Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: ABCbits on March 03, 2024, 11:09:23 AM
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Sam Bankman-Fried Cites Autism Disorder As Reason To Avoid 100 Years In Prison
In a high-profile case that has garnered considerable attention, Sam Bankman-Fried, the disgraced CEO of the now-bankrupt FTX crypto exchange, is seeking a lighter sentence, citing his autism spectrum disorder.
Bankman-Fried’s lawyers argue that his condition makes him “uniquely vulnerable” in a prison environment and should result in a reduced sentence of five to six years instead of the maximum 110-year term recommended by sentencing guidelines... Read more here (https://bitcoinist.com/sam-bankman-fried-cites-autism-disorder/).
It's annoying to see SBF use autism as excuse to reduce his punishment, which give bad perception towards autistic people. I also recall CSW also used same excuse against COPA. Your opinion is greatly appreciated.
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I don't think the court would reduce the sentence as a result of this, he and his lawyers are just making any kind of excuse they can, so they could reduce the sentence by a few years, but i honestly don't think the court would buy any of this.
Sam Bankman-Fried caused financial crisis for a lot of individuals, some of who lost everything because of how he misappropriated ftx customers' funds and used it for his own personal gain and profit, the creditors would be mad if he gets a reduced sentence because of this excuse.
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People who find themselves in difficult situations reach for all possible options, and I am not at all surprised that his lawyers go in that direction as well. The question is whether they will succeed, but even if they don't manage to reduce the sentence, maybe they will provide him with better conditions in such a way that he will serve his sentence in some institution where he will not have friends like in the photo ::)
(https://www.talkimg.com/images/2024/03/03/yHpHl.png)
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It's annoying to see SBF use autism as excuse to reduce his punishment, which give bad perception towards autistic people. I also recall CSW also used same excuse against COPA. Your opinion is greatly appreciated.
Well, they can always find a loophole in the law that can help them reduce their sentence, but the question is will the court approve it?
From 110 years to 5-6 years? I just hope that the court will not approve this one or else, it will create a negative impact on the whole crypto space hence, we might see the market going down instead of continuous upward movement.
I mean we know how much damage he caused because of what he's done in the past and with his previous company FTX.
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Sam Bankman-Fried Cites Autism Disorder As Reason To Avoid 100 Years In Prison
It is a shame that his legal team is coming up with this excuse as a way to reduce the sentence. It must be a loophole in the law that they are trying to exploit, but the judges in charge of his case understand the severity of his crimes, and may not consider it because considering a lighter sentence for him will make many of his victims aggrieved at the judgement.
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It is not really about him using it, but about if there are any examples. Is there any person in history before that got %5 of what they are charged with, for this reason? If there is, then well there is nothing that thee court can do because the precedent was already established, but if there isn't, why start now? There isn't really any tangible reason for it. I still think 110 years is a lot, I get that it means life sentence or something, but seriously, financial crimes are not really that hard, some 20 years should be fine, he will retire old man and get out and just live as a 60+ year old somewhere, can't hurt anyone at that point.
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It is a shame that his legal team is coming up with this excuse as a way to reduce the sentence. It must be a loophole in the law that they are trying to exploit, but the judges in charge of his case understand the severity of his crimes, and may not consider it because considering a lighter sentence for him will make many of his victims aggrieved at the judgement.
It is not a shame on their own part, they are paid to defend Sam Bankman-Fried, and their job is to enusre that he does not go to jail, and if he does, it should be a lesser sentence. However, i cannot see them successful here and i don't think this has anything to do with a loophole in the law, the court will decide how to handle this application by sbf's lawyers, but i am sure it would be dismissed.
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It is not a shame on their own part, they are paid to defend Sam Bankman-Fried, and their job is to enusre that he does not go to jail, and if he does, it should be a lesser sentence. However, i cannot see them successful here and i don't think this has anything to do with a loophole in the law, the court will decide how to handle this application by sbf's lawyers, but i am sure it would be dismissed.
Don't be sure about that, you can do anything with money and influence. Don't forget that Sam Bankman Fried's parents are influential and have good relationships with politicians and supported election campaigns in the United States.
With money and influence, anything can be done. Even if they do not find a legal loophole, they will find mitigating excuses for the prison term, such as claiming illness, claiming cooperation with the authorities in the investigation, claiming good behavior, or anything else. Don’t worry.
