Sam Bankman-Fried -- founder of crypto trading platform FTX, the privileged son of Stanford law professors, political donor/grifter, and billion dollar scam artist -- is appearing before Judge Lewis Kaplan today in the SDNY to learn his fate.

In November SBF was found guilty of seven counts involving wire fraud and various conspiracy schemes following the disappearance of approximately $10 billion in customer deposits.

He will be sentenced by Judge Lewis Kaplan, same no-nonsense judge who oversaw the E Jean Carroll suit against Trump. Before trial, Kaplan revoked SBF's bond and ordered him into custody after a series of failures to comply with bond conditions including providing the NYT with the private diary of a key co-conspirator (and former girlfriend) who testified for the US in his case.

SBF's attorneys argued in a pre-sentencing memorandum that he deserves a light sentence based on his philanthropy and confidence that most of the stolen funds would be paid back. Multiple current Stanford law professors wrote disgusting letters of support on his behalf.

Judge Kaplan has already ruled today that he believed SBF lied on the witness stand, committed witness tampering, and rejected the entirety of the defense's "no real loss" argument and increased the sentencing guidelines and now faces a maximum of 110 years.

US wants 40-50 years. Defense asking for 5-6 years. The presentencing report prepared by the probation department recommended 100 years.

https://www.cnbc.com/2024/03/28/live-updates-ftx-founder-sam-bankman-fried-sentencing.html

Fifty years sounds about right to me.

How about a fine of 4820 Bitcoin?

He'll get much closer to 5 than he will to 50 and probably serve closer to 1.

I'm following the live reports -- Kaplan is not a fan of this guy. He's going to get something with the range of what the US is asking for if not more, IMO.

Cell mates?

I wonder how things are at federal minimum security prison in Bryan.

BQ78 said:

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He'll get much closer to 5 than he will to 50 and probably serve closer to 1.

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Well since his bond was revoked and he has been actually locked up for about 4 months I am going to guess he gets off with "time served".

But, that is assuming that a good proportion of the missing $10B made it into the DNC Coffers.

Article from Time listed him only behind Soros in the 2022 election cycle for campaign donations at about $70M

https://nypost.com/2024/03/28/us-news/sam-bankman-fried-faces-decades-in-prison-as-hes-sentenced-today-for-multi-billion-dollar-fraud/

At least he will have the next 21.5 years at a minimum to think over what he did wrong.

Color me surprised. Maybe Biden will pardon him on his way out in 2025 Inshallah (that is for "on his way out," not a pardon)

With >10 year sentence, he'll be doing time in a legit prison and not club fed in Bryan like Elizabeth Holmes.

BQ78 said:

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He'll get much closer to 5 than he will to 50 and probably serve closer to 1.

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Oops

Let the butthole stretching exercises commence!

He cannot go to a minimum camp unless they bend the rules for him (it's really up to the BOP) but he'll be classified as low.

January of 2025 is less than a year.

jt2hunt said:

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BQ78 said:

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He'll get much closer to 5 than he will to 50 and probably serve closer to 1.

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Oops

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He DID get closer to 5 than 50 though.

gotta be honest...I'm surprised he got 25 years

a check minus for his attorneys

themissinglink said:

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With >10 year sentence, he'll be doing time in a legit prison and not club fed in Bryan like Elizabeth Holmes.

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Ghislaine Maxwell is now at a Club Fed in Florida. Wasn't her sentence more than ten years?

She's at FCI Tallahassee, which is a low security prison. It's a step up in security from FPC Bryan -- a minimum security camp.

Is he going to a federal pound me in the ass prison? Dough boy is going to struggle.

His parents were involved in the businesses and should be in prison too.

Levels of security in the federal prison system:

• Minimum - Dormitory setting, minimal fencing, mostly free movement. Lowest risk and non-violent offenders. No sex offenders, no active gang members, or sentences >10 years without special permission.
• Low - Some dorm settings, some group cells depending on facility. More fencing. Low risk and non-violent offenders. Generally safe with minimal gang activity. Communal bathrooms with private showers.
• Medium - More fencing, more controlled movement, more staff, a lot of violence, small cells. Toilets are in cells. Cells locked at night and at times during the day. A lot of gang activity.

• High - Inmates with history of violence and extensive gang activity. Locked down frequently.
• AdMax - Worst of the worst. 23 hour lockdown. (SuperMax)

His white collar non-violent crimes are not guaranteed to land him in a low security prison.

Robert Stanford ran a $7 billion Ponzi scheme. He was sentenced to 110 years and is serving at a high-security USP.

Tom Petters is at Leavenworth after being sentenced for a $2 billion Ponzi scheme.

Madoff was in a medium.

Aged like milk.

Am I the only one who thinks 25 years is really light? Madoff got 150 years. I guess it really is (D)ifferent.

I think the judge cut him a break because of his young age and autism diagnosis. Given the judge stated on record he believed he committed witness tampering and perjury, I'm thinking it is less likely the BOP will give him a "Low" status. Medium-security prison will eat him up and I'm not sure he will survive it.

Good behavior reduces time by a third and then early release…..
Such bs

AtticusMatlock said:

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I think the judge cut him a break because of his young age and autism diagnosis. Given the judge stated on record he believed he committed witness tampering and perjury, I'm thinking it is less likely the BOP will give him a "Low" status. Medium-security prison will eat him up and I'm not sure he will survive it.

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BOP will do what Garland tells them to do.