as a trustworthy institution. If people go to jail, everyone involved should.

Personally I am still in awe that this has even happened.

I did not know some US politicians are so corrupt and shameless until they tried to incriminate CZ Binance for the FTX scam. There's going to be a tough prosecution. I hope justice will prevail

I do not think anyone, even CZ, is innocent in the whole situation. I find it very hard to believe that CZ and Bankman did not collude closely enough for CZ to be aware of what was going on. At the end of the day, CZ benefits very much from FTX collapsing. Binance now has a major footing within the US thanks to FTX collapse. In a macro view, this has even further effects/ramifications outside the confines of crypto, Binance and FTX.

I won't explain any further.

countryfree

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Your country may be your worst enemy

Quote from: NotATether on December 15, 2022, 01:51:29 PM

Quote from: DooMAD on December 15, 2022, 11:14:29 AM

As sleazy as politicians tend to be, they would have naturally assumed the donations were being made with legitimately earned funds. Now that we know the legitimacy of Bankman-Fried's operation is very much in question, I don't think politicians will want to be associated with his money anymore. If the media start publishing articles about how certain politicians are funded by criminal enterprises, those politicians are going to have difficulty getting re-elected. I could be wrong, but I just don't think that's an issue anymore. He's too toxic to bail out by those in power.

I'm starting to think that Republicans are sharpening their chops and knives to plunge/throw at Democrat seats in pretty much any kind of election that happens within the next few months; governors, counties, senate, reps, etc.

All using SBF political donations corruption as ammunition.

I'm expecting that.

So you received money from that crook?
The guy who is in jail?
The guy who stole millions?
Was that stolen money your received?
Will you give it back?

TanhyaTrudy

newbie

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I hope he gets the punishment he deserves, but most of all I hope the user gets most of his assets back. Although this can only be a good wish.

Hypnosis00

sr. member

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Quote from: countryfree on December 14, 2022, 06:01:36 PM

So, Sam Bankman-Fried is in jail for at least 2 months, and we shall hope his example will force CEOs of other exchanges to behave, and not to mess with their clients' money. Sam Bankman-Fried was the worst, but Justin Sun's not much better, and there were issues with Binance as well.

The crypto-world will only get better if all the crooks are removed.

Might this become a lesson for the owners of exchanges to become transparent about their doings as people are trusted them but 2 months in prison, nothing really happens is not long enough to punish this person? He should stay there for a long-time just to give him time to realize their wrongdoings and never do it again.

This scenario may change the view of the traders in a particular exchange, trust is heavily affected but I say it is good for at least people to know the consequences when putting money into an exchange.

royalfestus

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Quote from: BenCodie on December 15, 2022, 02:04:27 PM

I don't think the main focus should be if SBF goes to jail or not, I think there are probably many other players who should be held accountable too. At the end of the day, FTx as a company stole billions from people who had considered them as a trustworthy institution. If people go to jail, everyone involved should.

Personally I am still in awe that this has even happened.

I did not know some US politicians are so corrupt and shameless until they tried to incriminate CZ Binance for the FTX scam. There's going to be a tough prosecution. I hope justice will prevail

Osama Maaz

jr. member

Activity: 322

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Bitcoin the future of finance

Quote from: Rikafip on November 20, 2022, 11:34:54 AM

It will be a miracle if he does any jail time, let alone spending many years in prison. After all, he didn't sponsor both Democrats and Republicans for no reason.

Friend Your wish come true Sam Bankman ( Freek) is arrested by Bahamas Police As we knows this man gives lose almost all the crypto community investors and now the authorities arrest him as a Global criminal ,
Here's the report link,

https://www.bbc.com/news/business-63953096

OgNasty

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Leading Crypto Sports Betting & Casino Platform

Quote from: BenCodie on December 15, 2022, 02:04:27 PM

I don't think the main focus should be if SBF goes to jail or not, I think there are probably many other players who should be held accountable too. At the end of the day, FTx as a company stole billions from people who had considered them as a trustworthy institution. If people go to jail, everyone involved should.

Personally I am still in awe that this has even happened.