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Since the courts follow the procedures, sometimes justice is not the basis as much as adherence to the written procedures and texts. Therefore, I do not know whether the lawyers are able to reduce the sentence or not, but can any investor trust Sam Bankman-Fried after all these charges? I do not know, it is the end of the association with his name as an influential personality in cryptocurrencies.
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I think the 5-6 years prison time is the defense trying to bargain. I personally doubt they believe the court will grant that but they will be happy if their client gets less than 20 years. Taking into account the people behind Sam, there will be a lot of talks behind closed doors as both prosecutors and defense attorney find a settlement.
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With money and influence, anything can be done. Even if they do not find a legal loophole, they will find mitigating excuses for the prison term, such as claiming illness, claiming cooperation with the authorities in the investigation, claiming good behavior, or anything else. Don’t worry.
I agree, although i have doubt such excuses is enough to reduce prison-time where SBF can get out of prison before he die due to old age. After all, he's already about 30 years old while average lifespan on U.S. is close to 80 years.
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Did that supposed autism (of which I have no prior news) prevent him from being CEO of FTX?. Apparently not. Therefore, I do not see that his autism can serve as an “excuse” and thus be able to avoid the sentence that they want to impose on him. On the other hand, I think 100 years is crazy. The first thing the judiciary should do, if it has not already done so, is to seize absolutely all of Bankman-Fried's assets, whatever their type, and distribute them among those affected by the FTX bankruptcy. That would be at least one way to begin compensating those affected, although logically it would not be enough to cover everything.
I will never understand people like Bankman-Fried or the reason for acting the way he did. FTX was among the giants of the industry. Malpractice, greed, ego (here we could also name Do Kwon) make large projects bankrupt thousands of people.
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It's annoying to see SBF use autism as excuse to reduce his punishment, which give bad perception towards autistic people. I also recall CSW also used same excuse against COPA. Your opinion is greatly appreciated.
Unbelievable, so Sam had all this when he was the CEO of FTX, how unlucky he is for these to appear only after is for him to face the consequences of his actions but he didn't feel all this when he was busy donating millions into the US politics. I think the US will soon be having their next election, he should divert the remaining stolen ftx money to them, perhaps if they win they might pity him and release him. Lmoa.
He is going to do that jail, let's wait for the remaining month and see what they sentence him so as other people that are planning to follow the same path of stealing funds in crypto will have a rethink of the consequences.
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It's annoying to see SBF use autism as excuse to reduce his punishment, which give bad perception towards autistic people. I also recall CSW also used same excuse against COPA. Your opinion is greatly appreciated.
Sam must have heard the defense of Craig Wright being an autistic as a big ground and reason for greatly reduced sentence on the many crimes committed. Should this be allowed by the court then am sure other criminals would be using the same strategy and from now on heads of crypto exchange platforms should be tested if they are autistic or not. Should we then, from now on, discriminate people with autism to enter the cryptocurrency industry as they, like Sam Bankman-Fried, can be victimizing people out of their money? This case will surely have many big ramifications in the whole industry and will be cited in the possible regulations to be formulated by the governments all over the world. Sam is a big shame to people with the same condition who are actually rising from the challenges of autism.
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Crazy guy, he really wants to bail out with anything that he can reason out. I hope that the court won't allow him to use that reason because he's clearly on the right conscience when he has stolen people's money. Now, this is what he's trying to use just for him to get lighter sentence. I just hope that the judge or whoever is in the law will provide significance explanation that this guy won't be allowed to use such sensitive reasoning when he's clear upon arrest and at the time of committing the crime.
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Has it been proven that under his medical history that he has autism or not, maybe thus is just a recent update and new way of scamming the people including the government again the second time, for someone like me to believe that Sam in affected with such a medical disorder is to be completely fooled and deceived because this guy is upto something and he is playing intelligence on them all all these.
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~snip~
I will never understand people like Bankman-Fried or the reason for acting the way he did. FTX was among the giants of the industry. Malpractice, greed, ego (here we could also name Do Kwon) make large projects bankrupt thousands of people.
Bankman is just another spoiled brat who got everything in life on a silver platter, and such people have no sense of responsibility and seriousness when it comes to business. He and others like him probably live in the belief that nothing bad can happen to them because they have influential parents and rich friends, but they obviously miscalculated a bit in their games.
