Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: philipma1957 on March 28, 2024, 07:25:01 PM
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I picked no. I wanted 50 years for him He is very young. In 25 years he will be in his 50s. There is over 1 billion missing. So he will score down the road.
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I chose yes. I believe that 25 years of imprisonment is sufficient punishment for the mistakes he committed that caused people to lose millions of dollars.
25 years in prison is not a short period of time. I think it is enough for him, even if he is young. It will certainly be a very long time for him, and most importantly, it will be a deterrent to bad people who are thinking of defrauding people and stealing their money.
The important thing is that he serves this sentence in a real prison and not in an entertainment prison.
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I chose yes. I believe that 25 years of imprisonment is sufficient punishment for the mistakes he committed that caused people to lose millions of dollars.
25 years in prison is not a short period of time. I think it is enough for him, even if he is young. It will certainly be a very long time for him, and most importantly, it will be a deterrent to bad people who are thinking of defrauding people and stealing their money.
The important thing is that he serves this sentence in a real prison and not in an entertainment prison.
I do agree that it is a long sentence. But he is 29-30 and will be free at 54-55.
So I kind don’t like that he will not be to old when he is freed.
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No, considering amount of money stolen, total victim along with with impact on those victim. And i expect in reality he'll in jail less than 25 years due to various reasons such as good behavior.
I chose yes. I believe that 25 years of imprisonment is sufficient punishment for the mistakes he committed that caused people to lose millions of dollars.
Actually it's not millions, but rather billions of dollars.
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I picked no. I wanted 50 years for him He is very young. In 25 years he will be in his 50s. There is over 1 billion missing. So he will score down the road.
SBF should get more than 25 years considering the severity of the things he did and the kind of deception he perpetuated in FTX to the detriment of the number of people who believed in his leadership and supposed integrity. This should have sending a big message to others under his category who might thinking of doing the same thing. SBF will always be remembered badly and surely he already carved a part in the history of the cryptocurrency industry...he did not just evaded the government and its regulatory functions but also fooled his own platform's users and investors. Had I been the judge I would render a 100-year prison term with a chance of parole only after 50 years.
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I picked no. I wanted 50 years for him He is very young. In 25 years he will be in his 50s. There is over 1 billion missing. So he will score down the road.
SBF should get more than 25 years considering the severity of the things he did and the kind of deception he perpetuated in FTX to the detriment of the number of people who believed in his leadership and supposed integrity. This should have sending a big message to others under his category who might thinking of doing the same thing. SBF will always be remembered badly and surely he already carved a part in the history of the cryptocurrency industry...he did not just evaded the government and its regulatory functions but also fooled his own platform's users and investors. Had I been the judge I would render a 100-year prison term with a chance of parole only after 50 years.
I googled his age he is 32. so 32+25 = 57
I am 67 and trust me 57 is not too old to cause a ton of damage again or to party like mad. So he is likely to be a very rich person once he gets out.
Spelled his name wrong. Sam Bankman-Fried is correct
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I do not know exactly how it works in the USA. Of those 25 years can you get out earlier, say at 15 for good behavior? In Spain, for example, the penalty for murdering someone is between 15 and 25 years, so there are people who have killed someone else with premeditation and have been sentenced to less than SBF. Apart from the fact that for good behavior you can start to get out of prison much earlier.
With that comparison I think that 25 years for SBF is fine. Think about what those years are like day by day, spent in prison, he will feel them like an eternity.
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I picked no. I wanted 50 years for him He is very young. In 25 years he will be in his 50s. There is over 1 billion missing. So he will score down the road.
I also voted no he should get 3 life sentences I agree that after he completes his 25 years sentence he can enjoy the money he scammed from the people, so many people can't work for 25 years and earn 1 billion, while SAM BANKMAN-FRIED can just wait and relax for his release and enjoy that huge winnings.
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I also picked NO for this one.
He's still 32 years old, and after 25 years, he will be 57 years old. He can still do many things on that age. He still have the power to scam people "AGAIN". :D
TBH, I don't care that much with the sentence. What I care more is the investors. Will they get paid, and if they will get paid, is it enough? Anyway, the judge has decided that he will be in jail for 25 years. I hope that this will not go down anymore for some reasons, and I wish that investors will get paid as well.
