'Crypto King' Sam Bankman-Fried jailed for 25 years I BBC News
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- čas přidán 28. 04. 2024
- Sam Bankman-Fried - also known as SBF - has been sentenced to 25 years in prison for stealing billions of dollars from customers of his cryptocurrency exchange FTX.
The former billionaire CEO faces decades in prison for fraud and conspiracy charges stemming from his role in the collapse of FTX.
Prosecutors say Bankman-Fried took more than $10bn (£7.9bn) from unsuspecting customers in "one of the biggest financial frauds" in US history.
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#Crypto #US #BBCNews
Logan Paul should be jailed with him
😂
@@mbogocapitalwhy’s it funny, it’s true
If celebrities were sent to jail for promoting dodgy crap then 90% of all celebrities would be in jail. So yeah, I'm on board, lets do it!
@@elliottjones9424 it can be both.
Yes @@mbogocapital
He is not taking responsibility because he cannot. Narcissistic manipulators are not able to take responsibility. It is always someone else's fault and never theirs.
It’s typical behaviour from the chosen tribe.
@@DennisTheMenace-1999 Gods holy people lol so much fraud amongst them
Autistics?
Whoever smelt it dealt it, you know the rules!!
@@DennisTheMenace-1999 he is him bro, and u are not him so that's the diff
His girlfriend and others involved in this scam should also receive a prison sentence - they were not innocent children. Horribly corrupt people - if they can sink so low at such a young age what would they be when they reach their middle age or older when most people are embittered by their life experiences and start questioning the idea of ethics and morals.
What happened to her?
I think it’s the other way around: once people become parents they see the usefulness of moral codes when raising kids.
@@tomasviane3844 They flipped, said oopsies, blamed all on SBF and run away with a slap in the wrist.
check who her father is
Not necessary - Instead i would say toxic parents raise toxic kids. Eg. Narcissist will raise a narcissist etc@@aclark903
Couple of points:
1 - This was not an exchange, we need to understand that
2 - He stole money. Period. And lost it.
3 - where are his co-conspirators, including his parents?
Actions need to have consequences
how do you know he lost it and didnt rat hole it somewhere.
His parents are topical woke. His is the result of woke upbringing.
@@wl2977 stop using buzzwords that have nothing to do with this😂
Agree. He should be LIFE imprison...
why are bob rubin and dick fuld walking around free and many others guilty criminals?!!!
25 years is a lot less than what he should have got
maybe, but 25yrs aint no joke
@@mr_guy661 he will apeal, get it lowered serve haf then,
25 years = life... He got 1 life sentence...
He will be out before 10... They said what, 3 years guaranteed...
@@sunshinechild-sv9kc No he won't, the evidence is overwhelming
@@CrabFilesit's fed charges, there is no good behavior, no 85%, you serve what you get.
He should gotten 25 years for each client that lost millions of money
The stress from financial loss can actually kill people. Also some people can not start their lives over.
What about the ones who aren't millionaires and lost millions but a nest egg?
did not lose millions but lost a nest egg....AGREED! @@Ian-mj4pt
No-one told these people to invest money in these schemes, it's basically the investors GREED THAT COST THEM THEIR NESTEGG 😂😂🎉🎉🎉😂 that will teach them to trust other people with their money.
Agreed, but what people invest in is not necessarily the result in only greed. We all want to feel financially secure and even rich. The people are other things too...gullible, naive, vulnerable, suggestible, delusional, scared of poverty, ignorant to the ways of the world. Government agencies are paid well to protect the public from fraud. They must not be honest or bright. At this time in history crypto is a scam and a house of cards. Everything on the internet is a fraud. AI hype is another fraud. There will be backlash. Better to never have been born. Life is mostly suffering. I agree with David Benatar. @@mukeshjobanputra6721
SBF loses 11bn of crytobros speculative investments = 25 years
Bankers and regulators that cost hardworking taxpayers 500bn in 2007--> 0 convictions
He bought real estate which will still allow him to live in luxury when’s free in his 40´s. This world is a complete joke
His assets will be seized to pay off whom he owes.
I'm sure they will auction it off
He's 32 right now dude. Your not mathing correctly are you now? He'll be in jail his whole 40s and most of his 50s. He'll be out when he is 57yrs old. GG
@@jponz85 If he serves the full 25 years, I have a feeling he won't :/
@@619Vital he will be in a dorm campus for 12 years. total disgrace!
His parents are lawyers. They should all be jailed
HE IS NOT GUILTY HE IS FRAMED
Ok bootlicker @@royg9776
Why? Innocent until proven guilty. His parents may not have been involved.
He also claims to be Republican now.