Therefore, anything short of a long sentence will be a defeat for the system and an encouragement for others to try to do a similar thing in the future.
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Thank you for this thread I was looking for a way hear or see the latest update this case and this has given me what I wanted. Using autism as excuse is an indirect pleading to reduce the long term sentence imprisonment. And really we all have human sympathy. Though he defrauded many but he is a human so sympathy should be given to to reduce the prison years. 110 or there about years are too much, and that means, it is life imprisonment because add those year to the years he has now then, he will stay there till get old and die in prison. Giving him some hard punishment in the prison and release him is also good so he can learn his lesson from it.
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Don't be sure about that, you can do anything with money and influence. Don't forget that Sam Bankman Fried's parents are influential and have good relationships with politicians and supported election campaigns in the United States.
I know that Sam Bankman-Fried's parents are rich and influential, but if it was possible for them to use their influence in this case, they would have ensured that sbf wasn't found guilty on the 7 counts of fraud and conspiracy, but they couldn't do that, and the jury found him guilty.
Now i don't think they would be able to reduce his sentencing that is set for the 28th day in this month, this case is really big and there are many creditors watching it very closely, so sbf is going to get ~ 100 years in prison.
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I know that Sam Bankman-Fried's parents are rich and influential, but if it was possible for them to use their influence in this case, they would have ensured that sbf wasn't found guilty on the 7 counts of fraud and conspiracy, but they couldn't do that, and the jury found him guilty.
Now i don't think they would be able to reduce his sentencing that is set for the 28th day in this month, this case is really big and there are many creditors watching it very closely, so sbf is going to get ~ 100 years in prison.
Yes, I hope that is true and that Sam Bankman-Fried will receive a prison sentence as a result of the crimes he committed, but in the United States, if you are a criminal and admit your guilt and cooperate with the authorities in the investigation and denounce your colleagues, you will receive a reduced sentence, even if you are convicted. You will spend a short period in prison and then get out.
This has happened before in two similar cryptocurrency-related cases:
Case 1: Ilya Lichtenstein went from high-profile defendant to government witness, testifying against the mixing service he used to hide assets laundered from the Bitfinex hack.
https://www.coindesk.com/policy/2024/02/27/man-who-laundered-billions-in-bitcoins-says-bitcoin-fog-was-a-help-bloomberg/
The second case is Centra Tech, a cryptocurrency company set up by two scammers in South Florida that claims to be an automated bitcoin exchange service.
Where the main criminal, "Ray Trapani," who gathered the rest of the fraudsters around him, cooperated with the federal authorities, informed his accomplices, and pleaded guilty to 10 charges, including securities fraud and Internet fraud, and was sentenced only to the time he served during the investigation. He was released (due to his cooperation with the authorities).
This case was turned into a documentary that can be watched here:
https://www.netflix.com/tudum/articles/bitconned-release-date-cast-news
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I know that Sam Bankman-Fried's parents are rich and influential, but if it was possible for them to use their influence in this case, they would have ensured that sbf wasn't found guilty on the 7 counts of fraud and conspiracy, but they couldn't do that, and the jury found him guilty.
Now i don't think they would be able to reduce his sentencing that is set for the 28th day in this month, this case is really big and there are many creditors watching it very closely, so sbf is going to get ~ 100 years in prison.
It's true that Bankman-Fried's parents are very rich and influential, but there are things that are out of reach even for those types of people. It is possible that the 100 years in prison Bankman-Fried faces is in some way an “example” for others. In any case, I think that one way or another, perhaps by resorting to loopholes or other types of legal tricks, Bankman-Fried's parents will ensure that their son does not spend too much time in prison.
Exemplary punishments have always been used by judicial courts to try to avoid similar cases in the future, something that unfortunately has not had the desired effect in any area.
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I know that Sam Bankman-Fried's parents are rich and influential, but if it was possible for them to use their influence in this case, they would have ensured that sbf wasn't found guilty on the 7 counts of fraud and conspiracy, but they couldn't do that, and the jury found him guilty.
Now i don't think they would be able to reduce his sentencing that is set for the 28th day in this month, this case is really big and there are many creditors watching it very closely, so sbf is going to get ~ 100 years in prison.
