Sam Bankman-Fried said he was down to his last 100k, but now he's a free man after posting $250 million bail

rojo · 2022-12-22T20:16:07-05:00

Can we believe anything this guy says?The thing I don't get about FTX at all is what was the end game for these people? Did they really think the price of their made up token would just keep going up and up and up and they'd never be exposed? It was bound to be exposed.If I was him, I would never have done what he did but once i did I would have tried to flee. Again, what was his end-game? Does he really think he won't get convicted?Now that he can't really flee, I'd plead guilty.But I guess the longer a trial goes on, the longer he getes to enjoy freedom in his 20s. Maybe he should have a kid like Elizabeth Holmes. Somehow she only got 11 years when Madoff got 150+.

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3 years ago 12/23/2022 9:34pm EST

re: rojo

Well as has now been determined, it's not a liquid $250'000'000 they have to front - it's an arbitrary amount which essentially the court comes up with to basically say "if your kid disappears we get everything you have and we mean EVERYTHING ". So really all they have to do is pick an amount more than what they think the family has in every little nook and cranny and set bail at that. The family might be rich but it would (obviously) have to be insanely rich to have more than that locked up in a house, retirement accounts, and any other set of assets. Pretty sure they did their homework on the Bankman-Frieds.

What I want to know is how he still has $100'000 in a bank account. How many Americans have $100k in a freaking bank account - let alone ones who are on the verge of decades in jail? The guy should have $0 in his bank account - that 100 gees should be frozen/suspended/taken as a liquid security for that massive bail amount.

3 years ago 12/24/2022 6:34am EST

re: Bojangles, Mr.

Bojangles, Mr. wrote:
Newname wrote:
So nobody had to put up a dime.
His parents had to put up their house and someone else (who is known to the court and prosecutors) had to put up more collateral to the tune of around $10-25 million, which is a lot more than a dime.
Carmine wrote:
Looks like he is already getting special treatment.
Yeah, right. The same federal prosecutors who hustled and within weeks, when it usually takes months or even years, charged him with 8 felonies punishable by decades in prison, and then demanded the largest bail in US history are giving him "special treatment."

He out up $0. Only his parents house -- valued @ $4 million -- was put up. How is this $250 million? 10% bond would mean $25 million in cash to a bail bondsman which he or she would keep. Not required for SBF. The special treatment has already begin. You don't see this?

3 years ago 12/24/2022 10:36am EST

re: Newname

He's got friends in high places...He donated to 45 Democrats..

3 years ago 12/24/2022 12:03pm EST

re: Newname

Newname wrote:
Bojangles, Mr. wrote:
His parents had to put up their house and someone else (who is known to the court and prosecutors) had to put up more collateral to the tune of around $10-25 million, which is a lot more than a dime.
Yeah, right. The same federal prosecutors who hustled and within weeks, when it usually takes months or even years, charged him with 8 felonies punishable by decades in prison, and then demanded the largest bail in US history are giving him "special treatment."
He out up $0. Only his parents house -- valued @ $4 million -- was put up. How is this $250 million? 10% bond would mean $25 million in cash to a bail bondsman which he or she would keep. Not required for SBF. The special treatment has already begin. You don't see this?

No, I don't see it for the reasons mentioned above. The prosecutors you pretend are giving him special treatment investigated and charged him with 8 felonies including wire fraud, securities fraud and money laundering, extradited him from the Bahamas, and put him in jail on the highest bail in American history -- they give lower bail to people charged with murder, assault and insurrection against the United States. He's got an electronic ankle bracelet and he can't go anywhere. They got his girlfriend to roll on him. The Feds absolutely squashed him.

And you are wrong and/or lying, as usual. A 10% bond would NOT mean $25 million in cash. It would mean $25 million in collateral value. Houses and land and businesses can, and often are, put up for bail. SBF's bail worked the same way as anyone else's bail.

SBF has received NO special treatment at all, and I guarantee you he will be pleading guilty to several felonies next year and be sentenced to many years in prison. And by then, you'll have moved on to some other catchy, shiny thread where you can post more idiot conspiracy garbage.

3 years ago 12/24/2022 2:44pm EST

re: Bojangles, Mr.