@@MrMattaiusify They 100% were involved there's emails of his father complaining about not being paid enough for advising his son then he gets millions in real estate transferred under his name. They sacrificed their child to make a quick buck.
if bernie madoff got 150 why only 25 for him.. 😑
The biggest donor ever I believe who gave money to both parties
Bernie madoff stole money off rich people, SBF stole it off poor people and helped run a money laundering operation to politicians and much more, lets not talk about the ridiculoua e jean carol case judge who was also on this case, the west is totally corrupt
@@andrewbowen6875 He gave little to Republicans, almost all to Democrats.
Democrats donor.
Because you truly don't understand what happen.
What a joke he should be in there for life. The amount of people he has harmed is as bad as a murderer, pathetic justice
Tenters and tenterhooks were commonly used from the fourteenth century, both as an important part of the process of weaving woolen fabric. Starting sometime in the eighteenth century, the phrase "on tenterhooks" came to mean "in suspense," the way a piece of cloth is suspended from tenterhooks on a tenter. Not Tender Hooks….
Yes! This journo is trash 🗑
There's people who fraud for less money and get longer sentences😂
it wasnt a legit business to begin with, people who got scammed knew what they were doing was illegal.
@@109sssss thats not true
@@109sssssnot true
Its not all about how much they fraud.
What proof stop talking out your ass
The Federal reserve still holds the award for the biggest financial crimnals of all time .
Yes but let’s not talk about that😅
Yep legalised Criminality enforced by the US forces
Same group
the biggest fraud of modern times
25 years!!! SBF got off lightly, he should have been given 50 years.
Only blacks can get such.. Racisism
Yup, same, need 50 years minimum. 25 years is laughable for this big crime
25 years is not "laughable". That's a long fuckin stretch. Should it be more? sure.. but I would not call 25 years sitting in a cell "LAUGHABLE".
if they said like 13 or something...then ya. @@Hazeman.
Things I learned from this.
1) if I fraud someone I just need to buy stuff for judges and politicians to win them over.
2) transfer titles/gift properties to friends and family.
3) play more league of legends.
4) the only true winners in markets are governments who get tax you when you remove your liquidity from them and the exchange itself.
"life sentence" basically means 25 years. Should have been the 100 years that the court initially sentenced him to.
@@acajoom nothing wrong with getting primitive. I got primitive just the other day on my fax machine
@@acajoomAgreed. 25 years of your life is enough time for most people to change their perspective. If they judge you as likely to reoffend and still a danger to society then they can even keep you in longer. The point of the prison system is to help people change and become productive members of society again, not to drain the state’s resources by incarcerating excessive numbers of people for excessive amounts of time because the public wants ‘revenge’. If they’re worried about hidden assets etc. just fine him more so that he’s forced to tap into whatever reserves he may or may not hold.
@@acajoom Justice is institutionalized revenge, and part of "fix the things" is give to society and victims a feeling of being vindicated, which is often achieved by greater punishments.
@@acajoom Not only to me, but to most people, that's why there are so many justice theories out there, it just happens to be the case that this one (retributivism) is the most popular, not only in this comment section but in the world. But I understand, it doesn't "feel" right to you...
No one ever sentenced him to 100 years.
25 years it's a joke, he should have gotten wwwaaaayyyy more than that..
explain...
@@Acardona97he is a Jew
@@Acardona97He scammed hundreds of millions from hundreds of thousands of people lmao, 50 years minimum
Will be released after 2 years for good behaviour
Life without possibility of parole.
Those guards at the entrance look formidable.
It's tenterhooks, not tenderhooks. Hooks used to stretch and dry cloth
Scam KING, not 'Crypto King'
crypto is scam, so ..
Kind of the same thing though, I saw something like this coming a mile away and I know nothing, I’m just a cook.
same same
@@Woozlewuzzleable I too am just a cool, and just a woozle. And I saw it coming too! :)
@@Woozlewuzzleable obvious really , selling something for nothing someone ends up with nothing , at least i buy fish n chips off you i get summat!
25 years is a joke, and it is the reason why these things happen.
I know, look at what happened with Wall Street even before this. That was even worse but nobody went to jail
How is 25 years of your life spent in a cell is a joke?
ITS NON VIOLENT WHITE COLLAR CRIME 25 YEARS IS WAY TOO STEEP , MOST OF EUROPE 1 TO TO 7 YEARS
Are you a special kind of stupid?
@@zeeeeeezeeeeeeprobably less than half of the 25 years will be served. With good behaviour they could be out way sooner
also with the next halving next month , i feel there are hardly any new retail traders??
