25 years for Crypto Boy
Sam Bankman-Fried got his sentence today. Twenty-five years in federal prison. He might actually serve as little as half that. But unless his Trumpy lawyer can get his conviction overturned, his parents can turn his basement bedroom into a wine cellar.
Some people are way too smart for their own good. Or at least, they think they're smart.
I guess SBF isn't going to expose what the deals were with all the tens of millions he and his proxies gave to political campaigns, including right here in Oregon. The feds aren't going anywhere with that angle. Too many prominent politicians involved. "See? He's going to jail. Case closed, all neat and tidy."
Meanwhile, fools can't help themselves and are throwing their life savings into cryptocurrency again. I will have no sympathy for those folks when the next SBF comes along and steals it.
Somewhat related, this VERY INTERESTING overview of the crap going down in Salem is a must read: https://fidelitypdx.substack.com/p/cylvia-hayes-20-and-a-short-list
ReplyDeleteThe Trump angle is really telling.
ReplyDeleteThis comment is a little too profound for me.
DeleteI could see a re-elected Trump offering SBF a commuted sentence in exchange for exposing the kind of dirt that would sink a couple Senators.
DeleteHi Jack, as this is a federal crime, the most he can get off for good behavior is 15%. So worst case scenario, unless the sentence is overturned, he will need to serve 21.25 years.
ReplyDeleteDon't forget, this autistic-spectrum kid is the fall guy.
DeleteThe media quoted some criminal law expert as saying he could get 50% off. I’m no expert.
DeleteCNN: Federal prisoners generally can earn up to 54 days of time credit a year for good behavior, which could result in an approximately 15% reduction.
DeleteSince 2018, however, nonviolent federal inmates can reduce their sentence by as much as 50% under prison reform legislation known as the First Step Act.
Epner says the First Step Act was billed as a civil rights measure, to help minority offenders who committed non-violent drug-trafficking offenses.
"It has turned out to be an enormous boon for white-collar criminal defendants, who are already given much lower sentences ... than drug-traffickers," Epner added.