Being influential and rich has limited power when it comes to the law, the charges can be lenient but he will definitely do the jail like other criminals but the judges can be soft and lenient if the parent richness has impacted the citizen of the United state, if the influence of the parents has yielded something positive for the community they live, that is how the law works but you see the case of Sam Bankman-Fried, that man is going to jail for making people to lose billions.
Sam mistake or should I say simping to his girlfriend and US politicians cost some people their lives, it cost some people their life savings and many more and you think the US government is going to let go of that billions because of the parents when their own networth is not up to half of the amount Sam wasted, that dude will do a jail term.
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Being influential and rich has limited power when it comes to the law, the charges can be lenient but he will definitely do the jail like other criminals but the judges can be soft and lenient if the parent richness has impacted the citizen of the United state, if the influence of the parents has yielded something positive for the community they live, that is how the law works but you see the case of Sam Bankman-Fried, that man is going to jail for making people to lose billions.
Sam mistake or should I say simping to his girlfriend and US politicians cost some people their lives, it cost some people their life savings and many more and you think the US government is going to let go of that billions because of the parents when their own networth is not up to half of the amount Sam wasted, that dude will do a jail term.
It is evident that Bankman-Fried is going to spend a "long" time in prison, but I think it is also evident that this time could be reduced after a few years using other ideas, such as good faith when collaborating with justice or other stratagems, as it has already done with autism or possible health problems, I do not have any doubt. Once the sentence is signed, Bankman-Fried's lawyers will have time to argue many things, some of them meaningless, as we have seen, to get their client out of prison as soon as possible. Whether lawyers can finally get it is another thing, but I suppose it's a matter of time, money, influence and knowledge of the law.
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Don't be sure about that, you can do anything with money and influence. Don't forget that Sam Bankman Fried's parents are influential and have good relationships with politicians and supported election campaigns in the United States.
I know that Sam Bankman-Fried's parents are rich and influential, but if it was possible for them to use their influence in this case, they would have ensured that sbf wasn't found guilty on the 7 counts of fraud and conspiracy, but they couldn't do that, and the jury found him guilty.
Now i don't think they would be able to reduce his sentencing that is set for the 28th day in this month, this case is really big and there are many creditors watching it very closely, so sbf is going to get ~ 100 years in prison.
under 10 for sure. IIRC quite a bit of the missing funds were found. Makes me think he gets a lite sentence.
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under 10 for sure. IIRC quite a bit of the missing funds were found. Makes me think he gets a lite sentence.
I had not thought about that to link it with the possible causes for him to serve fewer (many fewer) years in prison. The more "missing" funds turn up, the fewer years Bankman-Fried will spend in prison. In this way, his defense could allege the good faith of the accused to return all the funds and thus demonstrate in some way that Bankman-Fried had nothing to do with what happened, or that at least, it was not he who carried out all the actions which caused the disaster and loss of funds. If the lawyers play their cards right, it is possible that, as you say, Bankman-Fried will spend less than 10 years in prison, and even less than 8.
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It didn't occur to him that he had autism when he opened a cryptocurrency exchange and used his customers' funds for nefarious purposes. The law sometimes provides special privileges for people in situations like this, but if these special privileges are used for Sam, we will undoubtedly see an abuse of the law. I hope they don't succeed in fooling the judge in the case...
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It's annoying to see SBF use autism as excuse to reduce his punishment, which give bad perception towards autistic people. I also recall CSW also used same excuse against COPA. Your opinion is greatly appreciated.
Sam's lawyers are very wise to think of a way to reduce his prison time from 110 to 5 to 6 years I think that's not fair, having this kind of disorder should not be an excuse to commit a crime the prison authorities can make the prison environment friendly for people who suffer from this kind of disorder.
It's unfair for the victims that after a few years, he is free again and free to use the money he scammed from people.
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March 28, which is the date for sbf's sentencing is drawing close, the prosecutors have said today[1] that sbf should receive at least 40 or 50 years, they also said that sending sbf to prison for the rest of his life was not warranted, because of his young age:
But prosecutors said in the filing that sending him to prison for the rest of his life was not warranted, despite the severity of his crime, because of his relative youth.
Soon we would find out how many years sbf would get, it is getting harder to predict.
