No Conspiracy or Accessory charges for the Parents ??

Parents face civil suits which should bankrupt them.

I hope he doesn’t get a “county club” prison
^^^^^^^^^^^^^^^^^^
There is NO SUCH THING. When you go to prison you give up your liberty. That is punishment enough. Your entire life is structured according to the prison regime. Forget privacy and eating food you like.

Bankman-Fried Dodges Bribery Trial After Feds Drop Charges

https://www.zerohedge.com/poli...er-feds-drop-charges

^^^Of course they did...

quote:

Originally posted by wcb6092:
Bankman-Fried Dodges Bribery Trial After Feds Drop Charges

https://www.zerohedge.com/poli...er-feds-drop-charges

Dammit...
Go after the parents

This is grotesque

https://x.com/dc_draino/status...936119599145097?s=46

quote:

"strong public interest"

WTAF...Oh yeah, I forgot it's opposite world now!

Federal prosecutors asked a New York judge on Friday to sentence FTX founder Sam Bankman-Fried to between 40 and 50 years in prison for cryptocurrency crimes they described as a "historic fraud."

Prosecutors made the request as they submitted their presentence recommendations to a federal judge who will sentence the man who at one time dazzled the cryptocurrency world with his promotional skills, including his access to famous people willing to promote his businesses.

Bankman-Fried, 32, is scheduled to be sentenced in Manhattan federal court on March 28 following his November conviction on fraud and conspiracy charges.

Prosecutors say he cost customers and investors in FTX and its related companies at least $10 billion from 2017 through 2022.

https://www.msn.com/en-us/mone...tors-say/ar-BB1jYlT3

He was sentenced to 25 years.

Link

Let's see, $10,000,000,000 divided by 25 yrs. == $400,000,000/yr. Nice work, if you can get it!

Yes, I understand that he won't be able to keep all the money he stole, but it beggars belief that he doesn't have a sizeable fortune stashed away somewhere.

quote:

Originally posted by architect:
Let's see, $10,000,000,000 divided by 25 yrs. == $400,000,000/yr. Nice work, if you can get it!

Yes, I understand that he won't be able to keep all the money he stole, but it beggars belief that he doesn't have a sizeable fortune stashed away somewhere.

He was fined $11,000,000,000 as part of his sentence, so if he has any assets at all, the feds will be looking hard for them and will hoover them up as they find them.

https://www.breitbart.com/tech...s-in-jail-for-fraud/

Judge Lewis Kaplan, who sentenced Bankman-Fried said that SBF committed witness tampering before he was remanded into custody when he communicated with former FTX general counsel. Kaplan also found that he committed perjury during his trial testimony; he reportedly falsely testified that he had no knowledge that Alameda Research, FTX’s sister company and hedge fund, had spent FTX customer deposits before the fall of 2022.

Kaplan also said that Bankman-Fried “wanted to be a hugely politically influential person in this country” and that led to his financial crimes.

The 25-year sentence pales in comparison to the potential 100 years SBF faced based on his crimes, perjury, and witness tampering.

Prosecutor Nicolas Roos said “Sam Bankman-Fried stole over $8 billion in customer money, and I emphasize stole because it was not a liquidity crisis, or an active mismanagement, or poor oversight from the top. It was not a bloodless financial loss on paper.”

Bankman-Fried’s attorney, Marc Mukasey, told the court on Thursday, “Sam was not a ruthless financial serial killer who set out every morning to hurt people.”

during the height of his influence, Bankman-Fried sought to outpace Democrat megadonor George Soros as the largest donor to the party. He reportedly spent $100 million in stolen customer funds to donate mostly to Democrats and was the second largest donor to Joe Biden’s presidential campaign. (Only former New York Mayor Michael Bloomberg gave more.)

Bankman-Fried’s mother, Barbara Fried, helped craft the strategic memo that guided the Democrats’ 2020 election strategy as the leader of the Democrat super PAC Mind the Gap. Fried, a Stanford University professor, argued that Democrats should move to get non-partisan Americans registered to vote as it is “four to ten times more cost-effective” at “netting additional Democratic votes.”

quote:

during the height of his influence, Bankman-Fried sought to outpace Democrat megadonor George Soros as the largest donor to the party. He reportedly spent $100 million in stolen customer funds to donate mostly to Democrats and was the second largest donor to Joe Biden’s presidential campaign.

Geez...
I think the Dems knew the money was shady.
SBF thought he was buying protection, and for a while it worked.

snips (firewall)

Caroline Ellison, Nishad Singh and Gary Wang await their own fate after helping seal their former boss’ conviction for pulling off a multibillion dollar fraud involving tens of thousands of customers.

The trio pleaded guilty to their roles in the yearslong wrongdoing at FTX and sister trading firm Alameda Research, and cooperated with the US government in its case against Bankman-Fried.

