Sam Bankman-Fried found guilty in FTX crypto fraud case

A jury Thursday night found FTX founder Sam Bankman-Fried guilty on all seven counts of fraud, conspiracy and money laundering following more than two weeks of testimony in one of the highest-profile financial crime cases in years. CBS News legal analyst Rikki Klieman and national correspondent Errol Barnett have more.
#news #sbf #ftx
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[@josephtalmadge3108]

The fact that anyone thought this dude was innocent is absolutely hilarious 😂😂😂

[@cw5962]

Ya but if the plea doesn’t make sense it’s 100% worth a shot in trial

[@eco-eta]

Innocent until proven guilty. This dude should and will be in prison, but everyone deserves a fair trial

[@phoenixvette]

The fact that anyone one trusted him from the beginning is hilarious. If it’s logo is on a sports stadium, it’s a scam. If the guy doesn’t have a comb, he’s a scam.

[@treadhead]

HOW MANY POLITICAL FIGURES BENEFITED IN THE PAST ---- ANY POLITICAL PARTIES ??

[@aarondanforth2232]

I hope He gets more then 2 years......

[@wgjung1]

Fun fact: his parents teach financial ethics at Stanford.

[@johnhmielewski1230]

And not an empty seat in the room 😂

[@wlhansen2068]

Wow.Just wow.

[@Ultizer]

their tribe is pretty shifty after all.

[@rubendehul]

Go deeper in the Rabbit Hole and you will find strange truths

[@lookissjaxin]

😂.

[@mikenonhuman1335]

Shout out to the jury

[@jonr1138]

Scam Bankrupt-Fraud.

[@questionreality6003]

my opining: shout out to the prosecutors you mean, was simple fraud and they made sure the jury understood that

[@AllIDoIsNguyenTX]

@@questionreality6003 The prosecutors did a great job, but you have to give credit to the jury, too. They only needed 4 hours to come up with their verdict, and that's impressive. I'm glad they didn't waste any time!

[@PeacockRhino]

The evidence was overwhelming

[@francoputin5785]

I’m glad this guy got his justice. This case made me sick. He ruined other people’s life savings. And now we have a major precedent for anti-fraud in crypto.

[@elmSTREETnasty]

But what will happen to all the US politicians who were getting kickbacks from him?

[@johnfetter]

@@elmSTREETnasty Lock up the Democrat CROOK!

[@mattmaas5790]

​@johnfetter dems are in favor of anti-scam regulations though.

[@Cryptech1010]

​@@johnfetterhe was donating just as much to republicans

[@johnfetter]

@@Cryptech1010 From what i have read the news say's he donated primarily to Democrat's so more to Democrat's.Lock the crook up.

[@AllIDoIsNguyenTX]

His parents should be in prison too.

[@MrBubba311]

They will be using their funds to fight the civil lawsuit seeking to claw back dollars they received. Their other son Gabriel is also charged in that lawsuit.

[@bugtesties]

100% they were advising him along the way and benefited from it as well

[@itzhakbentov6572]

His mother must be a very special Ethics Professor

[@axe863]

When youre so entangled with the govt and allegedly doing money laundering, you get a slap on the wrist.

[@PavelKrupets]

and you too

[@llenhu7537]

He learned from the best- both his parents are fraudsters

[@nevets2371]

But obviously not the best ones

[@kathylaroe6023]

No, but obviously better than him because they haven't been caught 😂😂

[@treadhead]

BIRDS OF THE SAME. FEATHER FLOCK TOGETHER.

[@Ihaveanamenowtaken]

​@@kathylaroe6023In fact, they're being sued rn. Looks like they all will be in prison next year.

[@suzbone]

​@@Ihaveanamenowtakenthat would be refreshing AF

[@gotyesomeonyouusetoknow]

Now all the politicians that received all those donations should give back that money.

[@axe863]

LOL. Governments have killed over 100 million people last century. You think theyll give back the money.

[@sarahkim2545]

With the 2024 election on the way, I'm sure they have already obligated the funds for their campaigns.

[@donsims1941]

They were SOCIALIST DEMOCRATS good luck with that. The media and corrupt weaponized government agencies protect them.

[@doclime4792]

And the "charities" and "academics" God our society is corrupt to its core

[@PavelKrupets]

for them to return money they must be in on a scheme and must be first tried.

