Submitted by hzj5790 t3_zxhkct in technology
hzj5790 OP t1_j20a5z8 wrote
From the Article:
“Sam Bankman-Fried is expected to enter a plea next week to criminal charges he defrauded investors and looted billions of dollars in customer funds at his failed FTX cryptocurrency exchange.
The 30-year-old is expected to be arraigned on the afternoon of Jan. 3, 2023, before U.S. District Judge Lewis Kaplan in Manhattan federal court, court records on Wednesday showed.
Kaplan was assigned to the case on Tuesday, after the original judge recused herself because her husband's law firm had advised FTX before its collapse.
Prosecutors have accused Bankman-Fried of engaging in a years-long "fraud of epic proportions," by using customer deposits to support his Alameda Research hedge fund firm, buy real estate and make political contributions.
Bankman-Fried is charged with two counts of wire fraud and six counts of conspiracy, including to launder money and commit campaign finance violations, and if convicted could spend decades in prison.”
mywan t1_j20gucf wrote
I'm happy to see the original judge take their responsibility to remain impartial seriously.
Forward-Bank8412 t1_j210vs0 wrote
Nice to know there will be at least a modicum of ethics involved, unlike, say, if the trial were to be held by The Supreme Court of the United States of America.
Future-Spirit7874 t1_j220y9z wrote
Unlike Clarence Thomas
Future-Spirit7874 t1_j220w89 wrote
They can only get him on two counts of wire fraud? What did the prosecuters graduate law school during the pandemic?
hoodyninja t1_j221qvc wrote
They issue arrest warrants based on the quickest (in this case) and easiest offenses to prove. They could have arraigned him on a single count if they wanted to it doesn’t really matter. They are going to be slam dunk cases.
They can always add more charges if he doesn’t cooperate or plead quickly. I am actually really against plead deals in the US. But this is not an uncommon tactic. Basically hook your fish quickly and keep them in the hook with a seam dunk and then if the fish makes you “really work for it” while reeling him in, then you slap 5-10 additional charges on them. If he comes quietly and pleads to the original 2 plus a few smaller ones the prosecutor will likely agree to it.
TDLR: no they didn’t graduate during lockdown and clearly you have never been a prosecutor before.
Future-Spirit7874 t1_j222olb wrote
I hope they do add more charges. He need to be in jail for life.
hoodyninja t1_j224lf6 wrote
They probably will. They also have to protect their sources so don’t want to reveal anything in the indictments that would tip their hat to how much info they actually have.
mikasjoman t1_j23cxzb wrote
He probably won't be in jail for life since that would take away any of the bargaining chips to cooperate and put the rest who participated in jail too. Including some possibly innocent
elksteaksdmt t1_j22c013 wrote
Eh, it’s not like it’s murder
Douchieus t1_j22rbqi wrote
I wouldn't be surprised if people ended their lives after losing life savings tied up in this scam. Billions of dollars gone.
Remarkable_Minute_10 t1_j23j82g wrote
Time = money, stealing money = stealing time, murder = time taken away from you.
Floating_Ground t1_j22hdf9 wrote
“two counts of wire fraud and six counts of conspiracy, including to launder money and commit campaign finance violations, and if convicted could spend decades in prison.”
Future-Spirit7874 t1_j22jtvz wrote
He needs a count of wire fraud for every deposit me didn't cover.
MyNutsin1080p t1_j22nkyy wrote
That’s not what wire fraud is.
Low_Sale8560 t1_j22byb6 wrote
Look up the mandatory minimums he's facing and the federal conviction time chart. If they get him on 1 charge they have him period.
mdk2004 t1_j22iz13 wrote
Plea deal often means you plead guilty to minor crimes and walk away easily, especially if it has only been a few weeks since the indictment. This pos is fully politically connected. I doubt he will be in jail for Christmas.
thesnuggyone t1_j24jbd3 wrote
What you are saying is totally incorrect.
mdk2004 t1_j264ma1 wrote
Which part is incorrect, pleading guilty to lesser charges is so common it baffles the mind.
https://www.cbsnews.com/newyork/news/laura-parker-russo-plea-deal-unauthorized-covid-vaccine-injection-long-island/ Former Long Island teacher Laura Parker Russo pleads guilty to lesser charges for injecting teen with COVID vaccine
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You think he was arrested last week and they sent over a plea deal for 30 years in prison and a guy he agreed? The guy who could afford 100's of millions of dollars in lawyers and is out on bail potentially for YEARS. He was just so eager to go to jail for the rest of his life he took a sentence that most of use wouldn't consider getting off easy? Bernie got 150 years, even a quarter of Bernie's sentence would be 37 years. So which part is incorrect?
mattstive t1_j22lr49 wrote
Plea deal: 30 days unsupervised probation.
trict1 t1_j21i0yh wrote
Was the previous judge involved in this? Recusing thyself? Interesting how this game of life gets played…
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