Bojangles, Mr. wrote:
Newname wrote:
He out up $0. Only his parents house -- valued @ $4 million -- was put up. How is this $250 million? 10% bond would mean $25 million in cash to a bail bondsman which he or she would keep. Not required for SBF. The special treatment has already begin. You don't see this?
No, I don't see it for the reasons mentioned above. The prosecutors you pretend are giving him special treatment investigated and charged him with 8 felonies including wire fraud, securities fraud and money laundering, extradited him from the Bahamas, and put him in jail on the highest bail in American history -- they give lower bail to people charged with murder, assault and insurrection against the United States. He's got an electronic ankle bracelet and he can't go anywhere. They got his girlfriend to roll on him. The Feds absolutely squashed him.
And you are wrong and/or lying, as usual. A 10% bond would NOT mean $25 million in cash. It would mean $25 million in collateral value. Houses and land and businesses can, and often are, put up for bail. SBF's bail worked the same way as anyone else's bail.
SBF has received NO special treatment at all, and I guarantee you he will be pleading guilty to several felonies next year and be sentenced to many years in prison. And by then, you'll have moved on to some other catchy, shiny thread where you can post more idiot conspiracy garbage.

Bojangles, quit simping for SBF. He stole billions of dollars from investors and deserves to rot, Madoff style.

3 years ago 12/24/2022 3:32pm EST

re: rojo

SBF is in the gambling entertainment casino business. Watch a American nfl football 🏈 🏀 game and bet on the over under with draft kings and while you’re at it give your boy SBF some fiat money to get some shtcoins 💩 via FTX. Basically you give him (or any exchange leader in crypto) real money in exchange for fake money/crypto poker chips (stablecoins), and he and all the leaders in crypto take the real money and spend it on real tangible things of value (eg real estate), waste it on luxury goods and experiences (eg yacht with strippers, Miami nightclubs). SBF provided Carmine, Yep, and other crypto owners an entertainment service in exchange for a voluntary donation (i.e. an “initial investment”) and they and others went along for the entertainment ride so that SBF, his girlfriend and his buddies could take the money and blow it on fun things for themselves. (These participants chose to do this despite all the warnings from IRS and SEC that the crypto industry is full of fraudsters and offers no investor protections / this was over a year ago too). Thanks for playing and good luck to the remaining participants at the table in this massive massive scam

3 years ago 12/24/2022 3:35pm EST

re: runnerboy70

runnerboy70 wrote:
He's got friends in high places...He donated to 45 Democrats..

Sorry to say but it’s true: His victims were mostly poor libertarian-leaning anti govt millennials (and gen z …but 25% of all millennials owned some of the 💩) with low FICO scores.

Ted Cruz praised his poo 💩 miners in Texas 🤠 and Jared Polis went to meet fruitcake Vitalik Buterin in Denver.

3 years ago 12/24/2022 3:39pm EST

re: rojo

Total scam, negative sum game, nothing produced & nothing technologically innovative, just crooks and greedy scumbags taking fiat from the poor (who think they’re being rebels) and shifting the poker chips/stablecoins around

currency.com

Wash Trading And Crypto | What Is Happening?

Wash trading, a form of market manipulation, appears to be prevalent in crypto exchanges. For more about the wash-trading problem, read on…

Open link

3 years ago 12/24/2022 3:51pm EST

re: Sh||tcoin Gambler

Sh||tcoin Gambler wrote:
runnerboy70 wrote:
He's got friends in high places...He donated to 45 Democrats..
Sorry to say but it’s true: His victims were mostly poor libertarian-leaning anti govt millennials (and gen z …but 25% of all millennials owned some of the 💩) with low FICO scores.
Ted Cruz praised his poo 💩 miners in Texas 🤠 and Jared Polis went to meet fruitcake Vitalik Buterin in Denver.

stilt.com

94% of Crypto Buyers are Gen Z/Millennial, but Gen X Spends More

Frank Gogol

In this analysis, we explore who is buying cryptocurrency using Stilt's deep data set and we glean some interesting findings. Check it out!