[@itzhakbentov6572]

His Ethics Professor mother, should also go to jail

[@StevenEvens7125]

Mom's is a cutie tho

[@elenatramsti5176]

YES!!!!

[@kokits]

@@StevenEvens7125i hope this message made her day :)

[@srper2]

Bwaha ha....."ethics" professor......what a woman....

[@Unknown-account3]

Both of his parents have their greedy little paws in this mess, they must be next in prosecution

[@oneinceptions]

dang lol

[@fransiscoscaramanga674]

what about his parents? they were in on it!!!

[@PavelKrupets]

you were on it too

[@user-lt6gh7eL27]

@@PavelKrupets 👀

[@fransiscoscaramanga674]

@@PavelKrupets and so was yo momma

[@PavelKrupets]

@@fransiscoscaramanga674 yeh based on you logic where you can point fingers. instead of innocent until proven guilty.

[@JCChavz]

Your reporter here was outstanding. Absolutely incredible in his delivery. You should give him a raise.

[@wildgardens]

Totally agree, I thought the same thing!

[@xl000]

he is already being paid for his job It's like tipping a waitress

[@YourXellency]

McDonald's workers in Japan prepare and package their food better than McD's in other countries. They ALL need raises!

[@mikenonhuman1335]

This is how you show other scammers that this will not be tolerated. Good job

[@Krranski]

There are like 100 scammers (and far more accomplices) that get away with it to every one scammer that actually gets meaningfully punished. This dude just got caught taking too much and from the wrong people and he was able to be captured.

[@compositeur8455]

@@Krranski He's by far the biggest one, The Celcius CEO also got arrested

[@Krranski]

@@compositeur8455 I agree, he is one of the biggest out there. It's a reason he got caught. The biggest nail for the hammer to hit, and all that.

[@mikenonhuman1335]

@@compositeur8455 💯. I hope the message trickles down

[@ElaraNightsky]

I wonder if Sam's parents ever shed a tear for the hundreds of thousands of families whose entire life savings got stolen away🙄🙄

[@Joe333Smith]

That's a TOTAL lie. Customers are getting 90% of their deposits back. Also, if you chose to put your life savings in crypto, you deserve to lose it anyway.

[@danasmith858]

They taught him

[@donsims1941]

​@@Joe333Smith🤭 corrupt socialist Demoncrats just lost their largest donor 🤭😂😂😂

[@cdes68]

The GOP is all over it@@donsims1941

[@0ddsman]

@@donsims1941 I'm told SBF was the #2 Democrat Party donor behind Soros...Both his parents also belong in a cage BTW.

[@gbb82]

How do you go from graduating from MIT to possibly spending the rest of your life in prison?

[@nevets2371]

White collar crime

[@locnott2]

Greed

[@cantgetright742]

This way

[@metalgirl]

Bad people can go to college….

[@gbb82]

@@cantgetright742 LOL, okay

[@grantgoldberg1663]

The only person in America that thought Sam Bankman-Fried had a chance at an acquittal was Sam Bankman-Fried.

[@OfflineSetup]

“Ricky, you are the ONLY person I want to talk to about news like this! And now we go to Errol” . There was sadness in Errol’s eyes.

[@TGreen89]

😂

[@pattyschwartz5636]

What about giving the money back to people that lost all their money ?

[@PVT_Dinlkeburg]

They’d never do that, they’ll confiscate the money quietly though

[@secondarycontainment4727]

Just made the same comment. But the Democrats he funded should be forced to pay.

[@by1310]

Too much money was already spent. Millions and millions and millions spent on trips and partying and giving it away to terrorists in the DNC. And his parents helped him

[@Joe333Smith]

They're getting around 90% of their money back through the bankruptcy

[@jessejames8900]

They would give it to Ukraine and Israel.

[@thegodofcycle216]

He guaranteed a conviction with all the interviews he did after the collapse of FTX. This is why any lawyer worth a damn will tell you to keep your mouth shut. You do not help the prosecution build their case against you.

[@someonesomewheresometime3897]

And its highly likely his lawyers told him to shut up, and also, to plead guilty and start cooperating with the government asap. But, in a shocking display of arrogance and stupidity, this guy did neither of those and went to a trial where he had zero chance and got shredded in cross examination. I dunno this guy seems kinda delusional to me...

