Sam Bankman-Fried Sentenced to 25 Years(bbc.co.uk)
bbc.co.uk
Sam Bankman-Fried Sentenced to 25 Years
https://www.bbc.co.uk/news/live/world-us-canada-68656415
37 comments
Dupe [https://news.ycombinator.com/item?id=39852953]
25 years for stealing billions, life for running a website where people broke the law.
Justice inc.
Justice inc.
https://en.wikipedia.org/wiki/Ross_Ulbricht
> The evidence that Ulbricht had commissioned murders was considered by the judge in sentencing Ulbricht to life and was a factor in the Second Circuit's decision to uphold the sentence.
If this is what you are referring to...
Commissioning murders makes him quite a dangerous person.
> The evidence that Ulbricht had commissioned murders was considered by the judge in sentencing Ulbricht to life and was a factor in the Second Circuit's decision to uphold the sentence.
If this is what you are referring to...
Commissioning murders makes him quite a dangerous person.
In fairness, even 25 years is more than they give the average murderer.
https://www.ussc.gov/sites/default/files/pdf/research-and-pu...
You could quite reasonably argue that SBF's sentence was, if anything, excessive. And, by extension, that Ulbricht's was simply grotesque.
https://www.ussc.gov/sites/default/files/pdf/research-and-pu...
You could quite reasonably argue that SBF's sentence was, if anything, excessive. And, by extension, that Ulbricht's was simply grotesque.
Sam Bankman-Fried defrauded people. He didn’t intentionally create a digital black market, where everything from hit jobs, narcotics, poison, weapons, and human trafficking could (and were) conducted.
And since there are many well-known marketplaces for legal activities (eBay, Craigslist, Kijiji, Facebook Marketplace, AutoTrader.com, need I go on?) then the only defining feature was that this was a black market.
One cannot “accidentally” do this. So yes, aiding and abetting countless crimes and possibly murder —> life sentence.
In that context do you still find it unjust?
And since there are many well-known marketplaces for legal activities (eBay, Craigslist, Kijiji, Facebook Marketplace, AutoTrader.com, need I go on?) then the only defining feature was that this was a black market.
One cannot “accidentally” do this. So yes, aiding and abetting countless crimes and possibly murder —> life sentence.
In that context do you still find it unjust?
It’s not about justice. It’s all about who you know.
More like they robbed rich, which is no-no. Robbing poor is ok.
Are you comparing FTX to Silk Road?
...didn't the Silk Road guy (which is what I assume you're referencing) also hire assassins to attack his criminal-enterprise opponents?
Was he convicted of that?
[deleted]
He "hired" an FBI agent to kill another (non existing) FBI agent after being extorted and lied to by an FBI agent.
But keep repeating the "truth" til it becomes facts.
Remember the autistic kids that get set up by the FBI?
That, but virtually.
But keep repeating the "truth" til it becomes facts.
Remember the autistic kids that get set up by the FBI?
That, but virtually.
Maybe I’m misunderstanding but are you suggesting that because he unknowingly hired a fake assassin, it’s not as bad of a crime?
[deleted]
I mean, the transcripts don't look great even if it turns out that he was actually talking to a FBI agent who never actually did anything about it:
> Dread Pirate Roberts 3/31/2013 8:59: Don't want to be a pain here, but the price seems high. Not long ago, I had a clean hit done for $80k. Are the prices you quoted the best you can do?
https://www.wired.com/2015/02/read-transcript-silk-roads-bos...
> Dread Pirate Roberts 3/31/2013 8:59: Don't want to be a pain here, but the price seems high. Not long ago, I had a clean hit done for $80k. Are the prices you quoted the best you can do?
https://www.wired.com/2015/02/read-transcript-silk-roads-bos...
joeybloey(1)
now do and calcualte how many years Sam Trabucco of alameda got? hint, first word is z
Duplicate story also on the front page: https://news.ycombinator.com/item?id=39852953
Bernie Madoff got 150 years and I believe most (a lot of?) people got their money back. If being rich and powerful buys you "justice", where did Bernie fail?
> most (a lot of?) people got their money back
On average people got 70% of their money back I believe. However the story is way more complicated than that.
Most Madoff investors put their money in decades before, saw 20+ years of growth, and took out dividends over those years. Most investors were pensioners living off their dividends.
When the team came in to clear up the mess at the end, they redistributed the money according to pay-ins and pay-outs. So, imagine you put $1m into the fund in 1985, took $100k out per year, and in 2005, 20 years later, still had >$1m in the fund. In ~2010, the restructuring team would sue you for $1m because you had taken out $2m after putting in only $1m. But you don't have that money, all you've got is a house and a reasonable yearly salary. Unfortunately many people lost their houses and other assets because they had taken out more than their original contribution over the >20 year period.
Even if you didn't take anything out, people bet the rest of their financial lives on the fact that their initial contribution had gone up. Only counting for inflation, getting back their initial investment would be a terrible financial outcome, but accounting for what they reasonably thought they had, this would still be ruinous.
This is all why FTX saying people might get back their money is a terribly misleading statement.
On average people got 70% of their money back I believe. However the story is way more complicated than that.
Most Madoff investors put their money in decades before, saw 20+ years of growth, and took out dividends over those years. Most investors were pensioners living off their dividends.
When the team came in to clear up the mess at the end, they redistributed the money according to pay-ins and pay-outs. So, imagine you put $1m into the fund in 1985, took $100k out per year, and in 2005, 20 years later, still had >$1m in the fund. In ~2010, the restructuring team would sue you for $1m because you had taken out $2m after putting in only $1m. But you don't have that money, all you've got is a house and a reasonable yearly salary. Unfortunately many people lost their houses and other assets because they had taken out more than their original contribution over the >20 year period.
Even if you didn't take anything out, people bet the rest of their financial lives on the fact that their initial contribution had gone up. Only counting for inflation, getting back their initial investment would be a terrible financial outcome, but accounting for what they reasonably thought they had, this would still be ruinous.
This is all why FTX saying people might get back their money is a terribly misleading statement.
Madoff's investors lost massively compared to investing in index funds.
He scammed too many other rich and powerful people I think. Just stick with scamming the commoners and you'll be fine :)
Madoff destroyed families, and folks lifetime savings
He ripped off the rich and powerful.
Why should it make a difference to your sentence whether or not your victims get their money back?
He made rich people lose money.
Many of his victims were rich and powerful - it was an affinity fraud.
[deleted]
Wasn't he recommended to get a 100yr sentence previously?? 25 years is a pittance for the scale of crime he committed. People get life for less
[deleted]
[deleted]
Scam Bankrun-Fraud? Couldn’t happen to a nicer person.
[deleted]
Yeah there is a known cheat code that he used
- Donate millions to the political party of your choice.( Preferably both) - Hire the best lawyers money can buy. - Avoid life sentence that peasants get for much simpler crimes.
- Donate millions to the political party of your choice.( Preferably both) - Hire the best lawyers money can buy. - Avoid life sentence that peasants get for much simpler crimes.