Part of me thinks that the whole teams belongs in jail. The other part of me thinks that there had to be one person who made the decision to start defrauding people. The rest of them were just doing their jobs right? With how educated their team was, I can't decide if they were stupid kids who thought they were in control of the crypto space, or genius con artists who worked the laws to hide billions for themselves while giving their attorneys enough leeway to get them off without any serious consequences. We'll see when things get to court. I tend to think people as educated as them always had a plan and executed it, but there is a chance they were dumbass kids high on drugs that got way too much investment due to who they knew.

BenCodie

legendary

Activity: 1666

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I don't think the main focus should be if SBF goes to jail or not, I think there are probably many other players who should be held accountable too. At the end of the day, FTx as a company stole billions from people who had considered them as a trustworthy institution. If people go to jail, everyone involved should.

Personally I am still in awe that this has even happened.

NotATether

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bitcoincleanup.com / bitmixlist.org

Quote from: DooMAD on December 15, 2022, 11:14:29 AM

As sleazy as politicians tend to be, they would have naturally assumed the donations were being made with legitimately earned funds. Now that we know the legitimacy of Bankman-Fried's operation is very much in question, I don't think politicians will want to be associated with his money anymore. If the media start publishing articles about how certain politicians are funded by criminal enterprises, those politicians are going to have difficulty getting re-elected. I could be wrong, but I just don't think that's an issue anymore. He's too toxic to bail out by those in power.

I'm starting to think that Republicans are sharpening their chops and knives to plunge/throw at Democrat seats in pretty much any kind of election that happens within the next few months; governors, counties, senate, reps, etc.

All using SBF political donations corruption as ammunition.

DooMAD

legendary

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Leave no FUD unchallenged

Quote from: Rigon on December 15, 2022, 01:26:39 AM

but there is much criticism in various quarters as to whether he will go to jail. Because Sam Backman sponsored the political field for any purpose.

As sleazy as politicians tend to be, they would have naturally assumed the donations were being made with legitimately earned funds. Now that we know the legitimacy of Bankman-Fried's operation is very much in question, I don't think politicians will want to be associated with his money anymore. If the media start publishing articles about how certain politicians are funded by criminal enterprises, those politicians are going to have difficulty getting re-elected. I could be wrong, but I just don't think that's an issue anymore. He's too toxic to bail out by those in power.

Rigon

sr. member

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Quote from: countryfree on November 20, 2022, 11:29:50 AM

Re: When will Sam Bankman-Fried go to jail?

Bahamian authorities have arrested him but there is much criticism in various quarters as to whether he will go to jail. Because Sam Backman sponsored the political field for any purpose. So that the political authorities can support him if he is in any kind of danger. I think he will be released from the political cell.

adzino

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www.Crypto.Games: Multiple coins, multiple games

Your coins aren't losing any value. They still values a lot. Look at the price a decade ago and see the price now. You mean you lost money investing in those coins? Well, yes you lost money if you already sold the coins when the price of the coins were lower than what you have bought for. But if you are still holding your coins and haven't sold anything, then you haven't made any loss. Keep holding and if you can, buy more. By the way, SBF has already been arrested and had his court hearing. And we can already see the price go up, but then again, Binance is facing some questions, which might again affect the price of overall crypto market.

countryfree

legendary

Activity: 3066

Merit: 1047

Your country may be your worst enemy

So, Sam Bankman-Fried is in jail for at least 2 months, and we shall hope his example will force CEOs of other exchanges to behave, and not to mess with their clients' money. Sam Bankman-Fried was the worst, but Justin Sun's not much better, and there were issues with Binance as well.

The crypto-world will only get better if all the crooks are removed.

DooMAD

legendary

Activity: 3948

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Leave no FUD unchallenged

Quote from: bbc.reporter on December 13, 2022, 09:28:33 PM

In any case, I very much thought that it would be CZ or Justin Sun who would be doing intentional fraud against the community. I was wrong hehehe.

Give them time, heh. There are still ample opportunities for them or others to make a complete mess of things. Plenty more failures to come, that much is guaranteed. 'Finex/Tether has to implode at some point. We've got that to look forward to. Cheesy

bbc.reporter

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Activity: 3122

Merit: 1492

Quote from: GreatArkansas on December 13, 2022, 08:12:12 PM

Quote from: BitDane on December 13, 2022, 06:07:05 PM

It looks like the question of @OP had been answered. SBF was arrested and is now denied of bail by Bahama's prosecutors. It looks like the investigation will not stop on him because of lots of charges files against him including the conspiracy behind the FTX collapse. Regardless I hope SBF be treated well, and deny him of VIP status so that he will experience the punishment of his wrong doings.