[@GenerationTech]

They made him so gaunt in the court drawing 😂

[@jessejames8900]

Cartoonists.

[@micahgelfand8282]

😂😂😂😂

[@MKZ3003]

YOO MY FAVE STARWARS CHANNEL

[@johnwhodat8135]

😂

[@MKZ3003]

YOO MY FAVE STARWARS CHANNEL

[@BmcC102]

I can’t love this enough.

[@4rebecca]

this is the best summary i've heard of the case.

[@KathleenMcCormickLCSWMPH]

He requires a Madoff type sentence. Life anyone?

[@questionreality6003]

80 years no parole possible.,,, jewish madoff made off with more, is why Denny gave him 150 years

[@lebumjames1373]

@@questionreality6003he's not gonna get that sentence lol. madoff defrauded wealthy investors, sam defrauded mostly average people.

[@seanfarias3499]

Life with no parole is the only fair sentence

[@darkinetix]

I think his parents are going to live with the guilt throughout his entire sentence. Because ultimately they groomed him and oversaw all of this happening. They are all very smart people, but greed can make the most intelligent of us do crazy things…. crazy stupid things

[@elenatramsti5176]

I don't know that his parents are very smart people. They bear a lot of guilt for what happened and were a horrible influence on him. His parents and their social and political bubble are very sick and destructive people who probably feel zero remorse. They can rot for all I care.

[@srper2]

Hopefully they will also go to trial and then prison too.

[@darkinetix]

@@elenatramsti5176 I said very smart people because it’s clear they knew what they were doing, that’s different from being very wise or good people, which they are not.

[@cadcad-jm3pf]

In all probability he has enough money stashed somewhere to last for generations, so I wouldn't worry about his parents - they will live in the Bahamas or elsewhere in absolute luxury.

[@HeatherHolt]

Coffeezilla is sipping a cuppa right about now ☕️

[@RC-gf8cs]

Lock him up .but get the.. " others"

[@tomproctor.archive]

Rikki made a good assessment.

[@brianjanson3498]

Fine group of reporters here. Well done.

[@SMELLY_CHEESE98]

100+ years… WOW SUCKS TO BE HIM. I BET YOU HE’LL THINK ABOUT WHAT HE DID WHILE HE’S DOING ALL THAT TIME

[@jessejames8900]

100 days then parole on good behavior.

[@user-ep1ty1if1q]

Hahahhahahaa yeah right

[@SMELLY_CHEESE98]

@@jessejames8900 YEP… THAT’S PROBABLY GOING TO HAPPEN. PEOPLE WITH $$$$. GET OUT OF DOING A lot OF TIME.

[@douglubzinski571]

Entitled people don’t understand right from wrong. Sbf believes his own nonsense.

[@SMELLY_CHEESE98]

@@douglubzinski571 OF COURSE

[@ZedAlfa.]

His parents should have been indicted too.

[@bk-pk4wv]

Whoever draws them pictures is a beast. Always doing great work.

[@MilkyWayGalaxyy]

The guilty verdict doesnt mean much. The question is, how many years will he realistically spend in prison???

[@14rs2]

Surprised it took the jury so long to give the verdict

[@lianel2401]

It was only 4-1/2 hours to deliberate each one of the many counts. The male host said it took almost a day but that's simply not true as others reports have said 4-1/2 hours.

[@Dgafsranger]

​@@lianel2401and those reports are more accurate than his report? 😂 Please tell me how you measured the accuracy in this specific case I'm not saying this one is right but it's funny you believe others but not one how do you know they didn't get bad information and his is accurate? Or the other way around or both can be wrong 😂

[@ladyeowyn42]

Tiff Fong was told by court officers that there wouldn’t be a verdict today but the jury came back so fast that she and others couldn’t get back in time despite being nearby. She said it was less than 5 hours and I believe her, her reporting has been flawless.

[@borgsimpson935]

General Population No leniency

[@yannip2083]

They should prosecute his fraudster parents too and this trio should be in jail for life!

[@lancekidwell5729]

Tell the DNC to give back the money.,

[@VoidVerses]

Aleluya, justice for once in America!!

[@romulus_]

he broke rule #1: never rip off the rich.

