Sam Bankman-Fried sentenced to 25 years in prison (www.web3isgoinggreat.com)
from OfficerBribe@lemm.ee to buttcoin@awful.systems on 28 Mar 2024 17:16
https://lemm.ee/post/28051522

#buttcoin

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db0@lemmy.dbzer0.com on 28 Mar 2024 17:46 next collapse

Boo, I was hoping for 40. He’ll get out early enough to scam more.

SuckMyWang@lemmy.world on 28 Mar 2024 17:52 next collapse

This is probably to satisfy the public. He’ll probably get closer from 5-10 and the rest will be watered down on appeals

Entropywins@kbin.social on 28 Mar 2024 19:27 collapse

He is going to federal prison, which means he needs to serve 85% of his sentence or 21.25 years minimum.

michael@westergaard.social on 28 Mar 2024 19:30 collapse
Not according to CNN:

""SBF may serve as little as 12.5 years, if he gets all of the jailhouse credit available to him," Mitchell Epner, a former federal prosecutor, told CNN.

Since 2018, however, nonviolent federal inmates can reduce their sentence by as much as 50% under prison reform legislation known as the First Step Act."

edition.cnn.com/business/live-news/sam-bankman-fried-sentencing-03-28-24/h_538da92aa954d1035036db11ba53b4a8
SuckMyWang@lemmy.world on 29 Mar 2024 22:33 collapse

The last 7.5 years will probably be at home detention

sonori@beehaw.org on 28 Mar 2024 17:57 next collapse

How much you want to bet that he is let out within fifteen for ‘good behavior’, ‘demonstrated an earnest commitment to changing his ways’ and the other reasons listed as to why wealthy people don’t spend long in prison.

db0@lemmy.dbzer0.com on 28 Mar 2024 17:58 collapse

Far as I heard, reduction can only ever go down to 21

sonori@beehaw.org on 28 Mar 2024 18:01 collapse

Hua, that’s seems surprising little for a non violent offender not involved in drugs.

dgerard@awful.systems on 28 Mar 2024 19:55 collapse

he’ll likely get low security and probably not horribly far from his parents’ house

edit: judge has asked for medium security and as close to his parents’ house as possible.

[deleted] on 28 Mar 2024 18:04 next collapse
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db0@lemmy.dbzer0.com on 28 Mar 2024 18:18 next collapse

Sure, I’d rather Sam spent the rest of his life making up to his victims through public service works.

BruceTwarzen@kbin.social on 28 Mar 2024 18:31 collapse

His poor billionaire victims

SomeoneSomewhere@lemmy.nz on 28 Mar 2024 19:30 collapse

Were there not a fair pile of ‘mom and pop’ / young idiot ‘investors’ who got on the hype train and put in thousands or tens of thousands?

ThrowawayPermanente@sh.itjust.works on 28 Mar 2024 19:55 collapse

That was probably the large majority. Anybody who knew what they were doing didn’t leave their money on FTX.

dgerard@awful.systems on 28 Mar 2024 21:49 collapse

the fall of FTX took out large swathes of the remaining crypto economy, especially in Africa. Everyone just used FTX as a shitty bank.

but then, if they knew what they were doing, they wouldn’t have gone near crypto

ThrowawayPermanente@sh.itjust.works on 28 Mar 2024 23:31 collapse

Well yeah, you’re right, it was more than just an exchange failing

froztbyte@awful.systems on 29 Mar 2024 23:52 collapse

you know, this is a pretty good point (and I think the rest of my thoughts align with what david’s mentioned elsewhere in some of the threads)

thechadwick@lemmy.world on 28 Mar 2024 23:52 collapse

But be 25 years behind all the other scammers in the meantime at least

dgerard@awful.systems on 29 Mar 2024 15:47 collapse

none of the scams are new, he’ll adapt

doublejay1999@lemmy.world on 28 Mar 2024 18:15 next collapse

If the prosecution don’t appeal this, you can know the fix is in.

Madoff got like 150 years.

dgerard@awful.systems on 28 Mar 2024 19:56 collapse

i think they’ll go “fine, whatever. which crook is next”

(that would be CZ)

answersplease77@lemmy.world on 28 Mar 2024 18:17 next collapse

He has at least stashed hundreds of bitcoins and get out multi billionare. So in 25 yrs he will rug bull the crypto market in revenage

AcausalRobotGod@awful.systems on 28 Mar 2024 19:53 next collapse

This 25 year portion is going to be really easy to simulate!

V0ldek@awful.systems on 29 Mar 2024 03:50 collapse

From the defense lawyer’s statement (after Molly White) :

Really, he’s an awkward math nerd. He thinks in probabilities about everything. He speaks in expected value calculations. He loves video games and veganism (…)

Those are aggravating circumstances. If I’m the judge that’s +10yrs just for “he speaks in EV calculations”.