Sam Bankman-Fried sentenced to 25 years in prison

3 years ago by OfficerBribe to c/buttcoin

Sixteen months after the collapse of his FTX cryptocurrency exchange, Sam Bankman-Fried has been sentenced to 25 years in prison. He has also been ordered to pay an $11 billion monetary judgment.The sentence follows his conviction on all seven felony charges in November 2022 — a decision reached by the jury within hours of beginning their deliberations.Bankman-Fried intends to appeal the conviction.

db0 28 points 3 years ago

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

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gnomicutterance 22 points 3 years ago

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db0 21 points 3 years ago

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

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BruceTwarzen -6 points 3 years ago

His poor billionaire victims

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SomeoneSomewhere 14 points 3 years ago

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?

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froztbyte 4 points 3 years ago

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)

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SuckMyWang 20 points 3 years ago

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

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Entropywins 5 points 3 years ago

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

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michael 10 points 3 years ago

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

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SuckMyWang 3 points 3 years ago

The last 7.5 years will probably be at home detention

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kasperd 2 points 3 years ago

Meanwhile the people he stole from are unlikely to ever see any of their money again let alone half of it.

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thechadwick 7 points 3 years ago

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

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dgerard 3 points 3 years ago

none of the scams are new, he'll adapt

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AcausalRobotGod 14 points 3 years ago

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

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V0ldek 9 points 3 years ago

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".

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doublejay1999 4 points 3 years ago

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

Madoff got like 150 years.

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dgerard 7 points 3 years ago

i think they'll go "fine, whatever. which crook is next"

(that would be CZ)

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answersplease77 -3 points 3 years ago

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

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Buttcoin is the future of online butts. Buttcoin is a peer-to-peer butt. Peer-to-peer means that no central authority issues new butts or tracks butts.

A community for hurling ordure at cryptocurrency/blockchain dweebs of all sorts. We are only here for debate as long as it amuses us. Meme stocks are also on topic.

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