Anonymous
11/03/2023 18:24
Subject: SBF guilty on all counts
Anonymous wrote:SBF's Dad taught business tax law.
SBF's Mom taught legal ethics.
I suspect his Dad steered the company to the Bahama's location so they would not be subject to US laws and for tax evasion purposes. His Dad would have known how to evade corporate taxes.
Oh god. No. It’s because it was of uncertain legality to operate a crypto exchange on US soil.
Anonymous
11/03/2023 18:23
Subject: Re:SBF guilty on all counts
Anonymous wrote:Anonymous wrote:Anonymous wrote:Coverage of this story is pathetic, compared to the Bernie Madoff case:
Where are the stories about this people who lost their life savings?
Where are the stories about how much money is still missing?
Where are the stories about how many other crypto criminals are going to be prosecuted?
Where are the stories addressing the range if possible prison sentences?
Where are the stories about parent culpability?
Very little ink being spilled on this vs. Madoff. Why?
Well, one reason might be that a substantial portion of the missing money has been found.
This is a very different kind of fraud. He wasn’t stealing money to fund his lifestyle. He was making loans of customer deposits to his hedge fund to make risky investments. Some of which paid off and will eventually be liquidated and returned to customers.
Please link a recent story quantifying this substantial portion that has been found.
Four days ago, Forbes:
https://www.forbes.com/sites/digital-assets/2023/10/30/ftx-customers-should-recoup-most-of-their-losses-unless-irs-bigfoots-them/?sh=1ea7c5195b22
Anonymous
11/03/2023 18:23
Subject: SBF guilty on all counts
SBF's Dad taught business tax law.
SBF's Mom taught legal ethics.
I suspect his Dad steered the company to the Bahama's location so they would not be subject to US laws and for tax evasion purposes. His Dad would have known how to evade corporate taxes.
SBF's Mom taught legal ethics.
I suspect his Dad steered the company to the Bahama's location so they would not be subject to US laws and for tax evasion purposes. His Dad would have known how to evade corporate taxes.
Anonymous
11/03/2023 18:21
Subject: Re:SBF guilty on all counts
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Coverage of this story is pathetic, compared to the Bernie Madoff case:
Where are the stories about this people who lost their life savings?
Where are the stories about how much money is still missing?
Where are the stories about how many other crypto criminals are going to be prosecuted?
Where are the stories addressing the range if possible prison sentences?
Where are the stories about parent culpability?
Very little ink being spilled on this vs. Madoff. Why?
I think in many people's minds it is "fake" money so the sorts of people who are truly hurt are investment bros and venture capital firms. Not elderly who everything with Bernie.
Yup. I'm glad SBF is going to jail but the "victims" here are veery different from Madoff.
Madoff was an affinity scam and the average loss per person was larger. SBF scammed millions of more people out of smaller amounts. A lot of those scammed by SBF were low income wage earners looking to get rich.
SBF didn’t steal money. He lost it on bad bets.
Madoff pretended to be investing but really just spent it.
SBF invested it but then lost a lot of it in the crash.
But he may well have only wiped himself out and left enough money to leave all the customers whole, according to the bankruptcy proceedings.
Anonymous
11/03/2023 18:21
Subject: Re:SBF guilty on all counts
Anonymous wrote:Coverage of this story is pathetic, compared to the Bernie Madoff case:
Where are the stories about this people who lost their life savings?
Where are the stories about how much money is still missing?
Where are the stories about how many other crypto criminals are going to be prosecuted?
Where are the stories addressing the range if possible prison sentences?
Where are the stories about parent culpability?
Very little ink being spilled on this vs. Madoff. Why?
Because of the extremely large democratic donations facilitated by SBM's Mom. Many, many, many millions went to Democratic politicians.
In general a lot of low income wage earners lost a money, i.e. a person would invest $100 at the convenience store kiosk in hopes of getting rich.
Anonymous
11/03/2023 18:20
Subject: Re:SBF guilty on all counts
Anonymous wrote:Anonymous wrote:Coverage of this story is pathetic, compared to the Bernie Madoff case:
Where are the stories about this people who lost their life savings?
Where are the stories about how much money is still missing?
Where are the stories about how many other crypto criminals are going to be prosecuted?
Where are the stories addressing the range if possible prison sentences?
Where are the stories about parent culpability?
Very little ink being spilled on this vs. Madoff. Why?
Well, one reason might be that a substantial portion of the missing money has been found.
This is a very different kind of fraud. He wasn’t stealing money to fund his lifestyle. He was making loans of customer deposits to his hedge fund to make risky investments. Some of which paid off and will eventually be liquidated and returned to customers.
Please link a recent story quantifying this substantial portion that has been found.
Anonymous
11/03/2023 18:19
Subject: Re:SBF guilty on all counts
Anonymous wrote:Anonymous wrote:Anonymous wrote:Coverage of this story is pathetic, compared to the Bernie Madoff case:
Where are the stories about this people who lost their life savings?
Where are the stories about how much money is still missing?
Where are the stories about how many other crypto criminals are going to be prosecuted?
Where are the stories addressing the range if possible prison sentences?
Where are the stories about parent culpability?