Why not 100+ years? I mean no one wants to see him out of jail aside from his parents, right? :D
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The sentence is surely not enough, sbf should have gotten nothing less than 40-50 years in prison. This is a financial crime that caused so much damage for a lot of people, there are even reports that some persons committed suicide after losing everything in ftx's collapse, and all because of sbf's misappropriation of customer's funds. This will surely be hard to take for the creditors, who were seeking some kind of 'justice' from this.
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No, considering amount of money stolen, total victim along with with impact on those victim. And i expect in reality he'll in jail less than 25 years due to various reasons such as good behavior.
Yes, this is what I fear. If he were to spend a full 25 years in prison, that would be a sufficient period, but given the data, I expect that he will receive mitigating reasons for the prison term, such as good behavior, as you mentioned, or such as cooperation with the authorities in the investigation, and so on.
Also, let us not forget that his parents may intervene to get him a comfortable stay in prison, as he actually received during the period of his imprisonment that he spent during the investigations.
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I mean, I get people who want "life" sentence, because lets be honest 25 year jail time doesn't mean that its 25 years, he will get out before that 25 year ends. This is why many people want life sentence, since he would be paroled after 20 years anyway, which would make it better for him. However, I believe that considering what he did wasn't a violent crime, he didn't murder anyone, yes what he did was illegal and yes what he did hurt anyone, maybe for life, there isn't really anything small for him and that's why I believe that what he got was enough, anything less would be too bad, anything more could be over rate.
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I also voted no and I highly agree with Philipma1957 that SBF is too young now and after 25 years he won't be old enough to not do something that he has already done. Because of that guy so many people have lost their life savings and 25 years of imprisonment is nothing when we see the damage he has done. So, I believe a good punishment for him should be life imprisonment.
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I voted for yes, it's not that I'm a pro SBF, no I'm not. But if you look at the justice system of the US, usually they handed like 20 years prison sentence. So this is just about as normal as what the judge can give to SBF.
Yes, he is still young when he got out of prison, but who knows, I mean there's a lot of things that is going to change in that time frame and maybe we will forget all about this guy in the future.
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I voted for yes, it's not that I'm a pro SBF, no I'm not. But if you look at the justice system of the US, usually they handed like 20 years prison sentence. So this is just about as normal as what the judge can give to SBF.
I'm not familiar with U.S. laws, but do you mind share article or news which state about usually handling 20 years sentence? After all, we've seen more serious sentence like this, Sholam Weiss appeals 845-year sentence for life insurance plot (https://www.investmentnews.com/industry-news/news/sholam-weiss-appeals-845-year-sentence-for-life-insurance-plot-27927) where both him and SBF was involved on billions of USD.
Yes, he is still young when he got out of prison, but who knows, I mean there's a lot of things that is going to change in that time frame and maybe we will forget all about this guy in the future.
And if people in the future still doesn't bother perform research, he probably will scam them again.
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I voted for yes, it's not that I'm a pro SBF, no I'm not. But if you look at the justice system of the US, usually they handed like 20 years prison sentence. So this is just about as normal as what the judge can give to SBF.
I'm not familiar with U.S. laws, but do you mind share article or news which state about usually handling 20 years sentence? After all, we've seen more serious sentence like this, Sholam Weiss appeals 845-year sentence for life insurance plot (https://www.investmentnews.com/industry-news/news/sholam-weiss-appeals-845-year-sentence-for-life-insurance-plot-27927) where both him and SBF was involved on billions of USD.
Yes, he is still young when he got out of prison, but who knows, I mean there's a lot of things that is going to change in that time frame and maybe we will forget all about this guy in the future.
And if people in the future still doesn't bother perform research, he probably will scam them again.
Bernie Madoff got a long sentence over 100 years. But in his case the money was gone and or lost.
In this case I have read a lot about the funds.
of 9 billion 7 billion was recovered. Some what sure the so called lost money is 1-2 billion.
This likely lowered his sentence as compared to Madoff. I also think maybe they believe that some of that missing 1-2 billion may be recoverable. If more shows up he will likely get less than 20 years maybe 10 .