25yrs too low it should life sentence
Shkreli got 7 years for 7.4 million dollar fraud and sbf get 25 years for 8 billion dollar fraud. Please explain how that works?
Shkreli was like on the spectrum too, wasnt he?
@@brent4073 every one is on the spectrum today, its a style
He is Jewish. They have racial privileges in the US.
@@brent4073shkreli
@@brent4073 no
In America, punishment really isn't about the crime, it is about how politically connected.
*The world.
dudey donated a massive amount of $$ to dems but what a sh!t insurance policy that turned out to be...even his own rich lawyer parents with high connections couldn't make a deal for him
lol, americians throw life sentences at each other like candy what the hell are you talking about, america has the most of it's citizens in jail off any country in the world, are you blind, death penality while claiming to be christian, i love americans but your not a christnian country anymore, ill pray for you
In a capitalist system, this guy is a saint. It happens sometimes that high priests of capitalists sacrifice one of their own; a way to deceive the masses and keep the religion going.
Yep just look at the 2008 financial crisis!!
25 is too little especially with early release smh
Thank you 😊
Too short. Should have been lifetime imprisonment.
It doesn't even matter. He's obviously gonna be pardoned very soon by Biden since that's where a lot of stolen money went to. Meanwhile, a J6er who wasn't even in the Capitol on January 6 got 22 years in jail. The justice system is forever broken.
There is no way Sam Bankman-Fried will serve 25 years. If he serves 25 years, I will lose my faith in the US justice system. Bankman will be in prison for a few years and then be released on parole with strict conditions. His parole conditions will be as follows: he can work from 9am to 5pm but must return to his home prison after 5pm. He could only have BBQ on weekends and can only leave the USA for vacation twice.
No lol
You smoking crack?
Anti semites, you think we don't notice this?
You'll regret the hate you got for us
he will be released in 10-15y when his stashed money gets him a time reduction and people are no longer watching. Mark my words
Fed time you must do 85% of time before you are considered for early release so he’ll do 21 at minimum.
@@rayy4pres194wrong, not since 2018.
Read about the "First Step Act" which can get you out after 50% of time served 💀😂
Dude literally got 12.5 years and he doesn't even have to pay anyone for it...
You get less for murder in the UK
For people curious why the sentence was short: depositors got all their money back
No i didnt
Not yet....but they might be able to cause of btc price.
@@peterinvestor apologies for using the past tense. Current estate value is > claims value. This is partly because they were able to find a lot of lost funds sitting in random accounts, and part because of e.g. solana prices. It's true the prices could put you back at risk.
If 'depositors' means dfrauded customers, well...No, they didn't. And what was not stolen from them by SBF, is now stolen by FTX new administration that is selling at discounted prices to their friends and clients assets that were never theirs.
(FTX Terms of Service section 8.2.6 “title to your digital assets shall at all times remain with you and shall not transfer to FTX trading.” “None of the digital assets in your account are the property of, or shall or may be loans to, FTX Trading; FTX Trading does not represent or treat Digital Assets in the User’s Accounts as belonging to FTX Trading,” )
dont lie
He still thinks he is going to get away with it. He thinks he will get out jail soon. You can just tell he is privileged.
He will get out soon though. His background and privileges guarantee that.
Because he will. His Democrat friends will make sure of that.
You can pay money to go to a so called "luxury" prison there pretty much like hotels so I high doubt he will so any hard time. Probably just lots of tvs, video games and lots of jerking off.
He shouldn’t be ever allowed to leave prison people lost everything because of this guy
If you are naive enough to change your money for some virtual things then don't be surprised when it turns into a scam.
Dumb people lose money on a shit coins
@@FedorSTR I guess you’re about 60-70 years old moneys always changing from kopper to silver to gold to paper now it’s digital currency wake up to the future
@@FedorSTR just because you don’t understand it doesn’t mean it’s a scam. Are mortgages a scam because of the 2008 credit crunch?
@@FedorSTR You're not all that Swift in this modern area. It's normal, just accept it.
Ouch
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What now will happen to SB-F's parents (both professors) who aided and abetted the thief--and benefitted by having a very nice estate built with their son's ill-gotten wealth? Shouldn't ALL the thieves be charged with crimes?
it's not over.
Parents of the year.
Mother looks like you shouldn't eat an apple she offered you.
they must have gotten their greedy hands of 10's of millions from their patsy son & they are already rich lawyers with high connections & they couldn't make a deal for him? he should have ratted out everybody but no doubt he would then have been found a suicide in a car somewhere
OMG I must watch this now to see her!
How did they work out the losses?
It's not that he just forgot to keep records. He deliberately took a great deal of effort to remove records of communication. It definitely was deliberate.