[1] https://www.nytimes.com/2024/03/15/technology/sam-bankman-fried-sentencing.html#:~:text=
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I believe that the only thing that can reduce prison years is the return of all funds to users. I don't think the autism excuse is of much use to lawyers as it has an opposite interpretation when he founded the exchange, so the prosecution can dismantle it in seconds. Returning all the funds, apologizing publicly and spending a few years in jail (not many years) is what could happen. We will see what the final verdict is in a few days.
The added problem is that I do not know, since I have not read precise information, the amount of recovered funds that can be returned to their rightful owners, and that could be the reason why this idea, if it has been considered by the lawyers, does not have the expected effect.
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I believe that the only thing that can reduce prison years is the return of all funds to users.
That one cannot happen, it is going to take a long time before the creditors can get something back, and they are surely not going to get 100% of what they lost. Look at other centralized exchanges and lending and earning platforms that have collapsed, the process to return funds to customers is a long and frustrating one, and everyone should avoid that situation and store their funds only in self custodial wallets.
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I always said if you want to discover what's wrong with one person, don't send him to the hospital, just send him to a trial. Everyone suddenly realizes he is eitehr autistic, he has cancer, he has 2 years to live, that she is pregnant, and so on!
On the other hand, I think 100 years is crazy. The first thing the judiciary should do, if it has not already done so, is to seize absolutely all of Bankman-Fried's assets, whatever their type, and distribute them among those affected by the FTX bankruptcy. That would be at least one way to begin compensating those affected, although logically it would not be enough to cover everything.
Actually, quite funny, due to the rise in the price of the coins FTX still had in its custody in December, if we talk only value in $ at the moment of the crash FTX managed to get quite a lot of money back, around 7 billion in their three liquidations paces.
If you look at the current value of the said coins, yeah it's a bit of a disaster but in $ it's not really as bad as it was anticipated.
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March 28, which is the date for sbf's sentencing is drawing close, the prosecutors have said today[1] that sbf should receive at least 40 or 50 years, they also said that sending sbf to prison for the rest of his life was not warranted, because of his young age:
But prosecutors said in the filing that sending him to prison for the rest of his life was not warranted, despite the severity of his crime, because of his relative youth.
Soon we would find out how many years sbf would get, it is getting harder to predict.
[1] https://www.nytimes.com/2024/03/15/technology/sam-bankman-fried-sentencing.html#:~:text=
That is coming from defense, SBF is rich, his family is influential I think that judge might be swayed by it. But if SBF is just a regular criminal, then maybe he will get worst than that. We've seen the system of the US being in-justice as times, giving lengthy prison sentence.
And his lawyers played the autism card here, so this might work or might backfire on them but we will see. Of course returning the money to the affected will be the number 1 thing that prosecutors are looking and maybe they will have to work with SBF and seized all his assets or even what's left of the FTX funds as of this time to compensate all the victims. We don't want this to drag for so long like the Mt. Gox that still haunts us up to this day.
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I believe that the only thing that can reduce prison years is the return of all funds to users.
That one cannot happen, it is going to take a long time before the creditors can get something back, and they are surely not going to get 100% of what they lost. Look at other centralized exchanges and lending and earning platforms that have collapsed, the process to return funds to customers is a long and frustrating one, and everyone should avoid that situation and store their funds only in self custodial wallets.
And with such long time time, even returning 100% of all customer's fund won't cover all the loss. By loss i refer to many things such as inflation, impact on mental/physical health and any loan interest/fee they had to take.
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That one cannot happen, it is going to take a long time before the creditors can get something back, and they are surely not going to get 100% of what they lost. Look at other centralized exchanges and lending and earning platforms that have collapsed, the process to return funds to customers is a long and frustrating one, and everyone should avoid that situation and store their funds only in self custodial wallets.
I know. I know that process would be very slow. Unfortunately I have experience, I saw the Mt.Gox disaster, it didn't affect me directly but it did affect some people I know. So I know that it would be a long process and that those affected will never be able to recover 100% of their funds, but if FTX could somehow return as much of those funds as possible, it is possible that Sam Bankman-Fried could get a possible reduction of the years he must remain in prison. That is the job of lawyers, to try in any way to reduce those years.
In any case, I don't know how many funds have been recovered or if they have plans to recover them, since they are most likely spread across many accounts, which would make the process even longer and more expensive.
