The sentencing hearing date will be March 28, 2024. He faces up to 110 years in prison.
Bankman-Fried was found guilty of stealing billions of dollars from accounts belonging to customers of his once-high-flying crypto exchange FTX. He was also found guilty of defrauding lenders to FTX’s sister company, the hedge fund Alameda Research, which held FTX customer funds in a bank account.
So ... It seems .... the scheme may have been bigger than that .... Anyways ... if the 5 billion is solid, and nothing is done with it ... what to do with it? The seduction is a biggie ...
During his trial, Bankman-Fried said he learned in 2020 that FTX customer funds were held by Alameda but he did not take action to safeguard them.
When he later discovered in the fall of 2022 that Alameda owed $8 billion to FTX, no one was fired.
Other charges Bankman-Fried was found guilty of include defrauding investors in FTX and a money-laundering charge.
On the other hand ..... his business was ready to play an integral role to accumulate and dole out the money. ... I wonder what would happen if all ins and outs are set against each other ...
Who are the players appearing? Among others: Sequia Capital [dominion software]? Would that not be something ......
https://www.cnn.com/2023/11/02/business/ftx-sbf-fraud-trial-verdict/index.html
So ... It seems .... the scheme may have been bigger than that .... Anyways ... if the 5 billion is solid, and nothing is done with it ... what to do with it? The seduction is a biggie ...
On the other hand ..... his business was ready to play an integral role to accumulate and dole out the money. ... I wonder what would happen if all ins and outs are set against each other ...
Who are the players appearing? Among others: Sequia Capital [dominion software]? Would that not be something ......
https://www.coindesk.com/policy/2024/05/08/nearly-all-ftx-creditors-will-get-118-of-their-funds-back-in-cash-estate-says-in-new-plan/
Sweet deal.......
Thank you. That sounds about right. Bankers tried to pay him off.