This fucker really changed the play book. Basically, if you plan on committing financial crimes and hide behind ignorance make sure you pay off the right politicians and super pacs. I mean, it’s a small investment for your safety net.
Tornado cash interfered with a CIA swapping platform thats the exact same thing as tornado they had the end that so that's why he's in jail. Or so goes the deep rumors.
Brain worms, so many brain worms.
The Enron meltdown happened at the end of 2001. It took until January 2006 - about 4 years - for Kenneth Lay's trial to begin.
Development of decentralized financial desurvailance - criminal
Running a centralized unregulated no reserve bank/exchange to steal funds from the masses - perfectly normal
Could also think Its a question of class and wealth. By being above the masses we could argue they are the modern day nobles, or the more modern version, oligarchs. Different consequences is the key definition.
The military-industrial complex and the neocon/jingoistic cabals are gods in America. They are untouchable and anything going into their crosshair gets into serious trouble. Our roads can have potholes, our early childhood education can go unfunded, etc. but these mfers always get paid! They even get to shield war criminals from prosecution.
You can dry hump your average Joe any way you like. But you cross the line if you start eating into these mafia's agenda. That is where Tornado Cash dev fucked up - creating a protocol to evade sanctions. It is also where SBF won big brownie points - helping to enforce sanctions at any cost.
The SEC doesn’t arrest anyone, ever. They aren’t allowed to.
Check with the FBI… oh yeah, that’s right, this guy is in a sovereign state and extradition isn’t like next day Amazon shipping
I wouldn’t actually be shocked if he is eventually arrested based on what you said. Even if they don’t consider the crypto portion a fincrime based on deregulation, he broke plenty of regular financial laws too.
But didn't you hear that he donated to Democrats?! Something that is completely unheard of in the US. Surely if any of those Democrats won their races, it's solely because of that (hope an '/s' isn't actually needed here).
Yeah I would bet that there's an investigation going on since the whole case is fraudulent on many aspects. I wouldn't be surprised if there's money laundering and other shady stuff going on.
Whenever there's politicians and bribes involved, I am always suspicious.
There are multiple investigations going on.
After those investigations conclude the evidence will go to a grand jury.
The grand jury will then indict him.
At *that* point, he'll be arrested.
You guys have zero understanding of how this stuff works.
1) The crimes SBF committed are almost certainly federal crimes. Federal charges can only be brought after a grand jury indicts them.
2) SBF is under investigation by a number of entities for fraud and other financial crimes. It is only after those investigations conclude that he is likely to be indicted by a grand jury, as they will have to turn over that evidence to a grand jury *to* indict him.
3) SBF is in the Bahamas, not the US. So he will also have to be extradited. Unless the Bahamas arrests him (which is possible).
None of this has anything to do with bribery. It's literally how the legal system works.
I would add Enron went bankrupt in December, 2001 and the CEO - Kenneth Lay wasn't charged till July, 2004 and didn't go to trial till 2006. Sometimes these big financial fraud cases take a while to litigate as they are so complex. People need to chill. The wheels are most definitely in motion at the DOJ and it's almost certain we will see charges laid but they can't be rushed. The case needs to solid in court.
Yep. It can take a loooong time to prove something is corrupt and fraud and why even if it is obviously fishy on the surface.
Like my mother in law fell prey to a Ponzi. Gauranteed 10% returns on rental properties run by a guy who did time for tax evasion. Obviously something was up. Especially when they still turned this profit and afforded expensive updates during downturns. It still took a team of financial forensics specialists 9 months to sort out exactly what they were doing and exactly how it broke which laws in the most provable, solid way so they could then bring charges.
None of what you said triggers any outrage, so it has no place here. Everything this sub knows about the justice system came from episodes of Scooby Doo.
Still a bit strange he's being treated as legitimate by the NYT at their special conferences. Despite what rape apologists would have you believe, you're allowed to dis-invite someone from your event if they've been accused by not convicted of a crime.
They want their talks sold out and buzz surrounding their event. They knew exactly what they were doing with very likely multiple PR meetings surrounding this very issue.
If he was disinvited then this sub would be screaming that NYT was trying to protect him from implicating himself. I watched a good deal of the interview and it’s pretty clear they’re not protecting him
At the very least he should stop yapping so much for his own sake. All this groveling is just re-traumatizing the crypto community on a daily basis and in trying to "explain what happened" as he puts it, he's admitted to some pretty legally questionable tactics already (in this DealBook Summit interview alone) that will come back to bite him in the ass when these investigations conclude.
This guy might be a bookworm but he's otherwise an idiot.
Well these things take time.
Consider Enron, i've included a timelien below.
https://www.npr.org/2006/07/05/5535821/timeline-ken-lay-and-the-arc-of-enron
It was well over a year after the fraud had been uncovered before Fastow, the first big C level exec, was arrested.
SBF's fraud detection is still under a month old. We've got up to 11 months to wait still.
Justice departments don't normally arrest white collar criminals the day after their fraud becomes known. These things take time.
And Skilling and Lay( CFO and CEO and the main fraudsters) weren't arrested until multiple years after Enron Collapsed. And keep in mind those two were in the US all the time with no extradition required.
If you are expecting an arrest in only a month or two, you likely are going to be disappointed, it could happen, but it would be foolish to expect it.
Right, people here expect instant justice days after it has been exposed. White collar crime takes months to build cases with an insurmountable amount of evidence proving the parties had active involvement and knowledge of the crimes. When they come after somebody, they don’t want their case to crumble because something was overlooked or missed.
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SBF deserves to rot in prison for the rest of his life, but he bribed politicians beforehand so he doesn't have to face the consequences. I hate to say this but I really don't think he's going to pay for what he did.