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Today we found out that Bankman received "only" 25 years in prison, which for me is a rather small sentence considering the damage caused by his company. I assume that he will not serve those 25 years in full, and that is something that will certainly disappoint many, given that he was facing a sentence of up to 100 years in prison.
https://www.coindesk.com/policy/2024/03/28/sam-bankman-fried-ftx-sentencing/
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Today we found out that Bankman received "only" 25 years in prison, which for me is a rather small sentence considering the damage caused by his company. I assume that he will not serve those 25 years in full, and that is something that will certainly disappoint many, given that he was facing a sentence of up to 100 years in prison.
https://www.coindesk.com/policy/2024/03/28/sam-bankman-fried-ftx-sentencing/
I'd like to know how many of those 25 years he's actually going to spend in prison, because I'm sure Bankman-Fried isn't going to spend 25 years in a jail cell. Good conduct, inability to flee the country, sincere intention to repair the damage caused...Those will be some of the arguments of his lawyers in a very short time, so that he spends as little time as possible inside jail. Bankman-Fried's best thing to do, while not 100% possible, would be to return the funds to the affected users, but that's never going to happen. Fortunately, the FTX case didn't affect me directly, but I know people who are having a very hard time, and I know that those 25 years seem few to them.
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I don't get the logic. Like if you are Autistic, does that mean that you can commit any crime you want and other shouldn't be any type of criminal charges against you? Or at least less than it should be? If you have the capability to commit the crime with the same autism then you should be also making sure that you are doing it well enough at prison as well. You should be considering the situation as equal to crime that was committed. What he did was something that impacted tens of thousands of people, and if he doesn't get the prison time, then all autistic people can go out and do whatever they want.
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He got 'only' 25 years in jail, i am so sure so many of the creditors would be going mad right now, so many of them thought he would be sentenced to ~ 100 years in jail, and i thought he would get at least 40-50. But 25 years does not seem like a fair punishment for the crimes that were committed and i am not sure if it is enough as a deterrent to others.
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He got 'only' 25 years in jail, i am so sure so many of the creditors would be going mad right now, so many of them thought he would be sentenced to ~ 100 years in jail, and i thought he would get at least 40-50. But 25 years does not seem like a fair punishment for the crimes that were committed and i am not sure if it is enough as a deterrent to others.
Yeah, I also do not agree with the decision, it's like the guy will just wait and relax all through those 25 years and get to enjoy the billions he stole after he gets out, worse is if he gets parole for a shorter term, it seems Sam has a good battery of lawyers for him to get that short sentence, but he is living a risky life because so many people are aware of was he has done and he could be targeted inside the jail.
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but he is living a risky life because so many people are aware of was he has done and he could be targeted inside the jail.
I don't think that is going to be a problem, sbf is not going to share a cell with dangerous criminals. His family is rich, so i am sure they will pay for his protection while in prison and he would get certain privileges there, isn't that what the rich enjoy when they are sentenced to prison?
The creditors should learn from this, they are a long way from getting their money back and the one behind it all got 25 years in prison; store your coins only in self custody, so as not to experience this.
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but he is living a risky life because so many people are aware of was he has done and he could be targeted inside the jail.
I don't think that is going to be a problem, sbf is not going to share a cell with dangerous criminals. His family is rich, so i am sure they will pay for his protection while in prison and he would get certain privileges there, isn't that what the rich enjoy when they are sentenced to prison?
I don't know the prison conditions in the state but I'm sure there will be corrupt officials that will protect him, he will have to spend money for his protection all through his 25 years in prison and that's going to cost him, not only for his wardens but also from people in the prisons
The creditors should learn from this, they are a long way from getting their money back and the one behind it all got 25 years in prison; store your coins only in self custody, so as not to experience this.
We will all learn from this and investors will be wiser in where to put the money to avoid getting in the same scenario as Sam Bankman-Fried company.
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I don't get the logic. Like if you are Autistic, does that mean that you can commit any crime you want and other shouldn't be any type of criminal charges against you? Or at least less than it should be? If you have the capability to commit the crime with the same autism then you should be also making sure that you are doing it well enough at prison as well. You should be considering the situation as equal to crime that was committed. What he did was something that impacted tens of thousands of people, and if he doesn't get the prison time, then all autistic people can go out and do whatever they want.