[@theeoarsman921]

Sam should get the Salad Man for a cell mate!!!😀

[@elhefe6029]

He gonna get the salad tossing special ya dig lmfao

[@F3RACTION]

"If you ride like lightning, your gonna crash like thunder" some quote I heard somewhere.

[@halaheleu7013]

Good quote....who said it ? Sam Bankman? 🤔

[@F3RACTION]

@@halaheleu7013 😂 heard it on a film called "place beyond the pines".

[@conor2439]

'Schlubby Madoff' should spend 50 years behind bars.

[@secondarycontainment4727]

All the Democrats he laundered money to should be forced to pay back the people he ripped off

[@LeQuack94]

​@@JacksmithmagahunterBet you still think Trump worked with the Russians though huh? 😂

[@trackandhp7]

He also verbally admitted to donating millions in dark money to Republicans. I know y'all think everything is about winning for your team, but try to be at least a little objective.

[@B7NZ]

Why give to both parties, like how Bidden helped both Russia and Ukraine, Iran to Hamas and Israel, Oh bad example since he did.

[@justin2997]

​@@Jacksmithmagahunterwhy does a pawn shop have to give back a stolen watch but politicians keep the stolen money 😂

[@duaneswaby622]

You don’t know what the term “launder” means. Also he’s in record saying he gave money to Republicans as well. Not sure why you don’t think they should have to repay the victims as well 😂

[@michaelroberts7770]

As far as I know, two fellow conspirators are walking free without a care in the world... How come his parents havn't been charged?

[@pretorious700]

So now we're supposed to feel sympathy for his parents?...please.

[@TheAndroidNextDoor]

Now go after that badger looking girlfriend of his.

[@DJspAce82]

She looks like that Arthur cartoon from the 80's.

[@JeffreyJordan-gw9vt]

Hey, Badgers aren't nearly that ugly.

[@kathrynmcmorrow7170]

Sam tried that strategy in his defense, so there's that.

[@Zachary_Dale]

He won't spend a day in jail. He'll "disappear" without a trace just like the cryptoqueen did a few years ago.

[@aelnenaey]

He's already in jail.

[@Pastymeathead]

He’ll only have to spend evening in jail. During the day, he’s free to roam the world

[@CalmBeforeTheStorm76]

What's the punishment? Any co-conspirators in government?

[@luissoriacom]

More distractions 🎉🎉🎉🎉🎉🎉

[@wayneanderson8034]

He's facing life.

[@lastChang]

Next, Chinese 🇨🇳 Evergrande and Country Gardens should be put on a trial like this.

[@roseman164]

He was Freed, but now he is Fried

[@MD-oy4gv]

Brandon will pardon him tomorrow?

[@Bolivian05]

They outta do 24/7 surveillance if he tries anything to avoid his punishment

[@scootertooter6874]

Don't worry...I suspect any cameras surveilling him will miraculously fail at just the *right* time in the next few months...Remember, the LEFTISTs have a lot to hide/bury in this case...

[@PankajDoharey]

HE will be behind the bars for 1-2 yrs and then slowly by paying will be out of prison.

[@shrimaharaj6929]

fantastic piece of reporting there by Errol Barnett there 👍👌

[@Thaddeus28]

this guy thought all he had to do was say "I fu*ked up" and I'm sorry and he would get a pass 😅

[@Joe333Smith]

So every CEO of a company that fails should be jailed for life...? You know they always get paid from customer funds, right?

[@privard89]

He forgot to give ten percent to the big guy

[@Thaddeus28]

@@Joe333Smith the overwhelming majority of a CEOs pay comes from equity... this has nothing to do with customer money 💰

[@EricK-tb2dn]

​​@@Joe333SmithHe wasn't convicted failing, he committed fraud and laundering your argument makes no sense.

[@Joe333Smith]

@@EricK-tb2dn Nonsensical. What money did he 'launder'? He didn't have a drug business or something that would need money laundered.

[@fransiscoscaramanga674]

i hope he gets serious time...................at least 50 years!!!

[@JcksnACC]

Me to however I doubt he will get more than 20

[@justin2997]

politicians keep the money 😂 he might serve one year. Pardon

[@wildgardens]

Excellent reporting!