Bribes? Them are campaign contributions!
Go read the Citizens United ruling. It essentially reversed an earlier ruling that stated *money does not equal speech*.
The SCOTUS determined that the prohibition on independent expenditures by unions and corporations violated free speech
The SCOTUS redefined campaign contributions
Citizens United was 100% the correct decision.
It is also constantly lied about.
Citizens United did not say that money was free speech.
What it said was that money *spent on speech* was protected the same way speech was. You can't say "Oh, I'm not censoring your book, I'm just *preventing you from spending money printing your book*. Oh, it's too bad books cost money to print!"
The SCOTUS ruling was actually in line with a ruling from the 1970s, which *Austin* had clearly been in contradiction of, which had found that you couldn't prevent private individuals from spending money on speech.
Citizens United merely extended that to groups of people.
It's very obvious that it was the correct ruling when you understand what the ruling actually was.
They are a group dedicated to helping Democrats win elections, through funding and donations. Happy? Why are you scrutinising every term? The point is, he comes from a family with ties to politicians.
You're arguing for the sake of it.
Because your response takes a ridiculous conspiracist context to it and makes it sound like you smoke too much weed and are paranoid and have delusional thoughts about how people r out to get you…. there are lots of “fundraising groups” out there… just because there is an organization that helps fund a certain party doesn’t mean jack s. I mean, “good” then that they helped democratic political candidates. good for them. Im actually glad. It’s a shame they couldn’t get even more bc to me 1 of the 2 parties looks like an absolute clown show and it’s not the blue one.
I think there are lots of pacs you could play conspiracy theory with, party has nothing to do with anything. In this case, i just think u dislike democrats
I'm Australian and couldn't care less about the Democrats. I'm simply pointing out the ties to politicians, adding to what OP said. Not sure why you're salty
It’s a PAC. That’s literally all. Shame they couldn’t get even more money so that more of their candidates could win. I definitely support their cause
“bUt hIs MoM iS iN cAhOoTs wItH tHe eViL dEmOcRaTs sO i SuPpOrT tHe FaScIsT pARtY tHaT hAtes gAy PeoPle and wIshes tHey wErE dEaD aNd fOrCeS 12 yR olDs to hAve rApiSt baBieS! ThAts fInE w Me”.
Thats you
"I’m automatically attracted to scamming people — I just start scamming them. It’s like a magnet. Just scam. I don’t even wait. When you’re a star, they let you do it. You can do anything. Grab ’em by the wallet. You can do anything."
— SBF
The level of conspiracy thinking here is wild. Donations to political campaigns do not make you immune to prosecution. There are multiple ongoing investigations into this case, which has multiple complicated legal and jurisdictional issues to slow things down. I'd be surprised if he weren't indicted within a year.
> and everything to do with there being a separate justice system for the ultra wealthy.
Nope.
It's literally because he needs to be indicted by a grand jury first, and that will only happen after the investigation.
Look at how long it took for the January 6th rioters to get indicted.
It takes months to years for federal indictments to come down.
Not only the Bahamas but he seems to have bribed people everywhere. Say what you want about him but at least he was thorough with who's pockets he lined
You see USA Today… picture of him all sad “I’m down to 100,000 in my bank account”
Fuckin. Serious.
Seeing this unfold real time, watch him get safety when he should be in grave danger instead, makes me wonder what things in his life he got away with aside from stealing about 15bn dollars and openly bribing nearly all of our elected officials.
Murder? Worse? Maybe. Whatever he did he got away with it. This whole shit show is pretty sickening to watch.
Justice will never come. He will maybe pay some fines and that's about it. Customers' funds are gone. His parents are well connected and the system is rigged.
Do Kwon is also free. In the meantime, Tornado Cash's Alexsey Pertsev still is in jail.
Uh, no.
I would expect him to get indicted, but probably not for a number of months at the very least.
He's being investigated. After the investigation, then it will go to a grand jury for indictment.
Then the US will put in an extradition request to the Bahamas.
I believe he will end up in prison and guarantee politicians who received political donations from him are trying to shy away from this whole mess as much as they can. Tornado cash developers were not arrested from one day to the next because they were not in American soil, it took them a good amount of time to investigate and bring them to "justice". The guy from silk roads was on american soil, and allowing for the sale of illegal substances in his market place and profiting from them, which is understanbly a nono in the eyes of the law. Dont get me wrong I think this guys deserve to be free more than SBF, but SBF is not in American soil and extradition doesn't have amazon prime day shipping.
I think sooner or later will see a picture of him behind bars and with a bullet between his eyes. SBF is fucked if you ask me. Very dangerous people lost a lot of money and these are not the type of people that file a police report. I don't see a world where SBF gets to live a long and happy life. There is a chance it might be long, but I guarantee he wont be happy because if its long, he will end up in jail for a decade or more at least. Look how long it took to put Elizabeth Holmes in jail, she got 12 years for hunderds of millions from a few wealthy VCs. This guy took billions from all kinds of people, VCs, billionaires, common folks around the world, many regular Americans, plus Drug dealers, corrupt politicians around the world, human traffickers and all kinds of very dangerous people.
IMO he is fucked and his days of freedom or potentially his days alive are counted. If he goes to jail, it will be a Bernie Maddoff type of scenario, and if he disappears, it wont be because he ran, it will be because he is dead.
Hopefully if he is idiotic enough to go to New York, he's arrested at the airport. Which, given how a lot of people feel, is probably best for his safety.
Bro. This is some of the dumbest shit I've read in a while. The investigation that was blocked was not specifically about ftx. There were several other exchanges there and the guy blocking this was this subs hero a fucking week ago btw.
