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[TheMan]

Verdict reached in Sam Bankman-Fried fraud trial | CNN Business

The jury has reached a verdict in the fraud trial of former FTX CEO Sam Bankman-Fried.

www.cnn.com

Just 4.5 hours of deliberation

 

[Revoh]

Play stupid games, win stupid prizes

 

[HoodWinked]

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

two counts of wire fraud conspiracy;
two counts of wire fraud;
one count of conspiracy to commit money laundering;
one count of conspiracy to commit commodities fraud;
and one count of conspiracy to commit securities fraud.

 

[AJUMP23]

Where is the money?

Where is the money........

 

[HoodWinked]

Where is the money?

Where is the money........

 

[ThatStupidLion]

 

[XXL]

 

[newtypepilot]

Totally deserved for SBF but his parents played a big part in this if you read into what happened.

 

[ProtoByte]

Totally deserved for SBF but his parents played a big part in this if you read into what happened.

You mean his mother with all those NGOs that contributed money and service to multiple DNC campaigns?

Yeah, you can forget about the campaign finance side of all this; it won't get any attention because they dropped those charges, and the wider network that buffered SBF and FTX as a whole is deeply entrenched in the halls of politics. They'll lock him up and throw away the key because he's no longer useful.

 

[mitch1971]

Sam Bankman-Fried​

Nominative determinism at it's finest.

 

[gothmog]

He deserves it but in all honesty if his company was sponsored by the banking system he would have gotten a fine and that's about it.

 

[Nobody_Important]

He broke the #1 rule of the financial world. You can fuck with the money belonging to the poors and the middle class. That's a slap on the wrist. That is a fine from the SEC. No worries. You do you Wolfie. However you cannot under any circumstances fuck with the money belonging to the rich and the upper class. You don't fuck with the cash of big business.


You will get caught. You will get the book thrown at you. You will be looking over your shoulder in prison for the foreseeable future.

 

[EviLore]

RIP “Effective Altruism”

 

[M.W.]

Dude looks like Jonah Labeouf

 

[SJRB]

Looking forward to the inevitable David Fincher movie 5 years from now.

 

[EviLore]

Looking forward to the inevitable David Fincher movie 5 years from now.

Jonah Hill as SBF

Paul Dano as Caroline Ellison

 

[BadBurger]

I'm not even a hugely active investor but I remember reading warning signs years back.

 

[thefool]

After finding out more about his parents and their direct involvement in this, I don't absolve him or anything, but kinda feel bad kids can have shit people like that educating them and creating these monsters.

Sam was a serial scammer, never let anyone say otherwise, even if FTX depositors recovery is looking brighter.

 

[nemiroff]

Of course a lot of stuff could be considered "imaginary value" (like diamonds which infamously started as a marketing ploy), but this basement kid crypto nft imaginary "make up your own number, anything goes" value era has been something else..

 

[Kenpachii]

The sentencing hearing date will be March 28, 2024. He faces up to 110 years in prison.

Holy fuck that's a sentence.

 

[dave_d]

He broke the #1 rule of the financial world. You can fuck with the money belonging to the poors and the middle class. That's a slap on the wrist. That is a fine from the SEC. No worries. You do you Wolfie. However you cannot under any circumstances fuck with the money belonging to the rich and the upper class. You don't fuck with the cash of big business.


You will get caught. You will get the book thrown at you. You will be looking over your shoulder in prison for the foreseeable future.

Yeah, we call that the Madoff rule.

 

[Bitmap Frogs]

If I may: a youtuber called Patrick Boyle who claims to have been hedge fund manager, university professor and investment banker has a series of videos on the FTX collapse and they're entertaining and informative. He even interviews the author of Number Go Up, a book about the crypto mania that was published recently:



Enjoy!

 

[ahtlas7]

Good that he’s going away for a long time but

“…Ellison, Wang, and Singh, who testified against Bankman-Fried (SBF), are likely to receive very light or even no prison sentences, according to several lawyers familiar with the case.”

 

[EviLore]

 

[BlueAlpaca]

I hope they have Shakespeare in prison.

 

[Kenpachii]

Not going to lie, if i would be locked up 110 years, i would either flee, or just off myself. What's the fucking point sitting in jail and just accepting that. This is also why i don't believe 110 year sentences are that useful, they are just dead sentences.

 

[BlueAlpaca]

Not going to lie, if i would be locked up 110 years, i would either flee, or just off myself. What's the fucking point sitting in jail and just accepting that. This is also why i don't believe 110 year sentences are that useful, they are just dead sentences.

They should offer prisoners a Swiss Suicide Pod option. Just go to sleep and leave this world.

 

[DKehoe]

 

[Cyberpunkd]

He broke the #1 rule of the financial world. You can fuck with the money belonging to the poors and the middle class. That's a slap on the wrist. That is a fine from the SEC. No worries. You do you Wolfie. However you cannot under any circumstances fuck with the money belonging to the rich and the upper class. You don't fuck with the cash of big business.


You will get caught. You will get the book thrown at you. You will be looking over your shoulder in prison for the foreseeable future.

 

[GeekyDad]

A 110 years, eh. Too bad it wasn't for murder. He mighta got off with 5.