molly0xfff ,
@molly0xfff@hachyderm.io avatar

Here's a peek into the sentencing hearing that ended with Sam Bankman-Fried receiving 25 years in prison. I also discuss some of the shock at what is being perceived as a light sentence, and the amount of time SBF is likely to actually serve.

https://www.citationneeded.news/sam-bankman-fried-sentenced/

molly0xfff OP ,
@molly0xfff@hachyderm.io avatar

The judge agreed with prosecutors that Sam Bankman-Fried's argument that "The harm to customers, lenders, and investors is zero" was nonsense.

The judge was quick to rule: "I reject entirely the defendant's argument that there was no actual loss." The claims that customers and creditors will be repaid is at this point purely speculative, as the bankruptcy proceedings are still underway. He added that while the success of some of Alameda's investments,a and the recent rise in cryptocurrency prices, is fortuitous for creditors, it does not make Bankman-Fried's crimes any less severe. As he is wont to do, the judge provided an analogy: "A thief who takes his loot to Las Vegas and successfully bets the stolen money is not entitled to a discount on the sentence by using his Las Vegas winnings to pay back all or part of what he stole if and when he gets caught."
ALT
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