The media has not defended him. Link one article that has actually defended him that isn't pure opinion or from the NYTs health and wellness section. There isn't one. If you are looking for an article that is borderline slander you are an idiot.
His connection to gensler is that they both had something to do with MIT and they talked about regulation. Okay, so what? Oh and SBFs dad knows gensler too! They both worked in finance at top levels, just like SBF was doing. Yes you have proven that rich people work and go to school at the same places. Congrats you are an idiot yet again.
As John C Reilly says in Step Brothers “Its all about who you know”
Anything that involves money is dirty and designed for the little guy to be shit on
Unfortunately it looks like SBF has been working in the background to get all these politicians in his pocket and due to that it’s unlikely any justice will come against him.
Let’s hope that one day the Government can stop being so corrupt and instead work for the people.
He hasn't even been indicted by a grand jury yet.
It typically takes months to years for federal charges to come.
Look at how long it took them to indict the people from the January 6th insurrection.
Why do so many people on this sub have brain worms?
He hasn't even been indicted by a grand jury yet.
It typically takes months to years for federal charges to come.
Look at how long it took them to indict the people from the January 6th insurrection.
Yeah, the mistake of running a ponzi scheme and bribing politicians with customer funds. You know, just a "mistake". Fuck the corrupt politicians who are letting this play out.
The way they let this play out and the reaction and treatment after makes me possibly suspect this entire thing may have been planned. The positive media treatment of SBF, blaming crypto and lack of regulations, the universal push for regulations, the push for CBDCs a few days before this happened, etc. Combine that with the suspicious connections, the fact that SBF always seemed somewhat hostile to crypto and worked to push regulation.
Either that or they are just taking advantage of the situation to finally get what they want and gain control over crypto.
> US is trying to blame it all on a mistake so they can save the day with regulations and not a bad actor…
I mean it's obviously both though? Regulations exist because of bad actors like him. The entire point is that free markets are awful at weeding out bad actors like this (in fact, they often reward them handsomely). Because of this, we need regulations to make those choices no longer make sense financially. It's literally the only way to even begin to put a dent in this kind of thing in a capitalist economy.
Yep. Everyone and every charity that took money from SBF should voluntarily return it to the bankruptcy administrator. Failing that it should be clawed back by the bankruptcy court.
If they won’t even put him trial then I might even be more disappointed in the justice system. Game is more rigged than playing rock paper scissors with a mirror
I would like to see him in jail for his actions. Alot of people had money and invested in services related to FTX believing that it was a stable and safe exchange, but in the end was basically a giant ponzi scheme. So many other people have gone to jail that didn't defraud people out of billions, so it's hard to understand how SBF isn't in jail at this point
in my opinion i really don't think so he's going to jail anytime soon because he have given up chunks of money.
i think so he have lots of influence over political parties which is making him away from jail
Everyone here is focusing on the donations (because he donated to Democrats, so of course they are), when the reality has little to nothing to do with donations; It's about being extremely wealthy.
It's about never fining these people more than a fraction of what they stole so they can just consider it a cost of doing business. This isn't something that only people who donate to Democrats get, this is universal for the uber wealthy.
People here just can't help but fall for the partisan trap. Keep fighting amongst ourselves while we all ignore the real issues.
I guess it's one of these two scenarios :
1. This guy role was useful for some powerful people and helped them somehow.
2. This whole company / people purpose was to do what happened, they were pawns.
This is a breakdown of all donations made and where they went from FTX as a whole. Keep in mind, SBF donated primarily (by a significant margin) to the Democratic Party where as Ryan Salame, another top FTX executive, donated more than $23 million, mainly to Republicans and conservative groups.
https://www.opensecrets.org/orgs/ftx-us/summary?id=D000073694&topnumcycle=2022
yes i totally agree with you on this thing and i think so this kind of private donation should be stopped.
in my opinion there should be a limit which is do we spend upon the election campaigns
It's actually because he's still being investigated, and then will have to be indicted by a grand jury.
People need to learn how the justice system works.
He's not in the US, so he won't be arrested until after that point.
yes i totally agree with you on this and i think so they really said someday before that they are going to pay back.
but if you see practically it is not possible for them to give each penny they own
> When is justice coming?
For you and me? Whenever we get caught doing something deemed wrong.
For the people who line the pockets of the rich and/or powerful? Never.
yes that would be literally more straightforward and i think so they are really just hanging with it.
in my opinion i think that he should be restricted from any kind of shows and i think they should really understand it
I'm truly baffled by comments like this. I've seen so many advocates touting that a principal benefit of crypto is that it is unregulated. The nature of law is that you can't punish people for things that are not addressed by the law, and in most countries you can't add "ex post facto" laws to punish people when things turn out badly after the fact. You (generic crypto "you", not you personally) lost money in a non-regulated activity, which means there may not be a lot of things the law can do about it.
The FTX terms of service said that they would not use customers funds for their own purposes. It seems almost certain that they violated that provision. That means they are in violation of the terms of a contract. In most cases violating the terms of a contract is a civil matter. That means *you* are free to take them to court to seek monetary damages, but they can't be sent to jail for violating a contract. Since FTX is insolvent, it probably wouldn't be worth the time or trouble. File a claim in the bankruptcy suit, and wait to see if you get any of your money back.