Logic can't be applied to a case like this, as Bankman-Fried's supposed autism argument is nothing more than an excuse to avoid jail or reduce the years he should be in prison. A desperate attempt, after using (unsuccessfully) all other arguments. I agree with other users, and people affected by FTX that I know, that those 25 years are a short time, since as I said, Bankman-Fried is not going to be in jail for 25 years. He has very good lawyers who have already managed to get only 25 years out of the 100 years that the prosecution was asking for. Now they will continue to work to reduce those years.
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but he is living a risky life because so many people are aware of was he has done and he could be targeted inside the jail.
I don't think that is going to be a problem, sbf is not going to share a cell with dangerous criminals. His family is rich, so i am sure they will pay for his protection while in prison and he would get certain privileges there, isn't that what the rich enjoy when they are sentenced to prison?
The creditors should learn from this, they are a long way from getting their money back and the one behind it all got 25 years in prison; store your coins only in self custody, so as not to experience this.
i thought so too. his parents is also rich and has friends from high places. he might just even be in a house arrest and still living normally but guarded unless he'd be useless already for those behind him and so he'll just hang himself like Jeffrey.
he has autism, i don't see him going to last sitting down along with the hardened criminals or his ass will be fucked in that case.
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I'd like to know how many of those 25 years he's actually going to spend in prison, because I'm sure Bankman-Fried isn't going to spend 25 years in a jail cell. Good conduct, inability to flee the country, sincere intention to repair the damage caused...Those will be some of the arguments of his lawyers in a very short time, so that he spends as little time as possible inside jail. Bankman-Fried's best thing to do, while not 100% possible, would be to return the funds to the affected users, but that's never going to happen. Fortunately, the FTX case didn't affect me directly, but I know people who are having a very hard time, and I know that those 25 years seem few to them.
If there was an option for betting, I would say no more than 15-16 years, and that would be 2/3 of the sentence, but I read that prisoners in the US have the possibility of collecting some credits for good behavior and the like, and that on the basis of those credits they can reduce the time in jail.
I think that such a low sentence (considering the maximum possible) is the result of the fact that Bankman is not just anyone, he has influential parents, and a lot of influential friends (politicians) whose pockets he filled for years. I believe that they will help him in all possible ways - and I would not be surprised if at some point the president himself pardons him.
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I'd like to know how many of those 25 years he's actually going to spend in prison, because I'm sure Bankman-Fried isn't going to spend 25 years in a jail cell. Good conduct, inability to flee the country, sincere intention to repair the damage caused...Those will be some of the arguments of his lawyers in a very short time, so that he spends as little time as possible inside jail. Bankman-Fried's best thing to do, while not 100% possible, would be to return the funds to the affected users, but that's never going to happen. Fortunately, the FTX case didn't affect me directly, but I know people who are having a very hard time, and I know that those 25 years seem few to them.
He is 32 if he does 13-17 years he will be under 50 and free. I read 7.? OF 9 billion was found making 1-2 billion missing. I would like to be 49 and have a billion stashed away.
If there was an option for betting, I would say no more than 15-16 years, and that would be 2/3 of the sentence, but I read that prisoners in the US have the possibility of collecting some credits for good behavior and the like, and that on the basis of those credits they can reduce the time in jail.
I think that such a low sentence (considering the maximum possible) is the result of the fact that Bankman is not just anyone, he has influential parents, and a lot of influential friends (politicians) whose pockets he filled for years. I believe that they will help him in all possible ways - and I would not be surprised if at some point the president himself pardons him.
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he has autism, i don't see him going to last sitting down along with the hardened criminals or his ass will be fucked in that case.
His parents and influential people he knows would not allow that to happen, at the end of the day the rich and powerful often get preferential treatment in most things, and in the case of sbf, it just started with the sentencing. Now i am sure it will extend to how he spends these years in jail, that is if he even spends close to the 25 years and if they don't find a way to get him out in half of that time.
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he has autism, i don't see him going to last sitting down along with the hardened criminals or his ass will be fucked in that case.
His parents and influential people he knows would not allow that to happen, at the end of the day the rich and powerful often get preferential treatment in most things, and in the case of sbf, it just started with the sentencing. Now i am sure it will extend to how he spends these years in jail, that is if he even spends close to the 25 years and if they don't find a way to get him out in half of that time.