[@eamonjun]

Well at least he as all the time to play video games in jail.😂

[@darthanianmakhaan2499]

😂😅🤣😂 Damn! Can you just imagine what is going to happen to him in prison 😳

[@carlholland3819]

Hes a small fish compared to the real thieves, but they'll never see the inside of a courtroom

[@yourmumsahoe1]

how greedy do you get!

[@JohnD-JohnD]

Now go after the funds that he stole. We know where a lot of it went.

[@Flockingtheherd]

He might be found guilty but something tells me he’s still gonna be rich

[@jessesaito2856]

Definitely. Probably has a chance at parole by the end of next year. Someone what WHITE collar is going to have job offers before he enters min security.

[@Push-In_Game]

How?

[@Vitriol-Divergent]

All he needs to do is give a "donation" to a federal judge and he'll be fiiiiiine.

[@silent1826]

​@@jessesaito2856he isnt white

[@jessesaito2856]

@silent1826 autospell capilized that for some reason lol. Still counts as white collar. He's got the winning complexion

[@TheoRhoades]

Fried was too fried on ADDERALL the entire time

[@raynelson5827]

So it is possible to deliver a speedy trial.

[@NargaCC7]

110 years lmao! Sam better start writing down that list of people that donated and profited off your hard work. Not one of them had your back or supported you. Hurry and do it before they suicide you lol.

[@howierobbery]

he will be fine, vegans live long healthy lives, just look at how healthy he is 😊

[@FrancescaLD]

The reporter was so passionate and so eloquent.

[@FC2ESWS]

This guy won't survive in jail

[@feedcount]

Regardless of his mistakes, seriously? Over 100 years of prison????? Is this really justice? How will the world be safer if this young man dies as a frail old man in jail? The world see's America's punitive justice system in disgust and amazement!

[@gustav-no8rz]

Mistakes? How about 10 felonies? He will not STEAL billions of other's money again if he is in jail.

[@feedcount]

@@gustav-no8rz yes, but how is this justice is my question? Will he receive rehabilitation and be prepared to go back into society like it's done in most of the world, or will he become a frail elderly man in jail for this? It's completely shocking to people in Europe where life in prison without the opportunity to get back into society is a human rights violation

[@Spike_Spiegel__]

@@feedcount Typical smug Euro. The purpose of justice isn't to rehabilitate people. Try and find me a definition of "justice" that says anything about rehabilitation. It is not the responsibility of the government, or anyone, to rehabilitate criminals. That is THEIR responsibility. The punitive nature of justice IS the rehabilitation. If you can't figure out how not to end up in jail again after serving a 20 year sentence, that is YOUR problem. It is also YOUR responsibility to not commit crime in the first place. How would you feel if somebody killed your family and only served 10 years because the government deemed them 'rehabilitated'. Fried's sentence is so long because of the number of victims and volume of money he stole. He may very well end up in jail for the rest of his life, but that is a path HE HIMSELF chose. You talk about human rights? What about the rights of the thousands of victims he defrauded? What do they get in return? For most, only a small percentage of what they put in. Fried's sentence is a form of payment for his crimes. Get a grip.

[@JanBruunAndersen]

The world will be safer because other potential fraudsters will see what happens when fraudsters ends up in court and decide not to commit fraud.

[@feedcount]

@@JanBruunAndersen Well what the whole world outside the U.S. is seeing is that the U.S. doesn't understand how justice is done. Politicians can't win elections if they aren't 'tough on crime'. This 'tough on crime' nonsense that started in the 70's and 80's hasn't made the U.S. any safer.

[@holycrapitsjake_]

Ooo I wonder how much virtue signaling he’ll be able to enjoy with his prison mates

[@Roshand-pl9tn]

100 years is too short a sentence.

[@DZX5000]

hope he gets life in prison. what a P.O.S.

[@debasishraychawdhuri]

It was easy for the jury since he could remember everything when his defense was asking questions and could not remember anything when the prosecutor asked questions.

[@kennethraymondmoore]

Guess he's going to be Bankman-Lockedup now.

[@Cellardoorkidd]

10 points 😂

[@WilliamBonney-gl2qf]

He deserves 10years of Solitary Confinement just for his hair,alone

[@gemechannel2899]

Great Reporting

[@cyndismarsh9451]

The person who drew those pictures needs glasses or a new job 😮

[@mitchellwood4133]

We need this guy on every federal case ASAP

[@laviniag8269]

Don't we all need a good laugh here and there?