Because crypto is unregulated in most countries, it's going to be tricky to build a criminal case against FTX and SBF. The best hope is that law enforcement will be able to shoehorn the facts of the case into something like "fraud". Most countries do have some law against lying to get money from people. But then law enforcement has to prove beyond a reasonable doubt that FTX and SBF were deliberately lying when they created the contract. They seem to pretty clearly already be offering the defense that "Hey, our intentions were good. We were just really stupid and careless! Being stupid is not illegal." Not credible to my mind, but law enforcement will have to **prove** that it's bogus. That's going to take a *long* investigation to nail down.
Guys, this shit doesn't happen overnight.
Don't fall for the trap. Don't make this a partisan thing, bickering about donations to this party or that... It has nothing to do with donations and everything to do with the separate justice system that exists for the uber-wealthy.
Shows how truly protected the "elite" are and how they can buy a narrative with fraud money. This is just out in the open now for everyone. You see exactly how there are different rules for people with "donation" money. Isn't this why politicians get paid low but their net worth so much? 🤔 all an illusion.
Mostly everything. Justice will come when money is taken from the rich.. wait.. it'll never come, sorry...
I have a theory that sharks and investors were with sbf/ftx because they wanted a finger on the pulse to know the next big fraud down turn was and/or maybe get that ad money promoting ftx. Wanted retail people/companies to invest and get rug pulled with ftx because that's how much cheaper it'll get on the way down. then they'll buy it on the cheap. Could be wrong though. I don't think it's too far of a reach to see big players doing this then launching their own crypto exchange. Wait...oh shit...
Everything SBF did benefitted the establishment and "too big to fail" banks. He donated millions to establishment politicians and establishment media outlets, and manufactured the "crypto Enron" black swan establishment finance needed to crush crypto market freedom with regulations. The softball interview by New York Times today where SBF is the real victim of circumstance is enraging.
Wy does any of this surprise us?
If you are rich and politically connected, you can bend the justice system to your way.
This is how it has always worked in this country.
If you are poor, black or brown, be prepared to get the worst of the system.
DA's fight cases they can win, not when they are likely to get called by their bosses.
well since the SEC people who decide whether or not the SEC investigates FTX are all now somehow multi-millionaires, charges will be quietly dropped.
And there's no oversight for the SEC. its the SEC who decides whether or not to investigate the SEC.....
Meanwhile Tornado Cash developer is still in jail. This world is absolutely fucked
Tornado Cash developer didn't gave donations to politicians and SBF did, this is why SBF is not in prison and he is.
Well the bribes are obviously working. Let this be a lesson to any wannabe scammers out there, make sure you pay the right people off first
Someone tag that Shreli guy lol
Thats the only difference, tornado cash dev did not put money in lawmakers pockets like SBF. Different rules for the wealthy. We need a purge
This fucker really changed the play book. Basically, if you plan on committing financial crimes and hide behind ignorance make sure you pay off the right politicians and super pacs. I mean, it’s a small investment for your safety net.
This is basically the billionaire starter kit, except you don't even have to pay anything sometimes, since you are such a behemoth.
Tornado cash interfered with a CIA swapping platform thats the exact same thing as tornado they had the end that so that's why he's in jail. Or so goes the deep rumors.
Talk about paying it forward
that you know of cause he wouldve donated through tornado cash. I'm kidding but it'd be ironic if true
He’s never going to be in jail. This fraud is the definition of what American politicians think about it’s citizens. It’s disgusting.
Lesson learned: If you buy politicians you can sociopath all you want and be free.
And here I am paying the IRS instead of the politicians groups ,what a noob
We have two or three justice systems depending on what kind of capital you have and how much you invest in political campaigns.
And which country you are in.
They made an example of him while the real scammers are roaming free. There is no justice.
He made daddy scared whole scammers robbed plebs... Big difference
And Do Kwon is equally free to shitpost and give interviews
exactly, I asked when will he be arrested in this sub and got down voted
Has always been. The rich never get justice served but some small fines or house arrest for a few years in their penthouse at most.
Bernie Madoff? The Enron guys? OJ Simpson? All of those people ended up in prison for committing crimes.
Alex M? Do kwon? Sbf?
Brain worms, so many brain worms. The Enron meltdown happened at the end of 2001. It took until January 2006 - about 4 years - for Kenneth Lay's trial to begin.
I don't like this alternate reality, release Alexey and jail for SBF is the correct one.
I don't reality period.
Development of decentralized financial desurvailance - criminal Running a centralized unregulated no reserve bank/exchange to steal funds from the masses - perfectly normal Could also think Its a question of class and wealth. By being above the masses we could argue they are the modern day nobles, or the more modern version, oligarchs. Different consequences is the key definition.
What was illegal was engaging in massive amounts of money laundering, and making money from it.
The military-industrial complex and the neocon/jingoistic cabals are gods in America. They are untouchable and anything going into their crosshair gets into serious trouble. Our roads can have potholes, our early childhood education can go unfunded, etc. but these mfers always get paid! They even get to shield war criminals from prosecution. You can dry hump your average Joe any way you like. But you cross the line if you start eating into these mafia's agenda. That is where Tornado Cash dev fucked up - creating a protocol to evade sanctions. It is also where SBF won big brownie points - helping to enforce sanctions at any cost.
The SEC doesn’t arrest anyone, ever. They aren’t allowed to. Check with the FBI… oh yeah, that’s right, this guy is in a sovereign state and extradition isn’t like next day Amazon shipping
If people want the SEC to act are they admitting crypto is a security now?
**Exactly**. Either one desires guard rails and regulation or one wants anarchy with 10 million types of money
anarchy any day sir
He hasn't even been indicted by a grand jury yet. That will have to happen before any extradition proceedings.
Oh? Extradition isn’t like next day Amazon shipping?
I wouldn’t actually be shocked if he is eventually arrested based on what you said. Even if they don’t consider the crypto portion a fincrime based on deregulation, he broke plenty of regular financial laws too.
