Sammy doesn't like the non-vegan "options" served while in confinement. He should have probably arranged with the chef before his incarceration. I am certain there is universal sympathy for his plight.

https://www.reuters.com/legal/...new-plea-2023-08-22/

quote:

what’s your analysis of these changing events?

I was confused by some of the latest reports. It sounded like the prosecutors were going to reinstate the count regarding campaign finance law violation.

But the original count 8 "Conspiracy to Defraud the United States and Violate the Campaign Finance Laws" has indeed been dropped.

How much it goes rolled into the remaining 7 counts is not clear.

Being quite untrusting of the DoJ, I suspect this might be an attempt to lower the publicity of the SBF contributions to the Democrats.

This type of publicity could raise the pressure for the politicians to return those donations, or even raise questions why DoJ isn't going after that money and pulling it back.

SBF Used Customer Funds To Donate To Democrats Through "Straw Donor" Scheme, Former FTX Engineer Testifies

https://www.zerohedge.com/mark...-former-ftx-engineer

One of Sam Bankman-Fried's colleagues and former FTX Engineering Chief, Nishad Singh, testified on Monday that the FTX head used money from his Alameda Research hedge fund to make political donations even after learning it owed $13 billion to customers of FTX.

Put simply, Bankman-Fried was using customer funds to make political donations to Democrats, according to the testimony.

Singh said that when he found out about the shortfall, he confront SBF in an hour long conversation in September 2022, according to Yahoo Finance. In that conversation, SBF told him that he was going to raise more cash and cut expenses.

However, Singh then said that in the interim, "he continued to receive transfers from Alameda and allow Bankman-Fried associates to use the money to donate to U.S. Democratic candidates".

According to the report, Singh called it a "straw donor" scheme.

Singh said: "There was an enormous hole. Alameda sending me money to spend ... necessarily deepened that hole."

Singh's testimony, following his guilty plea for wire fraud and conspiracy to violate campaign finance laws in February, provided the jury with a glimpse into the spending habits of Bankman-Fried, Yahoo noted.

quote:

Originally posted by wcb6092:
Put simply, Bankman-Fried was using customer funds to make political donations to Democrats, according to the testimony.

Singh said that when he found out about the shortfall, he confront SBF in an hour long conversation in September 2022, according to Yahoo Finance. In that conversation, SBF told him that he was going to raise more cash and cut expenses.

However, Singh then said that in the interim, "he continued to receive transfers from Alameda and allow Bankman-Fried associates to use the money to donate to U.S. Democratic candidates".

Now we're getting into the meat of things

quote:

Originally posted by sdy:

Being quite untrusting of the DoJ, I suspect this might be an attempt to lower the publicity of the SBF contributions to the Democrats.

This type of publicity could raise the pressure for the politicians to return those donations, or even raise questions why DoJ isn't going after that money and pulling it back.

Given the statements from Singh, we'll see how far prosecutors peel the onion back and expose things.

quote:

Originally posted by nhracecraft:
This would appear to be WAY worse than Madoff, in that it wasn't even a Ponzi scheme, but rather flat out fraud, and theft of client funds by Leftist Imbeciles!

So...like BLM then.

Prosecutor ‘pressured’ by Bob Menendez is probed over ‘favor’ for Sam Bankman-Fried

Protect Our Future, a super PAC funded primarily by Bankman-Fried, doled out $250,000 in 2022 to support Rob Menendez, the senator’s son, who is a New Jersey Democratic congressman.

https://nypost.com/2023/10/17/...r-sam-bankman-fried/

Congress is probing whether a former New Jersey attorney general allegedly pressured by Sen. Bob Menendez to get a sweetheart deal for an associate may have done a favor for embattled FTX founder Sam Bankman-Fried.

Gurbir Grewal, now the head of enforcement for the Securities and Exchange Commission, was New Jersey’s AG when, prosecutors allege, he twice met Menendez (D-NJ) to discuss a case involving Jose Uribe.

Uribe, a former insurance agent, is one of the three people accused of bribing Menendez and his wife with cash and gold bars in a bombshell federal indictment revealed last month.