What everyone still needs is their money back. If FTX or Sam Bankman-Fried will give back all the money of customers/investors on FTX Exchange is far better and everyone will be happy.
There are also some people that are still hoping to get their hard-earned money back.
With this arrest of Sam Bankman-Fried could guarantee that these customers/investors' funds will get back? We'll never know.

I reckon it is impossible for the depositors to have their deposits made whole again after FTX has filed for bankruptcy. What would occur is similar to what the usual process is when a company files for bankruptcy. The assets of FTX would be sold and whatever is left after liabilities would be divided among creditors and depositors. I am not quite certain about the exact percentages and figures, however.

In any case, I very much thought that it would be CZ or Justin Sun who would be doing intentional fraud against the community. I was wrong hehehe.

GreatArkansas

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Quote from: BitDane on December 13, 2022, 06:07:05 PM

It looks like the question of @OP had been answered. SBF was arrested and is now denied of bail by Bahama's prosecutors. It looks like the investigation will not stop on him because of lots of charges files against him including the conspiracy behind the FTX collapse. Regardless I hope SBF be treated well, and deny him of VIP status so that he will experience the punishment of his wrong doings.

What everyone still needs is their money back. If FTX or Sam Bankman-Fried will give back all the money of customers/investors on FTX Exchange is far better and everyone will be happy.
There are also some people that are still hoping to get their hard-earned money back.
With this arrest of Sam Bankman-Fried could guarantee that these customers/investors' funds will get back? We'll never know.

franky1

legendary

Activity: 4410

Merit: 4788

inmate number 14372 also known as scam bankman fraud. hired the legal council that also worked for ghislaine maxwell (epstiens female side pimp).
things didnt go well for her.
she tried to plead stupidity and ignorance. and now she is locked up

its weird but no surprise that he hired a team that are not financial/technology experts of exchange/bankruptcy expertise and instead hired a celebrity defender team of celebrities whom supposedly claim mental or visual issues as cause for defence

BitDane

sr. member

Activity: 1372

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It looks like the question of @OP had been answered. SBF was arrested and is now denied of bail by Bahama's prosecutors. It looks like the investigation will not stop on him because of lots of charges files against him including the conspiracy behind the FTX collapse. Regardless I hope SBF be treated well, and deny him of VIP status so that he will experience the punishment of his wrong doings.

Mahanton

hero member

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Quote from: add1ct3dd on December 13, 2022, 04:38:59 PM

Bahama news doesn't really make me feel any better, he is the type of guy that could find a way to get out and I am worried that he could do that too. After all, this is a guy who "stole" so much money that he could still find some money somewhere in some ledger a pay the people in Bahama and get out.

I am guessing that even in USA they can do that, I still believe many people who are said to die in prisons do not actually die but actually ended up with a new life somewhere else, or at worst case killed there knowingly. So all in all, I am guessing that the best thing to do would be just now assume he is jailed until we are certain about it for sure.

Yes he was arrested
https://www.cbsnews.com/news/sam-bankman-fried-arrested-bahamas-ftx-fraud-charges/

But i do agree with those points and even he's on jail, it wont really be still an assurance that he wont be able to get out.A man with so much money from ftx
is something that could do almost everything.
Im not saying that i dont have any trust with authorities anymore but we know about corruption and bribe do always
happen. Cool

add1ct3dd

sr. member

Activity: 658

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Bahama news doesn't really make me feel any better, he is the type of guy that could find a way to get out and I am worried that he could do that too. After all, this is a guy who "stole" so much money that he could still find some money somewhere in some ledger a pay the people in Bahama and get out.

I am guessing that even in USA they can do that, I still believe many people who are said to die in prisons do not actually die but actually ended up with a new life somewhere else, or at worst case killed there knowingly. So all in all, I am guessing that the best thing to do would be just now assume he is jailed until we are certain about it for sure.

Topic: When will Sam Bankman-Fried go to jail? - page 7. (Read 2439 times)