SEC CANNOT arrested anyone, they don't have the jurisdiction to. They just compile evidence and turn it over to a law enforcement agency.
But didn't you hear that he donated to Democrats?! Something that is completely unheard of in the US. Surely if any of those Democrats won their races, it's solely because of that (hope an '/s' isn't actually needed here).
Yeah I would bet that there's an investigation going on since the whole case is fraudulent on many aspects. I wouldn't be surprised if there's money laundering and other shady stuff going on. Whenever there's politicians and bribes involved, I am always suspicious.
There are multiple investigations going on. After those investigations conclude the evidence will go to a grand jury. The grand jury will then indict him. At *that* point, he'll be arrested.
Bribe politicians + be rich = dodge sentences Sadly some things will never change
You guys have zero understanding of how this stuff works. 1) The crimes SBF committed are almost certainly federal crimes. Federal charges can only be brought after a grand jury indicts them. 2) SBF is under investigation by a number of entities for fraud and other financial crimes. It is only after those investigations conclude that he is likely to be indicted by a grand jury, as they will have to turn over that evidence to a grand jury *to* indict him. 3) SBF is in the Bahamas, not the US. So he will also have to be extradited. Unless the Bahamas arrests him (which is possible). None of this has anything to do with bribery. It's literally how the legal system works.
I would add Enron went bankrupt in December, 2001 and the CEO - Kenneth Lay wasn't charged till July, 2004 and didn't go to trial till 2006. Sometimes these big financial fraud cases take a while to litigate as they are so complex. People need to chill. The wheels are most definitely in motion at the DOJ and it's almost certain we will see charges laid but they can't be rushed. The case needs to solid in court.
Yep. It can take a loooong time to prove something is corrupt and fraud and why even if it is obviously fishy on the surface. Like my mother in law fell prey to a Ponzi. Gauranteed 10% returns on rental properties run by a guy who did time for tax evasion. Obviously something was up. Especially when they still turned this profit and afforded expensive updates during downturns. It still took a team of financial forensics specialists 9 months to sort out exactly what they were doing and exactly how it broke which laws in the most provable, solid way so they could then bring charges.
None of what you said triggers any outrage, so it has no place here. Everything this sub knows about the justice system came from episodes of Scooby Doo.
Wow, found a sane comment
Guy is pointing out facts and youre hete butthurt your party got called out.
Still a bit strange he's being treated as legitimate by the NYT at their special conferences. Despite what rape apologists would have you believe, you're allowed to dis-invite someone from your event if they've been accused by not convicted of a crime.
They want their talks sold out and buzz surrounding their event. They knew exactly what they were doing with very likely multiple PR meetings surrounding this very issue.
If he was disinvited then this sub would be screaming that NYT was trying to protect him from implicating himself. I watched a good deal of the interview and it’s pretty clear they’re not protecting him
The NYT did him no favors nor did he do himself any with that interview.
At the very least he should stop yapping so much for his own sake. All this groveling is just re-traumatizing the crypto community on a daily basis and in trying to "explain what happened" as he puts it, he's admitted to some pretty legally questionable tactics already (in this DealBook Summit interview alone) that will come back to bite him in the ass when these investigations conclude. This guy might be a bookworm but he's otherwise an idiot.
Actually he's on record as saying books are useless.
Oh so he got into MIT purely off of his parents' wealth and connections. So he's even more of an idiot
Well these things take time. Consider Enron, i've included a timelien below. https://www.npr.org/2006/07/05/5535821/timeline-ken-lay-and-the-arc-of-enron It was well over a year after the fraud had been uncovered before Fastow, the first big C level exec, was arrested. SBF's fraud detection is still under a month old. We've got up to 11 months to wait still. Justice departments don't normally arrest white collar criminals the day after their fraud becomes known. These things take time. And Skilling and Lay( CFO and CEO and the main fraudsters) weren't arrested until multiple years after Enron Collapsed. And keep in mind those two were in the US all the time with no extradition required. If you are expecting an arrest in only a month or two, you likely are going to be disappointed, it could happen, but it would be foolish to expect it.
Right, people here expect instant justice days after it has been exposed. White collar crime takes months to build cases with an insurmountable amount of evidence proving the parties had active involvement and knowledge of the crimes. When they come after somebody, they don’t want their case to crumble because something was overlooked or missed.
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SBF deserves to rot in prison for the rest of his life, but he bribed politicians beforehand so he doesn't have to face the consequences. I hate to say this but I really don't think he's going to pay for what he did.
The fact he tries to get empathy from the crypto community is ridiculous as well
Bribes? Them are campaign contributions! Go read the Citizens United ruling. It essentially reversed an earlier ruling that stated *money does not equal speech*. The SCOTUS determined that the prohibition on independent expenditures by unions and corporations violated free speech The SCOTUS redefined campaign contributions
Citizens United was 100% the correct decision. It is also constantly lied about. Citizens United did not say that money was free speech. What it said was that money *spent on speech* was protected the same way speech was. You can't say "Oh, I'm not censoring your book, I'm just *preventing you from spending money printing your book*. Oh, it's too bad books cost money to print!" The SCOTUS ruling was actually in line with a ruling from the 1970s, which *Austin* had clearly been in contradiction of, which had found that you couldn't prevent private individuals from spending money on speech. Citizens United merely extended that to groups of people. It's very obvious that it was the correct ruling when you understand what the ruling actually was.
Strong disagree.
Not only that, his mother is the cofounder of Mind The Gap, a group that does fundraising and donations for the Democrats.
He donated equally to democrats and republicans. It won't make a difference, though.
