Sam Bankman-Fried found guilty on all seven criminal fraud counts

Dave Hess

Dave Hess

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Sam Bankman-Fried found guilty on all seven criminal fraud counts​


www.cnbc.com

Sam Bankman-Fried found guilty on all seven criminal fraud counts

A jury has found Sam Bankman-Fried guilty of all seven criminal counts against him.
www.cnbc.com www.cnbc.com

** Edit **

There was way too much evidence against him.

I got suspicious when lots of YouTubers all of a sudden started to promote FTX with discount codes and promotions.
 
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so how many lives did he ruin with the 10 billion.
With financial crimes the punishment never fits the crime.
 
Is there an electronic paper trail to find the missing money ?

Im guessing he will get 25 years at a minimum security prison on a military base.
 
Considering the folks that caused Enron, Arthur Andersen, and Fannie Mae scandals got off easy, this guy probably will too.
 
He maybe knew how to do fraud (he still got caught). But in reality it is the deeply dumb person. To decide on this defense is an achievement in stupidity. One has to work really hard to do what he did in this case.
 
Bernie Madoff got 150 years but died about 10 years into his jail sentence. I can't see how this guy gets sentenced to less time behind bars then that.
 
Pew said:
Considering the folks that caused Enron, Arthur Andersen, and Fannie Mae scandals got off easy, this guy probably will too.
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He doesn't really have the huge connection like Ken Lay, and for a young guy with not much background he is likely just a scape goat for a bigger scheme. I don't buy crypto but what he lost / stolen isn't as big as other stuff out there.

Donald said:
How did the guy spend all the money he stole?
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Likely never made that much and was Ponzi scheme only.
 
edyvw said:
He maybe knew how to do fraud (he still got caught). But in reality it is the deeply dumb person. To decide on this defense is an achievement in stupidity. One has to work really hard to do what he did in this case.
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Both parents are law professors, and he was smart enough to graduate from MIT.

Dumb only in the sense that he got caught. And arrogant. Whatever sociopathic tendencies these kinds of people already have tend to come to the surface the more money/power/fame they attain. Not surprising for the tech bro/billionaire types who think that because they're rich, and have noble (in their own mind) goals, they can do no wrong, are the only ones who know how to solve societal ills, and don't have to listen to anyone else, or follow the rules, which are for others.

Sound familiar to other figures who are often in the news? Like a certain EV/rocket mogul? :ROFLMAO:

Donald said:
How did the guy spend all the money he stole?
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Well, his parents have certain things they didn't have before, to start. The sordid details are out there if one wishes to delve further.
 
in a certain respect should not some blame get placed on the speculators?
I hesitate to call them investors. More like gamblers..
Sam was just the bookie. :)
 
Carmudgeon said:
Both parents are law professors, and he was smart enough to graduate from MIT.

Dumb only in the sense that he got caught. And arrogant. Whatever sociopathic tendencies these kinds of people already have tend to come to the surface the more money/power/fame they attain. Not surprising for the tech bro/billionaire types who think that because they're rich, and have noble (in their own mind) goals, they can do no wrong, are the only ones who know how to solve societal ills, and don't have to listen to anyone else, or follow the rules, which are for others.

Sound familiar to other figures who are often in the news? Like a certain EV/rocket mogul? :ROFLMAO:



Well, his parents have certain things they didn't have before, to start. The sordid details are out there if one wishes to delve further.
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The defense strategy was absolutely bonkers. So, yes, dumb. Or, too much self-confidence combined with stupidity is always killer combination.

I know about his parents. That is whole story in itself.
 
MSCH said:
in a certain respect should not some blame get placed on the speculators?
I hesitate to call them investors. More like gamblers..
Sam was just the bookie. :)
Click to expand...
Pretty much this.

I mean Sam didn't actually go into the widower's kitchens and scam them. People (mostly young to middle age) willingly threw bad money after this scheme to get rich. Really quickly they hoped. Doesn't make him any less slimy or guilty.
 
There were a lot of other people involved besides SBF and his homely girlfriend. I'll bet his parents were in it up to their necks too.
I'd like to see a bunch of them convicted and sentenced to making little ones out of big ones if I may quote a line from The Three Stooges when they were in the pen.
 
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