That’s a light sentence and he will get out early. It will be comical if he appeals and get a longer and stricter sentence. Also, what about his parents?
That's not how an appeal works.
He won't get out early. Federal charges so he'll serve 25, but it is LOWER than the minimum of 30 years = CORRUPTION!
No parole in federal sentences. 25 years is a life sentence for murder in many countries
@@FeverDreamRemixyes it is. There is every chance a judge could impose a longer sentence. That’s exactly how it works
@@FeverDreamRemix Then why has it happened exactly like that in appeals?
So the question to everybody. If you were told: You get 500 Million Dollars, you have to be in a medium security prison for 15 years. Would you do it? Because anybody who thinks the dude doesn't have a giant golden nest egg stashed somewhere is delusional.
Because anyone who disagrees with my delusional and unfounded statement is delusional themselves. Lol. It’s 2024 not 2004 dude, he is bankrupt and the SEC are going to not monitor him after his release. Are you finding it hard to cope when you realise his current predicament?
No. The only thing on my mind afterwards would be the 15 years that I spent in a prison. More importantly, the possibility of being punished even further when I’m released (said he’d be supervised following release) I wouldn’t even be able to enjoy the cash. I’d rather take my chances free
@@XXXTENTAClON227you must not have been on earth long enough to know that they always get out and they always live good after. He has rich friends. They will slide him money publicly and he will slide them Money back. Now he's legit
Maybe 15 months. Prison time is truly miserable, as it is intended to be.
Yikes…500,000,000 is A LOT of money😂
Damn. Thats alot of years
Thank you for this broadcast guys.
25 years is too light for Economic Sabotage
Wow is that light.
SBF had a lot of help from many main stream influential people Kevin oleary was a big influence in the schemes the amount in total is more than 25 billion in losses across many countries majority of are in Asia.
Bro,
There are pics of SBF hanging out with Democrat lawmakers, in their private Chambers, on Capitol Hill..
25 years seems too light of a sentence for what he did and the lives he impacted.
Some of that scam victims committed suicide.
Elizabeth Holmes only got 11.5 years jail and her fraud was a similar scale. With good behaviour she could be out of jail in just over 5 years
Try 25 mins and see how ‘heavy’ it feels
That is nothing.
What about all the criminals in government
His girlfriend, who literally got BILLIONS from him, really threw him under the bus biiiiiiiiiiiiig time... wow....
"forest nymphs" are trecherous when cornered. watch out.
That's how it works. Find a fall guy 😂😂😂😂🎉
In the UK you don't get that for murder.
Nor in the US these days. Shows what they put most value on.
I was thinking that, even before i started reading the comments section.. It's crazy how life works.
Unless you are white.
@@helencheung2537no
He should get 100 years
25 years for billions I think that’s nothing compared to dude out here 20 years for $20 bucks in the arm robbery cases
SBF is immature in a way but knows what he’s doing. He just treated it like high school enthusiast club more than a professional workplace.
If you consider youth a barrier to responsibility then the logical step would be to raise the age for controlling a defined type of business eg finance, like this until an older age. Could still be involved but not on an executive board capacity. This would probably have positioned his parents in the dock on the crime.
How many familys were broke because of him?
None
@joewalker9032 And yet people have committed suicide because of this.
Clearly people have lost a lot because of SBF's greed.
Maybe they shouldn't have been this stupid.
You mean greedy families?
Not like they donated this money
if you invest on crypto you are asking for it. These are not your typical low income individuals, these people have millions stacked on millions, and dropped a couple mil in this guy little scam. Why do murderers get less time than this guy? This is the question you should be asking.. Why are people who tried to overthrow democracy running for president and free as a bird, while some do decades for much less?
Only?
what about WPATH BBC?
Seems overly lenient.
25 years is a life sentence in the UK
25 mins i would be crying let me out lol@@alanarmstrong6460
@@alanarmstrong6460...
@@alanarmstrong6460 He won't serve anything near 25 years though.
@@martinogold at least 80%, one year in jail for him be like hell. Like having all your high school bullies there for him for life
25 years is good,he will be out in 10 years...
Maybe in the UK but not US
Not in the USA it's a federal sentence he has to do 80% or 20 years mandatory
@durkdiggler4346 is any money going to be paid back to the victims?
Not in federal prison. You have to do 85%. There are ways to get an extra 1 or 2 years, but he’ll serve 19 at the very least
@@roystonmarshall5027 they will likely get back the value of their funds at the time of the fraud but that won't help them on their opportunity cost loses of bitcoins 300% rise. Essentially he stole billions in potential gains from many victims.
How does the jail sentence reduction work?!
only?