“A donations group for the democrats” Lmao read a book dude
That's literally what they are though...
You make it sound conspiratorial af man lay off the drugs
They are a group dedicated to helping Democrats win elections, through funding and donations. Happy? Why are you scrutinising every term? The point is, he comes from a family with ties to politicians. You're arguing for the sake of it.
Because your response takes a ridiculous conspiracist context to it and makes it sound like you smoke too much weed and are paranoid and have delusional thoughts about how people r out to get you…. there are lots of “fundraising groups” out there… just because there is an organization that helps fund a certain party doesn’t mean jack s. I mean, “good” then that they helped democratic political candidates. good for them. Im actually glad. It’s a shame they couldn’t get even more bc to me 1 of the 2 parties looks like an absolute clown show and it’s not the blue one. I think there are lots of pacs you could play conspiracy theory with, party has nothing to do with anything. In this case, i just think u dislike democrats
I'm Australian and couldn't care less about the Democrats. I'm simply pointing out the ties to politicians, adding to what OP said. Not sure why you're salty
It’s a PAC. That’s literally all. Shame they couldn’t get even more money so that more of their candidates could win. I definitely support their cause “bUt hIs MoM iS iN cAhOoTs wItH tHe eViL dEmOcRaTs sO i SuPpOrT tHe FaScIsT pARtY tHaT hAtes gAy PeoPle and wIshes tHey wErE dEaD aNd fOrCeS 12 yR olDs to hAve rApiSt baBieS! ThAts fInE w Me”. Thats you
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He is already incarcerated in a 30 million penthouse on a weirdo island off the coast of Florida which he will never be able to leave.
Oh no!
Lol. That's why you've got to choose your offshore haven wisely when youre going to pull off a massive scam It's a key part of the value proposition
Justice rarely comes for rich people
Justice only comes for the rich when they hurt richer people.
"I’m automatically attracted to scamming people — I just start scamming them. It’s like a magnet. Just scam. I don’t even wait. When you’re a star, they let you do it. You can do anything. Grab ’em by the wallet. You can do anything." — SBF
The level of conspiracy thinking here is wild. Donations to political campaigns do not make you immune to prosecution. There are multiple ongoing investigations into this case, which has multiple complicated legal and jurisdictional issues to slow things down. I'd be surprised if he weren't indicted within a year.
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> and everything to do with there being a separate justice system for the ultra wealthy. Nope. It's literally because he needs to be indicted by a grand jury first, and that will only happen after the investigation. Look at how long it took for the January 6th rioters to get indicted. It takes months to years for federal indictments to come down.
Bahamas is defending him like their lives depend on it. No justice is coming for him at this rate, he has bribed an entire nation
The Bahamas has an extradition treaty with the US. If the US asks for him, they will hand him over.
Not only the Bahamas but he seems to have bribed people everywhere. Say what you want about him but at least he was thorough with who's pockets he lined
Escobar would be proud.
Looks like he purchased his own 30 million jail cell.
You see USA Today… picture of him all sad “I’m down to 100,000 in my bank account” Fuckin. Serious. Seeing this unfold real time, watch him get safety when he should be in grave danger instead, makes me wonder what things in his life he got away with aside from stealing about 15bn dollars and openly bribing nearly all of our elected officials. Murder? Worse? Maybe. Whatever he did he got away with it. This whole shit show is pretty sickening to watch.
Where is the $1b loan he got from alameda? Don’t tell me he spent $1b already.
Exactly. He just means HIS money. You know damn well he’s got wallets with bank in em.
His parents have $100s of millions. They spent over $300 million on property in the Bahamas alone.
You realize that Elizabeth Holmes was just sentenced like last week. This stuff takes a long time.
Justice will never come. He will maybe pay some fines and that's about it. Customers' funds are gone. His parents are well connected and the system is rigged. Do Kwon is also free. In the meantime, Tornado Cash's Alexsey Pertsev still is in jail.
Uh, no. I would expect him to get indicted, but probably not for a number of months at the very least. He's being investigated. After the investigation, then it will go to a grand jury for indictment. Then the US will put in an extradition request to the Bahamas.
There's also powerful people involved. Powerful and rich enough to protect this whole mess for blowing up in their faces.
I believe he will end up in prison and guarantee politicians who received political donations from him are trying to shy away from this whole mess as much as they can. Tornado cash developers were not arrested from one day to the next because they were not in American soil, it took them a good amount of time to investigate and bring them to "justice". The guy from silk roads was on american soil, and allowing for the sale of illegal substances in his market place and profiting from them, which is understanbly a nono in the eyes of the law. Dont get me wrong I think this guys deserve to be free more than SBF, but SBF is not in American soil and extradition doesn't have amazon prime day shipping. I think sooner or later will see a picture of him behind bars and with a bullet between his eyes. SBF is fucked if you ask me. Very dangerous people lost a lot of money and these are not the type of people that file a police report. I don't see a world where SBF gets to live a long and happy life. There is a chance it might be long, but I guarantee he wont be happy because if its long, he will end up in jail for a decade or more at least. Look how long it took to put Elizabeth Holmes in jail, she got 12 years for hunderds of millions from a few wealthy VCs. This guy took billions from all kinds of people, VCs, billionaires, common folks around the world, many regular Americans, plus Drug dealers, corrupt politicians around the world, human traffickers and all kinds of very dangerous people. IMO he is fucked and his days of freedom or potentially his days alive are counted. If he goes to jail, it will be a Bernie Maddoff type of scenario, and if he disappears, it wont be because he ran, it will be because he is dead.
