Light sentence. 25 years is a lot when murderers can get less, but light compared to the 100 years he was originally facing. He'll be out in his 50s.
FTX Founder Samuel Bankman-Fried Arrested/General Crypto Scams Thread
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After Madoff took 150 years for everything he did, I swear this guy here should have taken at least 75 years.
Don't get me wrong, he deserve it, but isn't it funny that they singled out an outlier but none of the financial responsible in the 2008 got any time? And they fecked us all much more
PMs and Chancellors dont go to jail
And bankers and financial entitiesPMs and Chancellors dont go to jail
What a wild life this guy has had.
You do realize it'll be a jail with internet, TV, five stars hotel toilet and butler police, right?
Every night his mum will check on him "Honey, have you had the chocolate choux I ordered?"
Every night his mum will check on him "Honey, have you had the chocolate choux I ordered?"
What has this guy done wrong that other businesses, governments ot tax offices haven't done?
…..quite a lot?
They used to sign off 6 figure corporate expenses over Teams chats that got automatically deleted after I think it was 30 days. I think that shows you the level of corporate governance they worked with. Ignorance isn't a defence under the law for directors, and I also don't believe they didn't know they were breaking at least some of the rules. I don't think they're necessarily worse people than many other execs, but the arrogance to think the rules didn't apply to them when gambling other people's money was a bit remarkable.
They did him dirty with this painting
You can always tell if these painters like someone or not. I love that.
They did him dirty with this painting
My man was aprehended by Dick Tracy.
They did him dirty with this painting
The painter obviously lost money on FTX
They did him dirty with this painting
Nick Leeson? 4 years in nik
25 years in jail is a lot. I don't care what is given for other crimes and often I think people don't really comprehend what it means. 25 years in prison is horrendous. You're not coming out the same as you went in and even if he does half that, he's likely coming out a broken man.
And so many people lost all their money and savings. He broke so many lifes. Forever
I think it is you that you dont realize the scope of what this man did
What does the real villain, that slimy cnut Tom Brady, get sentenced to?
In Singapore. I don't know if their rules are different but it's quite a different context. He also wasn't the chief exec, he was just a trader. In fact the directors at Barings ought to have been punished further than just losing their jobs as they were responsible for setting up the processes and limits to what Lesson could do. They ought to have been banned from being directors for a while at least.
FTX also lost about 4 or 5 times more money, even accounting for inflation.
Caption: Roy Hodgson takes FTX's Founder, Samuel Faceman-Fried's McDonalds order and telling him "we don't take FTX coin as payment here", that's why he looks sad.
They did him dirty with this painting
I just don't believe you gain very much from incarcerating people and I don't think people really comprehend what a decade isolated from family, friends with your freedoms removed can do to someone. It costs the state an absolute fortune as well.
How many years would suffice for you?
Wouldn't it be better to get some use out of him, in some way, for the betterment of society?
The deterrent effect is what we are looking for here. And frankly, the rich people that steal the average joe en mass are the ones that at the bottom of my regard among few other types. I would wish them far worse than 25 years and i am not talking about more years
Is there any evidence that longer prison sentences are actually a deterrent at all? I'm quite dubious about that.
Worse? Back to capital punishment then, is it?
I dont know if there is any study about it. My logic says yes, but i might be completely wrong. At the same time, what would be the optics of allowing a person to steal hundreds of millions for just a few years to get out and enjoy the good life. Bc this people might be stripped of their money but they made good contacts that made millions thanks to them that will gladly repay the favour.
And not capital punisnment. Worse
Hmmm I'll look into it. My gut says no, tbh.
Fair point and obviously, the man should never be allowed to be involved in any kind financial business again. Even if he does do 25 years he should still be banned.
I typically agree with you that rehabilitation is preferable. A broken man steals to feed his drug addiction - I’d much rather see him helped than imprisoned.
This circumstance is so different though, it’s an uber-wealthy privileged person from an elite background wilfully shitting all over ‘regular’ people. I don’t know how much he deserves rehabilitation, life has already given him so much and he’s chosen to be a an abuser en masse
I abslutely agree. I believe in rehabilitation in many cases. Specially with people that are also victims of the system that brings them to fall in addictions, stealing and others crimes as a result of little opportunities in life do gheir upbringing
This people chose that life and got even greedier.
Good. He knew what he was doing and gladly shat all over his customers and showed zero remorse about it.
In some cases rehab is the right thing, but sometimes it needs to be good old fashioned punishment.