I have this feeling that the autism issue is one of the considerations why he only had 25 years besides the recoverable funds, a man's disorders will always have an impact on his sentence, some people act crazy or have mental disorders to escape being sentenced and instead admitted to a mental facility where the situation is preferable then getting locked up in prison and the sentence cuts shorts if the treatment is successful
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I'd like to know how many of those 25 years he's actually going to spend in prison, because I'm sure Bankman-Fried isn't going to spend 25 years in a jail cell. Good conduct, inability to flee the country, sincere intention to repair the damage caused...
He will serve at least 20 years.
I looked everywhere why everyone was talking about the possible reduction and yes he can't go under 20 years, despite the reform because he was convicted on 3 counts on concurrently time.
https://www.courtlistener.com/docket/66631291/united-states-v-bankman-fried/?order_by=desc
Unless he manages to get some real reduction (not by just painting in prison or being a good guy) so real health problems or going mad there he won't get away with less than 20.
Bankman-Fried's best thing to do, while not 100% possible, would be to return the funds to the affected users, but that's never going to happen. Fortunately, the FTX case didn't affect me directly, but I know people who are having a very hard time, and I know that those 25 years seem few to them.
Part of the money are still there, that's why he didn't get 50 years.
FTX and FTX US had an estimated $8.7 billion combined shortfall at the time the crypto firm filed for bankruptcy. Roughly $6.9 billion of that shortfall, including a Bahamas real-estate portfolio, had been recovered as of September.
The us got from him around 700 millions in assets, including getting back two villas gifted and other properties in Bahamas (?), they even seized some cryptos from his Binance account. In $ terms the ftx customers will probably lose 25-30% of their value at max.
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I have this feeling that the autism issue is one of the considerations why he only had 25 years besides the recoverable funds, a man's disorders will always have an impact on his sentence, some people act crazy or have mental disorders to escape being sentenced and instead admitted to a mental facility where the situation is preferable then getting locked up in prison and the sentence cuts shorts if the treatment is successful
Of course, his claim of being autistic got some impact on the final judgment and the way he will be treated in a prison facility. This is a very common and popular legal strategy and with mental health now being recognized well the court has no choice but to reduce the possible prison terms for SBF. Even Craig Wright used this strategy as well in one of his court cases. Next time around, somebody would be claiming insanity and even gotten possessed by an evil spirit for doing bad while in business with crypto. As for me, he should get at least 50 years in prison with parole only possible after 30 years for good behavior and for returning the money from the investors and users of FTX. We should be sending a strong message to all prospective scammers in the cryptocurrency industry that even with the use of the blockchain technology it does not mean that anybody can abuse the trust bestowed on them. This case should also be one of the basis why USA has the need to pass a comprehensive and acceptable regulatory framework for all players in the industry to abide.
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I'd like to know how many of those 25 years he's actually going to spend in prison, because I'm sure Bankman-Fried isn't going to spend 25 years in a jail cell. Good conduct, inability to flee the country, sincere intention to repair the damage caused...Those will be some of the arguments of his lawyers in a very short time, so that he spends as little time as possible inside jail. Bankman-Fried's best thing to do, while not 100% possible, would be to return the funds to the affected users, but that's never going to happen. Fortunately, the FTX case didn't affect me directly, but I know people who are having a very hard time, and I know that those 25 years seem few to them.
He is 32 if he does 13-17 years he will be under 50 and free. I read 7.? OF 9 billion was found making 1-2 billion missing. I would like to be 49 and have a billion stashed away.
If there was an option for betting, I would say no more than 15-16 years, and that would be 2/3 of the sentence, but I read that prisoners in the US have the possibility of collecting some credits for good behavior and the like, and that on the basis of those credits they can reduce the time in jail.
I think that such a low sentence (considering the maximum possible) is the result of the fact that Bankman is not just anyone, he has influential parents, and a lot of influential friends (politicians) whose pockets he filled for years. I believe that they will help him in all possible ways - and I would not be surprised if at some point the president himself pardons him.
7 years still doesn't seem crazy to me, keep in mind that a lot can still happen, and Bankman-Fried's lawyers can make a lot of allegations to try to reduce the years. As you say, Bankman-Fried is not just any citizen, as his family has power and money, so all that together with the credits you mention, and some outside help (parental contacts) can make those 7 years, or 10, not so far away. If you want to bet, I'd say Bankman-Fried will get out of jail when he's 45 or even a little earlier. But like I say, anything can happen.