Bankman-Fried sentenced to 25 years for multi-billion dollar FTX fraud

Flying Squid@lemmy.world to News@lemmy.world – 229 points –
reuters.com
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Not to start whataboutism but is it not strange that he gets 25 years (I mean punishment deserved to be clear) but the biggest con artist in modern history is still on free foot ? Even though you maybe cannot compare it (I mean selling top secret stuff is not that harmful /s) it's a bit of double standards

SBF fucked with rich people's money.

Trump fucks with poor people's money.

That's the difference.

I don't know about that. He has a lot of rich donors giving him money. If he doesn't return on their investment, he is going to be in trouble.

No, you misunderstand. SBF took rich people's money and gave them nothing in return. Rich people are giving Trump money because they expect to be rewarded in the form of even less taxes, regulations, and more corrupt judicial appointments.

In other words, SBF stole from the oligarchs, but Trump is an investment (that has paid off once already).

Right, but will he give them that return this time? That's where he might be fucked. If he loses.

Sure but they know there's a chance he'll lose before they donate and while people investing in crypto also know there's a risk that risk is a lot different. It'd be more like if trump took the money and didn't even run for the presidency.

Exactly. It's why the rich all love gambling- when you have enough money to afford any experience you want, the only thing that brings you a thrill is the threat of losing that money.

Listen to the episode of Behind the Bastards about Lord Aspinall where Robert Evans goes into more detail about the rich's addiction to gambling.

A lot of those people are not expecting payback in the form of a direct check.

No, they expect him to pay them back with presidential power. And if he doesn't get that, they're going to come calling.

I imagine that a lot of these folks are also happy to pay for his influence over the Republican Party. And he doesn’t need to be in office to do that.

Absolutely right. Different rules for Trump every single fucking time.

But is Trump really a bigger con man than SBF though? Sam was playing around numbers that Trump can only dream of. On the other hand Trump has run (and imploded) way more cons than SBF, so I guess it's a question of quality over quantity.

Bankman-Fried pulled a Bernie Madoff/Elizabeth Holmes, by screwing with wealthy people's money.

Yep. It's one of the only ways someone like him actually gets a real prison sentence.

Meanwhile all the January 6th traitors who tried to overthrow the government's sentences tend to be measured in months.

Agreed, sorry made a similar statement, but didn't see your comment yet.

SBF should’ve just run for President. Clearly he’s an amateur grifter.

In 25 years.

"You think I was a POS then, just wait til you see what I learned in prison!"

Still can! Apparently you can be president from jail according to some.

Edit: In fact according to some, it would be dumb NOT to run for President, because if he wins he can just pardon himself.

Am I the only one amused that this guys name is Bankman?

Would've been an even more amusing play on words if he got the electric chair (but then again, maybe pun-based justice isn't something we should strive for)