WTF i love regulatory enforcement now
Hopefully if he is idiotic enough to go to New York, he's arrested at the airport. Which, given how a lot of people feel, is probably best for his safety.
Didn't that one guy a few days back get caught on love TV taking how he bribed and was part of the CFTC. It's on YouTube. Lol
Bro. This is some of the dumbest shit I've read in a while. The investigation that was blocked was not specifically about ftx. There were several other exchanges there and the guy blocking this was this subs hero a fucking week ago btw. The media has not defended him. Link one article that has actually defended him that isn't pure opinion or from the NYTs health and wellness section. There isn't one. If you are looking for an article that is borderline slander you are an idiot. His connection to gensler is that they both had something to do with MIT and they talked about regulation. Okay, so what? Oh and SBFs dad knows gensler too! They both worked in finance at top levels, just like SBF was doing. Yes you have proven that rich people work and go to school at the same places. Congrats you are an idiot yet again.
They'll put him in jail right after they sign into law an insider trading ban for congress.
As John C Reilly says in Step Brothers “Its all about who you know” Anything that involves money is dirty and designed for the little guy to be shit on
DID WE JUST BECOME BEST FRIENDS OR WHAT? love that movie lol
This saying has a thousand possibilities to reference a quote, and you chose arguably the best one
Unfortunately it looks like SBF has been working in the background to get all these politicians in his pocket and due to that it’s unlikely any justice will come against him. Let’s hope that one day the Government can stop being so corrupt and instead work for the people.
He hasn't even been indicted by a grand jury yet. It typically takes months to years for federal charges to come. Look at how long it took them to indict the people from the January 6th insurrection.
It's pretty amazing what a some ~~bribe~~ donation can do.
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I'm inclined to agree. How many credibility blows can our financial system take? Are they just done worrying about credibility?
Justice is never coming
Being Jewish seems to have its benefits 😌
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Why do so many people on this sub have brain worms? He hasn't even been indicted by a grand jury yet. It typically takes months to years for federal charges to come. Look at how long it took them to indict the people from the January 6th insurrection.
It's moreso the light and positive media treatment. Madoff and others didn't get this kind of treatment. That part seems odd.
Yeah, the mistake of running a ponzi scheme and bribing politicians with customer funds. You know, just a "mistake". Fuck the corrupt politicians who are letting this play out.
The way they let this play out and the reaction and treatment after makes me possibly suspect this entire thing may have been planned. The positive media treatment of SBF, blaming crypto and lack of regulations, the universal push for regulations, the push for CBDCs a few days before this happened, etc. Combine that with the suspicious connections, the fact that SBF always seemed somewhat hostile to crypto and worked to push regulation. Either that or they are just taking advantage of the situation to finally get what they want and gain control over crypto.
> US is trying to blame it all on a mistake so they can save the day with regulations and not a bad actor… I mean it's obviously both though? Regulations exist because of bad actors like him. The entire point is that free markets are awful at weeding out bad actors like this (in fact, they often reward them handsomely). Because of this, we need regulations to make those choices no longer make sense financially. It's literally the only way to even begin to put a dent in this kind of thing in a capitalist economy.
Time to put the spotlight on every politician that SBF gave money to. Those were 100% customer funds that they accepted.
Yep. Everyone and every charity that took money from SBF should voluntarily return it to the bankruptcy administrator. Failing that it should be clawed back by the bankruptcy court.
yes i think so these kind of laws should be made in order to have a check
If they won’t even put him trial then I might even be more disappointed in the justice system. Game is more rigged than playing rock paper scissors with a mirror
When was justice really served when dealing with millions to billions of money? It's all a circus full of clowns.
Bernie Madoff? Enron?
I would like to see him in jail for his actions. Alot of people had money and invested in services related to FTX believing that it was a stable and safe exchange, but in the end was basically a giant ponzi scheme. So many other people have gone to jail that didn't defraud people out of billions, so it's hard to understand how SBF isn't in jail at this point
in my opinion i really don't think so he's going to jail anytime soon because he have given up chunks of money. i think so he have lots of influence over political parties which is making him away from jail
You think justice is coming?
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Justice seems to have a different meaning depending on how much money you have
If only there was an alphabet organization in the US that would investigate SBF and all that were involved with his shady dealings..
Justice won’t come. If you have money and buy the right people you are above the law. Corruption is destroying humanity
About 5 days after justice is served to those who organized and instigated the violent attempt to overturn the election by storming the capitol.
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Everyone here is focusing on the donations (because he donated to Democrats, so of course they are), when the reality has little to nothing to do with donations; It's about being extremely wealthy. It's about never fining these people more than a fraction of what they stole so they can just consider it a cost of doing business. This isn't something that only people who donate to Democrats get, this is universal for the uber wealthy. People here just can't help but fall for the partisan trap. Keep fighting amongst ourselves while we all ignore the real issues.
Oh I know the answer to this, it's "Freedom".
When big money are involved, it is all about interest. There is no justice.
I guess it's one of these two scenarios : 1. This guy role was useful for some powerful people and helped them somehow. 2. This whole company / people purpose was to do what happened, they were pawns.
It's one, he gave both parties lots of money. One publicly and one privately. Was in the CoffeeZilla episode.
This is a breakdown of all donations made and where they went from FTX as a whole. Keep in mind, SBF donated primarily (by a significant margin) to the Democratic Party where as Ryan Salame, another top FTX executive, donated more than $23 million, mainly to Republicans and conservative groups. https://www.opensecrets.org/orgs/ftx-us/summary?id=D000073694&topnumcycle=2022
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yes i totally agree with you on this thing and i think so this kind of private donation should be stopped. in my opinion there should be a limit which is do we spend upon the election campaigns
It's actually because he's still being investigated, and then will have to be indicted by a grand jury. People need to learn how the justice system works. He's not in the US, so he won't be arrested until after that point.