Very little ink being spilled on this vs. Madoff. Why?
Well, one reason might be that a substantial portion of the missing money has been found.
This is a very different kind of fraud. He wasn’t stealing money to fund his lifestyle. He was making loans of customer deposits to his hedge fund to make risky investments. Some of which paid off and will eventually be liquidated and returned to customers.
He was totally funding a lifestyle
It’s just the sums involved we so much so fast the private jets and beach holes and apocalypse bunker were rounding errors
I think victims were a lot of unsympathetic cryptobros and criminals. So not seeking publicity or make for good story.
Funding a lifestyle? Yes. With customer deposits? Wrong.
Anonymous
11/03/2023 18:17
Subject: Re:SBF guilty on all counts
Anonymous wrote:Anonymous wrote:Anonymous wrote:Coverage of this story is pathetic, compared to the Bernie Madoff case:
Where are the stories about this people who lost their life savings?
Where are the stories about how much money is still missing?
Where are the stories about how many other crypto criminals are going to be prosecuted?
Where are the stories addressing the range if possible prison sentences?
Where are the stories about parent culpability?
Very little ink being spilled on this vs. Madoff. Why?
I think in many people's minds it is "fake" money so the sorts of people who are truly hurt are investment bros and venture capital firms. Not elderly who everything with Bernie.
Yup. I'm glad SBF is going to jail but the "victims" here are veery different from Madoff.
Madoff was an affinity scam and the average loss per person was larger. SBF scammed millions of more people out of smaller amounts. A lot of those scammed by SBF were low income wage earners looking to get rich.
Anonymous
11/03/2023 18:15
Subject: SBF guilty on all counts
Anonymous wrote:The girlfriend got away with murder here. She has massive culpability and… nothing.
She is expected to do a bit of time in a low security womens prison.
Anonymous
11/03/2023 18:13
Subject: Re:SBF guilty on all counts
Anonymous wrote:Anonymous wrote:Coverage of this story is pathetic, compared to the Bernie Madoff case:
Where are the stories about this people who lost their life savings?
Where are the stories about how much money is still missing?
Where are the stories about how many other crypto criminals are going to be prosecuted?
Where are the stories addressing the range if possible prison sentences?
Where are the stories about parent culpability?
Very little ink being spilled on this vs. Madoff. Why?
I think in many people's minds it is "fake" money so the sorts of people who are truly hurt are investment bros and venture capital firms. Not elderly who everything with Bernie.
Yup. I'm glad SBF is going to jail but the "victims" here are veery different from Madoff.
Anonymous
11/03/2023 18:11
Subject: SBF guilty on all counts
Who is this?
Anonymous
11/03/2023 18:10
Subject: SBF guilty on all counts
The reason that the coverage isn’t good is that journos don’t understand what really happened. Madoff was a simple Ponzi scheme. This was nothing like that.
Anonymous
11/03/2023 18:09
Subject: Re:SBF guilty on all counts
Anonymous wrote:Anonymous wrote:Coverage of this story is pathetic, compared to the Bernie Madoff case:
Where are the stories about this people who lost their life savings?
Where are the stories about how much money is still missing?
Where are the stories about how many other crypto criminals are going to be prosecuted?
Where are the stories addressing the range if possible prison sentences?
Where are the stories about parent culpability?
Very little ink being spilled on this vs. Madoff. Why?
Well, one reason might be that a substantial portion of the missing money has been found.
This is a very different kind of fraud. He wasn’t stealing money to fund his lifestyle. He was making loans of customer deposits to his hedge fund to make risky investments. Some of which paid off and will eventually be liquidated and returned to customers.
He was totally funding a lifestyle
It’s just the sums involved we so much so fast the private jets and beach holes and apocalypse bunker were rounding errors
I think victims were a lot of unsympathetic cryptobros and criminals. So not seeking publicity or make for good story.
Anonymous
11/03/2023 18:08
Subject: Re:SBF guilty on all counts
Anonymous wrote:Coverage of this story is pathetic, compared to the Bernie Madoff case:
Where are the stories about this people who lost their life savings?
Where are the stories about how much money is still missing?
Where are the stories about how many other crypto criminals are going to be prosecuted?
Where are the stories addressing the range if possible prison sentences?
Where are the stories about parent culpability?
Very little ink being spilled on this vs. Madoff. Why?
I think in many people's minds it is "fake" money so the sorts of people who are truly hurt are investment bros and venture capital firms. Not elderly who everything with Bernie.
Anonymous
11/03/2023 18:05
Subject: Re:SBF guilty on all counts
Anonymous wrote:Coverage of this story is pathetic, compared to the Bernie Madoff case:
Where are the stories about this people who lost their life savings?
Where are the stories about how much money is still missing?
Where are the stories about how many other crypto criminals are going to be prosecuted?
Where are the stories addressing the range if possible prison sentences?
Where are the stories about parent culpability?
Very little ink being spilled on this vs. Madoff. Why?
Well, one reason might be that a substantial portion of the missing money has been found.
This is a very different kind of fraud. He wasn’t stealing money to fund his lifestyle. He was making loans of customer deposits to his hedge fund to make risky investments. Some of which paid off and will eventually be liquidated and returned to customers.