Everyone who loved Sam Bankman-Fried most in the world is now caught up in the case.

In the end, the FTX trial was about the friends screwed along the way::As the prosecution has made its case against Sam Bankman-Fried, a simultaneous drama of ruined lives is playing out. Everyone who was close to Bankman-Fried is also exposed.

  • gregorum@lemm.eeEnglish
    24·
    8 months ago

    And those same friends of Bankman-Fraud are screwing him back on the flip in court.

    This guy was Trump levels of dumb with his crimes and didn’t even have the army of sycophants and mob lawyers for him to throw under the bus. Plus: he stole money from rich people— the worst of crimes!

    • stolid_agnostic@lemmy.mlEnglish
      6·
      8 months ago

      When it affects average people, the wheels of justice are slow. When it affects the wealthy, suddenly there is attention. This is pretty much what happened with Bernie Madoff. He was running his scheme for years and nobody blinked until some billionaires lost money.

      • Boozilla@sh.itjust.worksEnglish
        3·
        8 months ago

        Yup. Elizabeth Holmes and Sunny Balwani, same thing. If they’d only endangered patients, they’d have gotten away with it.

  • andros_rex@lemmy.worldEnglish
    15·
    8 months ago

    It’s weird how the media insists on describing a 30 year old man who committed defrauded folks of millions of dollars like he’s a teenager. Like this was just a group of teenagers who didn’t really understand what they were doing until things got out of hand.

    • stolid_agnostic@lemmy.mlEnglish
      51·
      8 months ago

      I’m actually ok with this character assassination. He’s clearly not a person who ever really grew or matured.

      • cheese_greater@lemmy.worldEnglish
        11·
        8 months ago

        I wonder how long he’s been on Adderall/diagnosis date? This is the methiest situation I’ve ever heard and yes, I know, meth != mixed amphetamine salts (amphetamine/dextroamphetamine), but I challenge the disagreeer to fight me cuz I’m winning that fight every single time.

        Also, I’m not really touching on the culpabillity part with respect to the “methy” nature of the situation other than to say literally nobody else who’s not white and rich and so well-pedigreed/messy-haired would receive this treatment, except maybe Trump. SBF should have been in jail immediately, he’s not innocent or inept, he’s entitled and well-resourced and internet/computer “savvy” and doesn’t give a fuck about anybody else.

        Convicted man (not boy child) walkin’

  • AutoTL;DR@lemmings.worldBEnglish
    4·
    8 months ago

    This is the best summary I could come up with:

    Of course everyone who had money trapped on the FTX exchange when it collapsed — as the result of Bankman-Fried’s trading firm Alameda Research purloining its customers’ funds — had their lives altered.

    All the co-conspirators seem oddly younger than their years, as though they got stuck in the “math camp forever” environment Bankman-Fried created for them and simply failed to grow up.

    The prosecution has made a strong case that Bankman-Fried presided over the various forms of fraud that played out at Alameda Research and FTX, orchestrating some of it and engaging in some of it directly.

    During Yedidia’s testimony, we were shown a photograph in court: former President Bill Clinton and former Prime Minister Tony Blair onstage in suits next to Bankman-Fried, in a rumpled T-shirt and cargo shorts.

    Wang testified that he heard Bankman-Fried tell another trader that it was okay to continue withdrawing money from the account as long as the amount was less than FTX’s total trading revenue.

    Ellison testified to something similar, choking back tears: “When I started working at Alameda, I don’t think I would have believed you if you told me I would be sending false balance sheets to our lenders or taking customer money, but over time, it was something I became more comfortable with.”

    The original article contains 1,688 words, the summary contains 213 words. Saved 87%. I’m a bot and I’m open source!

    • stolid_agnostic@lemmy.mlEnglish
      5·
      8 months ago

      I mean they still did the bad things even though they knew they were bad. They just didn’t know how bad the whole thing was.

    • cheese_greater@lemmy.worldEnglish
      1·
      8 months ago

      I mean, can’t have the nerds risin’ up and getting 2 uppity

      Edit: their lack of looks makes me trust them more. I distrust overly beautiful or contrived folks