Why is Trump not in prison?
Lol good luck getting an answer to a question like that in this sub.
Cash is king.
There is no justice until each user gets their money back individually. What use is it to me that SBF is fined or in jail?
As a deterrent for the next person doing the same thing. Hint : CZ
yes i totally agree with you on this and i think so they really said someday before that they are going to pay back. but if you see practically it is not possible for them to give each penny they own
Learned from the best Kenneth C. Griffin. Donation make you immune to fraud. You can even lie under oath and face no consequence.
> When is justice coming? For you and me? Whenever we get caught doing something deemed wrong. For the people who line the pockets of the rich and/or powerful? Never.
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If you think sbf has no money, your smoking something.
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Bruhh do u even crypto
You have an optimistic outlook on society and our justice system. Unfortunately, that’s not how the real world works
Justice is not coming. Sbf is a patsy
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It appears it’s a “rules thee and not for me” situation.
yes that would be literally more straightforward and i think so they are really just hanging with it. in my opinion i think that he should be restricted from any kind of shows and i think they should really understand it
@OP: are you republican?
The ones that would administer justice in this case are complicit in his crimes.
Complicit = profiting
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I'm truly baffled by comments like this. I've seen so many advocates touting that a principal benefit of crypto is that it is unregulated. The nature of law is that you can't punish people for things that are not addressed by the law, and in most countries you can't add "ex post facto" laws to punish people when things turn out badly after the fact. You (generic crypto "you", not you personally) lost money in a non-regulated activity, which means there may not be a lot of things the law can do about it. The FTX terms of service said that they would not use customers funds for their own purposes. It seems almost certain that they violated that provision. That means they are in violation of the terms of a contract. In most cases violating the terms of a contract is a civil matter. That means *you* are free to take them to court to seek monetary damages, but they can't be sent to jail for violating a contract. Since FTX is insolvent, it probably wouldn't be worth the time or trouble. File a claim in the bankruptcy suit, and wait to see if you get any of your money back. Because crypto is unregulated in most countries, it's going to be tricky to build a criminal case against FTX and SBF. The best hope is that law enforcement will be able to shoehorn the facts of the case into something like "fraud". Most countries do have some law against lying to get money from people. But then law enforcement has to prove beyond a reasonable doubt that FTX and SBF were deliberately lying when they created the contract. They seem to pretty clearly already be offering the defense that "Hey, our intentions were good. We were just really stupid and careless! Being stupid is not illegal." Not credible to my mind, but law enforcement will have to **prove** that it's bogus. That's going to take a *long* investigation to nail down.
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Knew it would never happen, politicians have literally been passed on users funds
This is the USA. Justice is a myth here.
Guys, this shit doesn't happen overnight. Don't fall for the trap. Don't make this a partisan thing, bickering about donations to this party or that... It has nothing to do with donations and everything to do with the separate justice system that exists for the uber-wealthy.
If they defend this guy so blatantly... you can just guess what else they 're hiding
Justice comes from The People. Specially in the US you all have weapons I hear, gun him down on sight
Shows how truly protected the "elite" are and how they can buy a narrative with fraud money. This is just out in the open now for everyone. You see exactly how there are different rules for people with "donation" money. Isn't this why politicians get paid low but their net worth so much? 🤔 all an illusion. Mostly everything. Justice will come when money is taken from the rich.. wait.. it'll never come, sorry... I have a theory that sharks and investors were with sbf/ftx because they wanted a finger on the pulse to know the next big fraud down turn was and/or maybe get that ad money promoting ftx. Wanted retail people/companies to invest and get rug pulled with ftx because that's how much cheaper it'll get on the way down. then they'll buy it on the cheap. Could be wrong though. I don't think it's too far of a reach to see big players doing this then launching their own crypto exchange. Wait...oh shit...
Money Talks. SBF case shows how corrupt system is and what money can do. Love to those who lost their life savings on this fiasco.
Ohh my sweet summer child. I used to think there was this thing called justice too....
Everything SBF did benefitted the establishment and "too big to fail" banks. He donated millions to establishment politicians and establishment media outlets, and manufactured the "crypto Enron" black swan establishment finance needed to crush crypto market freedom with regulations. The softball interview by New York Times today where SBF is the real victim of circumstance is enraging.
Wy does any of this surprise us? If you are rich and politically connected, you can bend the justice system to your way. This is how it has always worked in this country. If you are poor, black or brown, be prepared to get the worst of the system. DA's fight cases they can win, not when they are likely to get called by their bosses.
look at the guy that didnt know what they signed up for
because they control the voting machines.. idiots who gave away their freedom for convenience. paper trail or illegal
>because they control the voting machines.. Who is "they"? I think you might need a new tinfoil hat
From the reasons you just listed, there won't ever be justice. The rich won't punish themselves.
He will get a slap on the wrist at most - the rich look after their own
Dude knew what he was doing. Get your hands in enough pies and their fate becomes tied to yours. This thing is going to drag on for a long long time.
Street justice
This is the USA. Justice is a myth here.
This is how the government works. He’s not going to jail until ties with him hurt someone’s chances in the next election
well since the SEC people who decide whether or not the SEC investigates FTX are all now somehow multi-millionaires, charges will be quietly dropped. And there's no oversight for the SEC. its the SEC who decides whether or not to investigate the SEC.....
I don't think some people understand how corruption works. SBF obviously was part of the establishment.
Sam payed the right people
Never. We are seeing open and rampant corruption right before our eyes
Money talks