Confiscate what he has....and refund the victims
He also was ordered to pay 11 billion so yeah they took it all
less than pennies on the dollar
Far too lenient.
Initially it had the appearance that he was gonna be protected but sanity prevails
'Tenter" hooks... not 'Tender'
lol exactly. i would imagine a BBC reporter would know the difference.
haha you beat me to it
some people have learned the sound and not the word/phrase. I often hear references to a drink called an expresso. I know of espressos but not this other drink😂
@@edittide9842 May I axe you a question?
@@johnc2438 ugh, I live in Windsor ON, 5 mins across the border from Detroit, I hear that shit all the time. =(
25 years for all he's done, is not nearly enough. This guy will be pampered behind bars as he always has been. His mommy and daddy will see to it.
It doesn't work like that in the USA. It's not the 3rd or developing world.
He's 32 an doubt very much he will do more than 15 of the 25yrs he got so he will only be in his late 40s which is not exactly old, so much for justice.
Should be 50 years.
Beautiful
“losses of $11 billion - this is how he calculated his decision”. 😅 Good to know if I ever want to commit fraud myself; about 1 yr for every $0.5 billion isn’t too bad.
lesson to all thieves .... go big or stay at home, joke of a justice system
Thats wild….
He should do 50 Years
What even is the point in jailing him though? All the money he stole is either “missing” or pocketed by the government. The people aren’t getting justice.
Than you try to deliver as much justice you can, should they let him go?
What is the point in jailing him😂 eh punishment. Not the sharpest are you
@@Neckoya jail is not about punishment it’s about keeping society safe, he’s not a danger to anyone so just compensate the victims and give him conditional house arrest. Only justice would be to give the money back
Not long enough for me
special treatment for a special person
He will be released next year for "good behavior".
I hope he and his family have to pay back those who lost due to this fraud.
ONLY 25 YEARS? WHAT A JOKE.
Richprivilege
$100,000 to take a picture with Joey! Talk about theft!😂
You get less for murder. Why does fraud/burglary seem to carry heftier sentences than taking a life?
Only 25 years… I am beginning to hate the justice system.
🤔🤔 I think he had the time of his life taking everyone for a ride, on their dime, making them look so stupid! He’ll still be a fairly young man, especially since he won’t do a full 25 years, so maybe it WAS WORTH IT!! You only live once!! And BOY! Has he lived!
25 years is not a light sentence. Elizabeth Holmes committed a similar sized fraud and she only got 11.5 years. With good behaviour she could be out in a little over 5 years. That's a light sentence. Not sure if the justice system goes easier on women?
They should give him life without possibility of parole
Yes she did actually say tender hooks.
No
25 years for scamming people but 6 months if you murder someone 🤣🤣🤣
I mean, compared to the money he would make from a normal job for 25 years and the amount of money he stashed and hid somewhere is still substantial and be more than enough sum for a lushy and luxurious lifestyle after he serve his sentence in his 50s or 60s.
Punishment is not severe enough imo.
That's assuming he'll get out of prison alive. And what's the point of having a big sum of money, if you spend 25 years in prison, what's a use of that money during those 25 years? I receive only a regular monthly salary, but I'm sure at this stage my life is much healthier/happier/mentally "richer" than his.
@@0114mercury you could work the 25 years and the government take most of it.
why wouldnt he make it out a live?
hell live a good end of life thats for sure
@@0114mercury yeah, being in jail is not good generally, but anyway, it just irks me to think about that when he gets out of jail (assuming he makes out alive as you said) he'll still have this vast amount of wealth he tucked away waiting for him.
Like Imagine your parents or you working yall butts off until retirement and this numpty of a scammer would still have x100 amount of money for the rest of their retired lives.
in 5 years he will be out an about for good behavior.. 125year should be at minimum
But we don't live to 125 😂😂
he has to serve 80% minimum
he'll do 20 without parole
Now go after the parents
What about Caroline? She knew what was going on! They all should be jailed
Too short
He stole from the wrong investors. Busted!
It’s all show. He will be out soon paid Biden
what about Caroline ?
She now has an "OnlyFans" account if you're into that kink.
How many times this situation keeps repeating itself. The motivation is greed not only by SBF himself but also those who placed their blind trust in him and the illusion of quick richness in a groundless scheme.
how come they couldnt put cameras in court for this scam but could for trump?
A younger version of Bernie Madoff,both American Jews
goebbels warned of them in his speech how they run new york
25 years Only? Wtf
The rich and politically connected always get treated differently.
His parents should also be put on trial.
"In the Corporate World, there are only Criminals. Some get caught, while most escape."
"tender hooks" ? boring