121
In the end, the FTX trial was about the friends screwed along the way (www.theverge.com)
submitted 2 years ago by L4s@lemmy.world to c/technology@lemmy.world
17 comments fedilink hide all child comments

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.

all 19 comments
sorted by: hot top controversial new old
[-] gregorum@lemm.ee 24 points 2 years ago* (last edited 2 years 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.ml 6 points 2 years 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.works 3 points 2 years ago

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

[-] stolid_agnostic@lemmy.ml 2 points 2 years ago

Or if you are Bezos and you get rich through the abuse of workers, that's fine too.

[-] andros_rex@lemmy.world 15 points 2 years 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.ml 4 points 2 years ago

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

[-] cheese_greater@lemmy.world 0 points 2 years ago* (last edited 2 years 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'

[-] stolid_agnostic@lemmy.ml 1 points 2 years ago

I didn't go there, I just assumed endless entitlement and never having to face consequences.

[-] cheese_greater@lemmy.world 2 points 2 years ago

Thats arguably even far more "intoxicating" but I def don't agree it deserves the "Affluenza Defense", hell, I don't even think the "Affluenza Defense" deserves the "Affluenza Defense"

[-] stolid_agnostic@lemmy.ml 3 points 2 years ago

That was class warfare. The judge was looking out for his own kind. Same with the Stanford rape case a few years back.

[-] cheese_greater@lemmy.world 1 points 2 years ago

I just don't get how it survives appeal if there's even appeal at all

[-] cheese_greater@lemmy.world 4 points 2 years ago

Re:title [Chef's kiss]

[-] autotldr@lemmings.world 4 points 2 years 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!

[-] ThrowawayPermanente@sh.itjust.works 2 points 2 years ago

I kind of feel bad for the rest of them, not Sam

[-] stolid_agnostic@lemmy.ml 5 points 2 years 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.

[-] Coreidan@lemmy.world 1 points 2 years ago

All that money and you decide to be ugly as fuck.

[-] cheese_greater@lemmy.world 1 points 2 years ago* (last edited 2 years 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

this post was submitted on 27 Oct 2023
121 points (94.8% liked)

Technology

73234 readers
1082 users here now

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related news or articles.
  3. Be excellent to each other!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, this includes using AI responses and summaries. To ask if your bot can be added please contact a mod.
  9. Check for duplicates before posting, duplicates may be removed
  10. Accounts 7 days and younger will have their posts automatically removed.

Approved Bots

founded 2 years ago
MODERATORS
L3s@lemmy.world
enu@lemmy.world
technopagan@lemmy.world
L4s@lemmy.world
L3s@hackingne.ws
L4s@hackingne.ws