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3 years ago 12/24/2022 3:56pm EST

re: Sh||tcoin Gambler

You gotta be a macho man and go all in though

cnbc.com

Owning cryptocurrency may make you more desirable on the dating scene, study finds

https://www.facebook.com/CNBC

Investing in digital currencies can impact more than just your financial standing. It may even score you a date.

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3 years ago 12/24/2022 4:20pm EST

re: Jamb innnnnnn

Jamb innnnnnn wrote:
Bojangles, Mr. wrote:
No, I don't see it for the reasons mentioned above. The prosecutors you pretend are giving him special treatment investigated and charged him with 8 felonies including wire fraud, securities fraud and money laundering, extradited him from the Bahamas, and put him in jail on the highest bail in American history -- they give lower bail to people charged with murder, assault and insurrection against the United States. He's got an electronic ankle bracelet and he can't go anywhere. They got his girlfriend to roll on him. The Feds absolutely squashed him.
And you are wrong and/or lying, as usual. A 10% bond would NOT mean $25 million in cash. It would mean $25 million in collateral value. Houses and land and businesses can, and often are, put up for bail. SBF's bail worked the same way as anyone else's bail.
SBF has received NO special treatment at all, and I guarantee you he will be pleading guilty to several felonies next year and be sentenced to many years in prison. And by then, you'll have moved on to some other catchy, shiny thread where you can post more idiot conspiracy garbage.
Bojangles, quit simping for SBF. He stole billions of dollars from investors and deserves to rot, Madoff style.

Your reading comprehension is poor, Jambo. You are the type of person that SBF looks for when employing his schemes.

3 years ago 12/24/2022 4:22pm EST

re: Bojangles, Mr.

No one can possibly run a crypto business and not steal customers’ money (Since it’s worse than trash/poo 💩and doesn’t produce anything of value) 🤷‍♂️

3 years ago 12/24/2022 4:23pm EST

re: runnerboy70

runnerboy70 wrote:
He's got friends in high places...He donated to 45 Democrats..

Higher than that.

3 years ago 12/24/2022 4:24pm EST

re: Bojangles, Mr.

Bojangles, Mr. wrote:
Jamb innnnnnn wrote:
Bojangles, quit simping for SBF. He stole billions of dollars from investors and deserves to rot, Madoff style.
Your reading comprehension is poor, Jambo. You are the type of person that SBF looks for when employing his schemes.

Madoff did his time in Club Fed

3 years ago 12/24/2022 4:29pm EST

re: Sh||tcoin Gambler

Sh||tcoin Gambler wrote:
SBF is in the gambling entertainment casino business. Watch a American nfl football 🏈 🏀 game and bet on the over under with draft kings and while you’re at it give your boy SBF some fiat money to get some shtcoins 💩 via FTX. Basically you give him (or any exchange leader in crypto) real money in exchange for fake money/crypto poker chips (stablecoins), and he and all the leaders in crypto take the real money and spend it on real tangible things of value (eg real estate), waste it on luxury goods and experiences (eg yacht with strippers, Miami nightclubs). SBF provided Carmine, Yep, and other crypto owners an entertainment service in exchange for a voluntary donation (i.e. an “initial investment”) and they and others went along for the entertainment ride so that SBF, his girlfriend and his buddies could take the money and blow it on fun things for themselves. (These participants chose to do this despite all the warnings from IRS and SEC that the crypto industry is full of fraudsters and offers no investor protections / this was over a year ago too). Thanks for playing and good luck to the remaining participants at the table in this massive massive scam

SBF stole his customers money. Period. Got nothing to do with crypto other than the fact the decline in the value of crypto caused customers to try and retrieve their money -- and SBG had stolen it