“In the vast majority of white collar cases, the cooperators get zero jail time,” former federal prosecutor Jordan Estes said.

that would not be justice. they all knew what was going on

Ellison, 29, started discussing a potential cooperation agreement with the government after the FBI raided her parents’ home near Boston, seizing her cell phones, computer and journal. Wang, 31, suddenly left the Bahamas penthouse he shared with Bankman-Fried on Nov. 16 — less than a week after FTX declared bankruptcy — and joined his lawyers at the US Attorney’s Office in Manhattan the next day. Singh, 28, who testified that he was suicidal after dealing with FTX’s collapse from its headquarters in the Bahamas, met with prosecutors a few days later.

Ellison, who was in Hong Kong as FTX imploded in November 2022, returned to the US to stay with her parents — both MIT economists. It’s unclear if she is working again.

She provided the most damning testimony at Bankman-Fried’s trial. Ellison described how Bankman-Fried instructed her to make misleading balance sheets for investors to hide Alameda’s liabilities to FTX and how he chose to make risky investments despite knowing it would draw down on customer funds

it will be up to Judge Kaplan to decide whether they serve any prison time and how much they should pay in restitution

Ellison, Singh and Wang have settled actions brought by the Securities and Exchange Commission and Commodity Futures Trading Commission but have not agreed on any potential financial penalties.

a strange twist

https://www.msn.com/en-us/news...96b07fdad60cbc0&ei=3

Disgraced “crypto king” Sam Bankman-Fried is set to turn on celebrities including Tom Brady and Larry David in a new class-action lawsuit after they endorsed his failed FTX cryptocurrency exchange.

Bankman-Fried is currently serving a 25-year prison sentence on fraud charges after he was found guilty of lying to investors and customers of his company FTX.

The 32-year-old had acquired mass wealth through FTX, which at its height was worth $32bn and had over one million users, but that all came crashing down in November 2022 when a CoinDesk report revealed that most of FTX’s assets were held by a quantitative trading company that he also ran called Alameda Research.

The revelation sent investors and customers scrambling to withdraw their funds, which later exposed an $8bn hole in the company.

Since then, a group of investors and customers have filed a class-action lawsuit against Bankman-Fried and the celebrities he recruited to endorse FTX, in an effort to recover some of their losses following the collapse of the crypto firm.

The lawsuit, filed in the US District Court’s Southern District of Florida, alleges that Bankman-Fried and celebrities including NFL star Tom Brady and comedian Larry David are responsible for around $11bn of losses to American consumers.

Brady and his now ex-wife Gisele Bundchen appeared in an FTX commercial in 2022. In the commercial, Brady was filmed at home calling around his friends to sign them up with FTX.

The company marketed the ad campaign with the slogan: “Tom Brady is in. Are you?”

Meanwhile, David starred in a multi-million-dollar Super Bowl ad for the company in which he rejected cryptocurrency before viewers were then told: “Don’t be like Larry.”

Sports stars Stephen Curry, Shaquille O’Neal and Naomi Osaka are also among those named in the lawsuit after starring in commercials promoting FTX.

Bankman-Fried was also named in the lawsuit but, on Friday, agreed to cooperate with the plaintiffs in the case in exchange for them dropping their civil liability claims against him.

But the deal could see him turn against some of his celebrity backers.

The plaintiffs in the lawsuit are proposing that Bankman-Fried assists in prosecuting FTX influencers and aids in victim recovery by handing over all non-privileged documents and testimony provided during his criminal trial.

The celebrities are described in the 41-page lawsuit as “parties who either controlled, promoted, assisted in, and actively participated in” FTX’s operations, allegedly in breach of Florida law.

The suit adds: “The Deceptive and failed FTX Platform was based upon false representations and deceptive conduct.

“Although many incriminating FTX emails and texts have already been destroyed, we located them and they evidence how FTX’s fraudulent scheme was designed to take advantage of unsophisticated investors from across the country, who utilize mobile apps to make their investments. As a result, American consumers collectively sustained over $11 billion dollars in damages.”

However, it is unclear what damages the celebrities might be liable for since they were paid by Bankman-Fried to boost the profile of his crypto empire.

So it’s celebrities fault this little turd and his ilk stole billions from investors, gave democrats millions of those dollars as donations, etc?

https://financefeeds.com/ftx-c...t-sam-bankman-fried/

in addition to SBF, Similar settlement agreements have been reached with other associated figures from FTX, including Caroline Ellison, Nishad Singh, Gary Wang, and FTX lawyer Dan Friedberg.


Despite there being no parole in federal cases, Bankman-Fried could reduce his sentence to as low as 12.5 years through the First Step Act, which allows for sentence reduction for nonviolent federal inmates. Although the legislation originally aimed to reduce prison time for minority offenders, it has benefited white-collar criminals as well.

quote:

could reduce his sentence to as low as 12.5 years

Whether it's 12.5 or 25 years, there will still be a boatload of pissed off people awaiting his release.