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Bernie Madoff got a long sentence over 100 years. But in his case the money was gone and or lost.
In this case I have read a lot about the funds.
of 9 billion 7 billion was recovered. Some what sure the so called lost money is 1-2 billion.
This likely lowered his sentence as compared to Madoff. I also think maybe they believe that some of that missing 1-2 billion may be recoverable. If more shows up he will likely get less than 20 years maybe 10 .
Just imagine if his lawyers can bargain that 1 to 2 billion in exchange for a shorter jail term and he has $500 million or more kept somewhere he will still enjoy a good life, he doesn't care about reputation as long as he can buy an island and live a life of luxury.
Worse is people will be inspired by his story of trying to scam people and negotiate a jail term if caught and enjoy a life of luxury after you get released.
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25 years in prison is not a short period of time. I think it is enough for him, even if he is young. It will certainly be a very long time for him, and most importantly, it will be a deterrent to bad people who are thinking of defrauding people and stealing their money.
That's if no assistance would be given. I believe it's sentence would come with some leeway in prison. Seen those in lots of movies and saying it would stop others? I wish Bernie case of 150 years imprisonment wasn't even a deterrent so how would 25years stop others.
he didn't murder anyone, yes what he did was illegal and yes what he did hurt anyone,
Directly but caused the deaths and mental breakdown of many individuals. So I don't think the issue of fraud should be treated lightly. It can lead to suicides even The movie The Beekeeper gave evidence on that.
This likely lowered his sentence as compared to Madoff. I also think maybe they believe that some of that missing 1-2 billion may be recoverable. If more shows up he will likely get less than 20 years maybe 10
Exactly. I'm thinking the sentence is for all this to blow away and people start speaking less of it. Then they start giving reasons why it's term would be cut short like good behavior or even cooperating with the force to recover some of the money.
https://www.nytimes.com/2024/03/28/technology/sam-bankman-fried-white-collar-sentences.html as can be seen in this link. The lawyer related Sam's case with the case of Michael who was supposed to serve 10 years but did 2 because of cooperation. So we can tell that the likelihood of him staying more than 10 years in prison is low except maybe someone who couldn't stand him choose to Off him.
The sentence is not really 25 years perse but around 21.25 years since he would be given 15% Jail term reduction for receiving a sentence more than one year's
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Yeah he still has some bargaining power if he has more funds stashed. Madoff lost the funds. My guess is SBF will be free in under 10 years. Maybe I can start a new thread 🤔 poll on when will SBF be released from prison.
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Maybe I can start a new thread 🤔 poll on when will SBF be released from prison.
Good idea, I also think he probably won't stay in prison for more than 10 years.
I don't have much experience with American law and I don't know how much possible prison sentence reduction SBF can get, but I am sure of one thing that his parents will not let their spoiled boy serve the entire sentence in prison and will pay any money to get him out before the term is up.
In all countries there are always back doors to manipulate the law by the lawmen themselves 8).
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I picked no. I wanted 50 years for him He is very young. In 25 years he will be in his 50s. There is over 1 billion missing. So he will score down the road.
It should be more than 25 years because now if he is 25 years old, of course it will be 50 years when he gets out of prison.
As far as I know, 50 year olds are still capable enough to earn money again with the skills of SAM BANKMAN-FRIED or maybe anti 50 year olds after leaving prison create another system that deceives many people.
The losses reached billions of USD for everyone, huge funds stolen by SAM BANKMAN-FRIED from everyone.
The prison should be above 40 years because the calculation is like this = 25 years + 40 years = 65 years, if a person over 65 years old is old enough, then that is the right sentence for SAM BANKMAN-FRIED. IMO
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I voted for yes, it's not that I'm a pro SBF, no I'm not. But if you look at the justice system of the US, usually they handed like 20 years prison sentence. So this is just about as normal as what the judge can give to SBF.
I'm not familiar with U.S. laws, but do you mind share article or news which state about usually handling 20 years sentence? After all, we've seen more serious sentence like this, Sholam Weiss appeals 845-year sentence for life insurance plot (https://www.investmentnews.com/industry-news/news/sholam-weiss-appeals-845-year-sentence-for-life-insurance-plot-27927) where both him and SBF was involved on billions of USD.