3 years ago 12/24/2022 4:32pm EST

re: kumQuat

kumQuat wrote:
Sh||tcoin Gambler wrote:
SBF is in the gambling entertainment casino business. Watch a American nfl football 🏈 🏀 game and bet on the over under with draft kings and while you’re at it give your boy SBF some fiat money to get some shtcoins 💩 via FTX. Basically you give him (or any exchange leader in crypto) real money in exchange for fake money/crypto poker chips (stablecoins), and he and all the leaders in crypto take the real money and spend it on real tangible things of value (eg real estate), waste it on luxury goods and experiences (eg yacht with strippers, Miami nightclubs). SBF provided Carmine, Yep, and other crypto owners an entertainment service in exchange for a voluntary donation (i.e. an “initial investment”) and they and others went along for the entertainment ride so that SBF, his girlfriend and his buddies could take the money and blow it on fun things for themselves. (These participants chose to do this despite all the warnings from IRS and SEC that the crypto industry is full of fraudsters and offers no investor protections / this was over a year ago too). Thanks for playing and good luck to the remaining participants at the table in this massive massive scam
SBF stole his customers money. Period. Got nothing to do with crypto other than the fact the decline in the value of crypto caused customers to try and retrieve their money -- and SBG had stolen it

How could he have known if there’s no regulations surrounding the pool of fiat gambling And the other exchanges are overseas!? He’s a scapegoat from all the overseas crooks

3 years ago 12/24/2022 4:36pm EST

re: kumQuat

kumQuat wrote:
Sh||tcoin Gambler wrote:
SBF is in the gambling entertainment casino business. Watch a American nfl football 🏈 🏀 game and bet on the over under with draft kings and while you’re at it give your boy SBF some fiat money to get some shtcoins 💩 via FTX. Basically you give him (or any exchange leader in crypto) real money in exchange for fake money/crypto poker chips (stablecoins), and he and all the leaders in crypto take the real money and spend it on real tangible things of value (eg real estate), waste it on luxury goods and experiences (eg yacht with strippers, Miami nightclubs). SBF provided Carmine, Yep, and other crypto owners an entertainment service in exchange for a voluntary donation (i.e. an “initial investment”) and they and others went along for the entertainment ride so that SBF, his girlfriend and his buddies could take the money and blow it on fun things for themselves. (These participants chose to do this despite all the warnings from IRS and SEC that the crypto industry is full of fraudsters and offers no investor protections / this was over a year ago too). Thanks for playing and good luck to the remaining participants at the table in this massive massive scam
SBF stole his customers money. Period. Got nothing to do with crypto other than the fact the decline in the value of crypto caused customers to try and retrieve their money -- and SBG had stolen it

The fiat just simply isn’t there to back the fake numbers shown in crypto coins. It was already spent a long time ago. Without regulation there are no reserves

There are NO dollars attached to cryptos. Unlike regular companies, every penny that is "invested" in crypto is immediately pocketed by someone else -- miner, earlier "investor", exchange owner... Not a penny is stored, anywhere, in any form that belongs to the coin holders.
— Jorge Stolfi (@JorgeStolfi) December 23, 2022

View on X

3 years ago 12/24/2022 4:39pm EST

re: Sh||tcoin Gambler

Sh||tcoin Gambler wrote:
kumQuat wrote:
SBF stole his customers money. Period. Got nothing to do with crypto other than the fact the decline in the value of crypto caused customers to try and retrieve their money -- and SBG had stolen it
How could he have known if there’s no regulations surrounding the pool of fiat gambling And the other exchanges are overseas!? He’s a scapegoat from all the overseas crooks

You making excuses for this thief? He stole customers money and you want to blame overseas crooks.

3 years ago 12/24/2022 4:44pm EST

re: kumQuat

kumQuat wrote:
SBF stole his customers money. Period. Got nothing to do with crypto other than the fact the decline in the value of crypto caused customers to try and retrieve their money -- and SBG had stolen it

Crypto is a delusion hidden under the guise of some sort of magical technological innovation where you can pretend to be rich with fake money (stablecoin is needed since real banks won’t touch the stuff), until the fake number shown on the screen stops going up…then crypto customer ie scam victim wants his fiat back in return for clown money …and big surprise…. the fiat is gone and nowhere to be found… &no one could have seen this coming (sarcasm)

3 years ago 12/24/2022 4:45pm EST

re: kumQuat

kumQuat wrote:
You making excuses for this thief? He stole customers money and you want to blame overseas crooks.

He’s an overseas crook too. It’s not a coincidence he took business to “crypto friendly” areas (Bahamas)

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Sam Bankman-Fried said he was down to his last 100k, but now he's a free man after posting $250 million bail

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