More at link

quote:

Originally posted by 83v45magna:

quote:

Originally posted by nhracecraft:
This would appear to be WAY worse than Madoff, in that it wasn't even a Ponzi scheme, but rather flat out fraud, and theft of client funds by Leftist Imbeciles!

So...like BLM then.

More like the fed.gov.

https://www.reuters.com/legal/...reckless-2023-10-17/

Sam Bankman-Fried's lawyer on Tuesday said the now-bankrupt cryptocurrency exchange's investments were not "reckless and frivolous,"

I wonder if you could see his nose growing

FTX declared bankruptcy on Nov. 11, 2022.

Singh purchased a $3.7 million home using FTX customer funds in Washington state in the fall of 2022. Singh acknowledged buying the Orcas Island home, but said he was "ashamed" and had agreed to forfeit it as part of his plea agreement.

Bankman-Fried was found guilty on all seven counts. I hope he doesn’t get a “county club” prison.

Wood chipper

https://www.msn.com/en-us/news...n-prison/ar-AA1jiytu

The jury deliberated for a little over four hours before reaching a verdict on Thursday.

Bankman-Fried was charged with seven counts of fraud, conspiracy and money laundering in what federal prosecutors have described as "one of the biggest financial frauds in American history."

His sentencing was scheduled for March 28, 2024.

Judge Kaplan said a second trial of counts that had been severed is currently scheduled for March 11, 2024.

"I would tell the government to let me know by Feb. 1 whether that's going to proceed," the judge said.

Caroline Ellison, the former co-chief executive of Alameda and Bankman-Fried's ex-girlfriend, previously pleaded guilty to criminal charges and testified under a cooperation agreement with prosecutors. She has testified that she committed fraud with Bankman-Fried and at his direction.

Ellison additionally testified that Bankman-Fried believed in utilitarianism and thought rules against lying or stealing inhibited his ability to maximize the greatest benefit for the most people.

FTX co-founder Gary Wang also admitted to committing wire fraud, securities fraud and commodities fraud with other people, including Bankman-Fried, during his testimony. Wang agreed to testify under an agreement with the government after previously pleading guilty to fraud charges.

a New York jury convicted him of fraud in a scheme that cheated customers and investors of at least $10 billion .

Sentencing should be something like "next Tuesday" for fuck's sake. No wonder it takes forever to get anything done in our justice system.

In the fevered reporting on CNBC last night after the verdict was announced. nothing was said about Scam Banking Fraud's contributions to the Biden presidential campaign. They did mention that he had "given money to Republican candidates," but no hint that he had supported the leftist party with his customer's money, much more generously.

I would also like to see a clear accounting of how much was stolen, how much was spent. Not that we will ever know how many billions he still has control over.

And I agree with Para, why the hell should it take four months to figure out a sentence for this scumbag. Is there some kind of complicated formula that has to be worked out? Shorten his life expectancy by one second for every $ he stole, a billing rate of $3,600/hr., that ought to do it.

something I have said before:

I hope Sam Boy isn't the only one who gets punished

Caroline Ellison, Gary Wang, and Nishad Singh all knew what was going on and were key players in the massive fraud

Let's hope he dies in Prison! That sketch is 'Comic Book Fantasy' though...

quote:

Caroline Ellison, Gary Wang, and Nishad Singh all knew what was going on and were key players in the massive fraud

These guys will also take it in the shorts. It will just be a little less painful, due to their cooperation with Uncle Fed.

quote:

Originally posted by architect:
And I agree with Para, why the hell should it take four months to figure out a sentence for this scumbag. Is there some kind of complicated formula that has to be worked out? Shorten his life expectancy by one second for every $ he stole, a billing rate of $3,600/hr., that ought to do it.

I believe there is. The needs to look at the charges, the severity of the charges, sentences and guidelines and what others convicted of the same crimes have received. Otherwise, they risk an appeal.

They may also want to allow time for victim impact statements. (If that is allowed in Federal Court.)

But does it really matter? I do not believe he is out on bail. He isn't going anywhere any time soon.

That courtroom sketch is hard to believe, something from the Onion or the like?

If it's mocking how too many in our criminal media portray him, spot on.

^^^Well that's certainly one angle I had not considered. Be interesting to know the source material for that meme/sketch.