Yes, he is still young when he got out of prison, but who knows, I mean there's a lot of things that is going to change in that time frame and maybe we will forget all about this guy in the future.
And if people in the future still doesn't bother perform research, he probably will scam them again.
I'm basing it all on what I read on the other forum mate, we have a legal board there. And when I visited it, usually those who posted the crimes and sentence are around 20 years even if the subject has been tried in absentia.
Well people change, could be for the worst or better. So hard to see what SBF will come up once he goes out in jail. Maybe he will involved himself in crypto again and find another way to scam.
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--snip--
Bernie Madoff got a long sentence over 100 years. But in his case the money was gone and or lost.
In this case I have read a lot about the funds.
of 9 billion 7 billion was recovered. Some what sure the so called lost money is 1-2 billion.
This likely lowered his sentence as compared to Madoff. I also think maybe they believe that some of that missing 1-2 billion may be recoverable. If more shows up he will likely get less than 20 years maybe 10 .
That makes sense, but one of the news state that SBF doesn't offer cooperation to recover victim's money either. So i still find 25 years jail time on light side.
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I think the judge was lenient on him but I am not really in a position to comment about it. Maybe the real victims could share their sentiment but I haven't read any article that covers that story. What I've read so far are disappointed crypto enthusiasts pointing out that someone got a double life sentence.
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25 years later he will become a rich man with abundant assets.
Especially if he gets a gratuity, a reduction in prison time for good behavior, for example.
25 years is light enough for a con artist like SBF, he built his wealth can from prison with the people he entrusted.
Even the people in prison will be his partners later.
We look forward to the next 25 years or less, LOL.
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I picked no. I wanted 50 years for him He is very young. In 25 years he will be in his 50s. There is over 1 billion missing. So he will score down the road.
When you plant really bad things, you will not only be able to reap good things, but you will also reap really bad things. Now, it seems that what is happening in Sbf's life is like all the money he got or took that was not his; all or most of it will go to the ordeal he is going through now.
He will probably use all his money, power, and connections just to reduce the court's sentence against him. If only he had returned the money he took, I wish he would have been given a short prison sentence, but that was not the case, and he was stubborn and insisted that he did nothing when the evidence against him was strong.
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I chose yes. I believe that 25 years of imprisonment is sufficient punishment for the mistakes he committed that caused people to lose millions of dollars.
It is not just about the punishment, but is 25years enough for him to learn his lessons and decide to change, never to be involved in any criminal activity after his release?
The important thing is that he serves this sentence in a real prison and not in an entertainment prison.
Him and his lawyers used the health claim of him being vulnerable in prison due to him being autistic to drag his sentencing down to 25years, so I am not so sure he will be in a real/general prison. He will be closely monitored.
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of 9 billion 7 billion was recovered. Some what sure the so called lost money is 1-2 billion.
This likely lowered his sentence as compared to Madoff. I also think maybe they believe that some of that missing 1-2 billion may be recoverable. If more shows up he will likely get less than 20 years maybe 10 .
I don't understand why everyone is focused on the 2 billion like they were stashed away!
If SBF would have had those 2 billion FTX wouldn't have gone down in the first place!
Also, why is everyone ignoring the second ruling in the case:
It is further adjudged that he forfeit to the United States the sum of $11,020,000,000, including the specific property identified in the Preliminary Order of Forfeiture that I am signing today, all on the terms and conditions there set forth.
Experts say this amount will likely financially incapacitate him for the rest of his life.
“This forfeiture is designed to make certain that if SBF ever makes money, it goes not to him but to the government and the victims,” Mitchell Epner, a former federal prosecutor, told CNN. “He will never be able to accumulate funds in his life, and forfeiture cannot be eliminated through bankruptcy.”
He has 11 billion attached to him for the rest of his life! Unless he has 4 billion on top of the ones recovered by the trustee in FTX there is no way he will ever!!!! be able to erase that debt, will he try to buy another mansion with the money people think he stashed away the USM will seize that in a matter of days.
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I chose yes. I believe that 25 years of imprisonment is sufficient punishment for the mistakes he committed that caused people to lose millions of dollars.
