evilweasel posted:

ugh he's getting less than 50 years

Eeyo posted:

what's your bets for sbf's sentence? i'm going with 25 years

fins posted:

lmao, the pseudo by counsel.

evilweasel posted:

so in practice, not really

what you do is you take the pile of claims forms, stack them incredibly high, sky-high. you then have someone enter their identifying information into a database along with the amount of money they claimed.

you then compare that database to ftx's internal database, which you've already used to multiply the assets by the prices fixed by the bankruptcy court (they got this order already) to arrive at a fixed value. in reality, this internal database is what people are going to get and you don't care what they claimed. it's just a matter of going through the appropriate legal hoops to modify their claims.

you then just file endless omnibus objections saying "person X claimed $500k, our books and records say $3.41, allow their claim at $3.41" with like 200 claims per objection (exact amount depends on the tolerance of the judge). you never actually bother to read the claim forms, aside from the grunt labor who typed the information into the database. if someone responds to the objection, you might bother to read the claim form if their response raises any sort of real issue, otherwise you just file an omnibus response saying "fifty people responded saying various things you've already ruled on, overrule those objections"

the problem comes in just churning through tens of thousands of claims, dealing with the responses, and certainly some of the nutters will file appeals

Mr. Nice! posted:

i don't think it's disingenuous. they have an insane amount of claims, and people are valuing them based upon crypto's rise.

say i got $250m worth of bitcoin when it was $20k/coin on ftx. bitcoin is now $71k. my $250m in bitcoin should be worth $12,500,000,000,000.

you then add in all the people that had however much of whatever shitcoin that has also risen in value with bitcoin and it adds up to an insane amount of money.

ray has to go through and figure out what the actual cash value of these accounts were when the company filed bankruptcy and pay them that. this is a monumental task especially because everyone thinks they're entitled to so much more than they are.

Archduke Frantz Fanon posted:

FMguru posted:

sam is 32 years old so he will be getting out when he is 57 (feds dont really do parole or take off much time for good behavior)

57 years old, no wife, no kids, parents likely dead, friends all moved on, no up-to-date job skills, the physical health of someone who has been breathing prison air and eating prison food for 25 years - he deserved a much harsher sentence but thats a pretty solid punishment for a soft child of privilege

FMguru posted:

sam is 32 years old so he will be getting out when he is 57 (feds dont really do parole or take off much time for good behavior)

57 years old, no wife, no kids, parents likely dead, friends all moved on, no up-to-date job skills, the physical health of someone who has been breathing prison air and eating prison food for 25 years - he deserved a much harsher sentence but thats a pretty solid punishment for a soft child of privilege

FMguru posted:

are there any other criminal prosecutions cued up for sam? maybe state level?

knox_harrington posted:

he also got an $11b forfeiture so I guess that means no money for him in perpetuity?

evilweasel posted:

wouldn't be surprised if a few states are rushing to figure out if they can bring charges

The_Franz posted:

curious to see what happens to caroline ellison now. her plea deal protected her from being charged with any additional crimes that came up while prosecuting sbf, but she didn't get full immunity in exchange for her testimony either

whatever it is, it will be significantly less than sbf though

Beeftweeter posted:

i would think any that might even remotely fit the possibility have already investigated the possibility and calculated that the federal charges were stiff enough, although they're probably just as let down by the sentence as most of us

Beeftweeter posted:

i would think any that might even remotely fit the possibility have already investigated the possibility and calculated that the federal charges were stiff enough, although they're probably just as let down by the sentence as most of us

i mean, who else could go after him?

i suppose NY, CA, MA, NJ, CT... idk offhand which other/how many states actually have crypto regs, but either way i'd guess they'd go by number of victims impacted. so that would probably skew towards the larger, wealthier states, but only ones with actual regulations/enforcement. so that leaves out FL and TX at least, which is kind of a lot of people to exclude

Agile Vector posted:

did this trial include sbf's straw donor stuff? i lost track of what was in it and genuinely can't remember how many of his crimes were weighed here

evilweasel posted:

basically every state AG has designs on future political office, and there's going to be a constituency for Greater Punishment for SBF and very little constituency for Poor SBF Be Nice To Him

Beeftweeter posted:

no, those charges were going to be brought separately. iirc they were dropped when sam put up far less of an effective defense than anticipated, but that doesn't mean they can't be brought again

Beeftweeter posted:

i thought he was charged in a superseding indictment with witness tampering too though. so that would make it a core question?

FMguru posted:

sam is 32 years old so he will be getting out when he is 57 (feds dont really do parole or take off much time for good behavior)

57 years old, no wife, no kids, parents likely dead, friends all moved on, no up-to-date job skills, the physical health of someone who has been breathing prison air and eating prison food for 25 years - he deserved a much harsher sentence but thats a pretty solid punishment for a soft child of privilege

Beeftweeter posted:

yeah i know, i meant, like, which states could actually go after him, assuming they even wanted to? they would need some specific regulations on the books and iirc less than half of states have any regarding crypto specifically, but i could be misremembering

to rephrase, with political considerations in mind i would assume there's some reason general financial fraud statutes don't apply, at least fully. but as you know those can vary wildly from state to state

evilweasel posted:

basically every state AG has designs on future political office, and there's going to be a constituency for Greater Punishment for SBF and very little constituency for Poor SBF Be Nice To Him

Potato Salad posted:

superceding charges were never tried, he got enough charges from the first trial that they didn't bother with the later ones

this whole thing was messy, lotsa crimes

Paladinus posted:

He'll be out in 5 years. And he will kill again.

Paladinus posted:

He'll be out in 5 years. And he will kill again.