It is not just about the punishment, but is 25years enough for him to learn his lessons and decide to change, never to be involved in any criminal activity after his release?
There is no guarantee that he will not engage in any new criminal activity in the same manner when he is released from 25 years in prison. What he has done has affected the entire crypto market, directly and indirectly he has caused huge financial losses to many people. Even if a criminal like him gets out after 25 years in prison, I will not believe him, I always think he will come out with a more serious plan.
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I chose yes. I believe that 25 years of imprisonment is sufficient punishment for the mistakes he committed that caused people to lose millions of dollars.
It is not just about the punishment, but is 25years enough for him to learn his lessons and decide to change, never to be involved in any criminal activity after his release?
There is no guarantee that he will not engage in any new criminal activity in the same manner when he is released from 25 years in prison. What he has done has affected the entire crypto market, directly and indirectly he has caused huge financial losses to many people. Even if a criminal like him gets out after 25 years in prison, I will not believe him, I always think he will come out with a more serious plan.
I am sure he has an angle he is working on as I type this reply to you. I wanted a 50 year sentence with him serving 35 or more year. too bad it did not happen.
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I chose yes. I believe that 25 years of imprisonment is sufficient punishment for the mistakes he committed that caused people to lose millions of dollars.
It is not just about the punishment, but is 25years enough for him to learn his lessons and decide to change, never to be involved in any criminal activity after his release?
There is no guarantee that he will not engage in any new criminal activity in the same manner when he is released from 25 years in prison. What he has done has affected the entire crypto market, directly and indirectly he has caused huge financial losses to many people. Even if a criminal like him gets out after 25 years in prison, I will not believe him, I always think he will come out with a more serious plan.
I am sure he has an angle he is working on as I type this reply to you. I wanted a 50 year sentence with him serving 35 or more year. too bad it did not happen.
Every victim and serious member of the crypto community wanted his sentence to be more than 50 years. But this sentence is much less than expected. Even after he completes his 50-year sentence, he will have plenty of time to commit new crimes, which is certainly a red alert for future generations. Because the new generation will not be aware of the pain of the events that happened because of this person.
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Every victim and serious member of the crypto community wanted his sentence to be more than 50 years. But this sentence is much less than expected.
Yeah, it was less than what was expected, nobody wanted a longer sentence than the creditors and i am sure they are very disappointed with the 25 year sentence he got. I expected sbf to get 40-50 years, but he didn't, that would have been a stronger deterrent to others, however, this should be a lesson to others to store their funds only in their self custody and not in exchanges.
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I am sure he has an angle he is working on as I type this reply to you. I wanted a 50 year sentence with him serving 35 or more year. too bad it did not happen.
Yes, I understand your point of view, but what can we do if this is the nature of the laws in America? Here in my country and some other countries there are life imprisonment sentences, but this does not seem to be the case in the United States.
The judge and jury found it appropriate for the prison period to be only 25 years, perhaps since American law does not allow more than that. If the SBF case requires more years of imprisonment, this means that the American government must reconsider the penal laws related to such cases. .
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Every victim and serious member of the crypto community wanted his sentence to be more than 50 years. But this sentence is much less than expected.
Yeah, it was less than what was expected, nobody wanted a longer sentence than the creditors and i am sure they are very disappointed with the 25 year sentence he got. I expected sbf to get 40-50 years, but he didn't, that would have been a stronger deterrent to others, however, this should be a lesson to others to store their funds only in their self custody and not in exchanges.
Although the sentence was not expected it is good news that he has finally been sentenced and he will not be able to run any more scams for the next 25 years. No matter how much crypto investors are warned about holding funds on exchanges, they will keep holding funds on exchanges. Now if something like FTX happens with another top exchange, you will see a large number of new victims. So a portion of crypto investors hold their funds on exchanges, which is huge risk.
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Now if something like FTX happens with another top exchange, you will see a large number of new victims. So a portion of crypto investors hold their funds on exchanges, which is huge risk.
We have not seen the last of collapsed and bankrupt centralized exchanges or lending and earning platforms, and there will surely be many victims when these services collapse. You would think that with every new service that collapses, people will learn to only store funds in their self custody, but that is not true, so many people will always use custodial services to store their coins because they think it is more 'convenient' for them.