[@wlhansen2068]

😂🤣

[@brynwhitehead1731]

There’s nothing arcane about explaining units of account; stores of value; and velocity of money in relation to predicted market value. What she meant to say was if the prosecution explained what it is (an agreed upon unit of account) and how it works (velocity) they would upend the current systems. All of them. Bitcoin included. There’s nothing arcane, ie. Old. It’s occult, secret.

[@perennialrose4096]

Duh... How can he not be guilty??

[@gian19791]

He’s not 🏦 bank man now😮😊

[@warpig50]

Must feel like a bad dream you can't wake from. A roller coaster ride to the top and then just as quickly and dramatically to the bottom. And watching your son who by all accounts is brilliant amount to a criminal must take such a heavy toll.

[@tonytaskforce3465]

They taught him everything he knows.

[@oyesitsniz]

Why are no banks charged with aiding a criminal. Banks watch everyones accounts but let rich criminals do what ever they want….

[@komlat253]

Well I don't think FDIC banks are even allowed to deal in crypto .

[@lorrainehorn8256]

Love the explanation of CBS news law analysis Rikki Klieman..so eloquently explained for us boomers

[@maryholter2971]

When will the university and politicians who gave him money be arrested for insider trading and fraud?

[@talkshow5100]

When does his probation start? Will he serve that time on Epstein's Island?

[@tnickknight]

He's not Trump

[@RamzAntiTodo]

WHAT ABOUT HIS GIRLFRIEND?? LOCK HER UP!

[@clarkvaughan]

Testified against him, got a sweet deal.

[@mitchellrowland1017]

The parents should be charged next

[@I-dont-reply]

Dam his goblin girlfriend switched up on him

[@PikachuPromo]

A TRUE DEMOCRAT 🔵

[@davidsteiner1191]

Why? He contributed just as much in funds to get Republicans elected.

[@Vekikev1]

​@@davidsteiner1191because those are fake republicans

[@c-pjawa2759]

The jury did not deliberate for a day. They were out for four hours.

[@BitcoinAndCryptoCurrency]

learning the basics really helped thanks

[@Aziz__0]

Falling for people like Sam Bankman-Fried is one of the dangers of trading with expert or professional guidance.

[@sheltonPston]

I am sorry to all the victims and happy justice is served

[@bryan805]

Great to see justice served on this democrat mega donor! 🥳

[@jsr3234]

He was a mega donor to republicans also

[@bryan805]

@@jsr3234 Very small % went to GOP. SBF also admitted to being "one of the people most responsible for Biden being in office" and one of his "biggest donors"

[@justin2997]

Biden will probably pardon him. A pawn shop that buys a stolen watch has to give it back but politicians keep millions of dollars that was stolen. What Justice are you talking about

[@justin2997]

Biden will probably pardon him. A pawn shop that buys a stolen watch has to give it back but politicians keep millions of dollars that was stolen. What Justice are you talking about

[@JetSkiBuyFixPlaySellChannel]

Why aren't his crooked parents on trial and facing a similar fate????

[@markthompson1796]

100 years in prison isn't nearly enough.

[@wbwarren57]

Please show live pictures of the bridges and tunnels leaving Manhattan! My understanding is that they are crammed with bankers (the future white collar criminals) fleeing New York City, just as fast as they can in the expensive cars bought with their ill gotten gains!

[@johndoe-ep7qk]

his arrogance will be his undoing. SBF is a snot-nosed punk. the judge should throw the book at him.

[@AllTimeNoobie]

If making mistake is a legitimate reason to get away with fraud, then there would not be any financial crimes.

[@DoyleHargraves]

It turns out that there are consequences.... sam must be shocked

[@jackieschafer8264]

It’s terrible when people steal money from hardworking people. But how can the sentence he’s facing be 100 years but when other crimes are less? Like se**al assault and murderers don’t get anywhere near that sometimes? And then they even get out and more than likely do it again. I don’t get the justice system sometimes. Is stealing worse than those? He probably won’t get 100 years but I’m sure it will be a lot.

[@JanBruunAndersen]

Se**al assault happens to non-rich people. That is why the legal system hands out lenient sentences in cases involving violence or threat of violence. Financial fraud happens to rich people. Rich people that control the system and the courts. And that is why the sentence will be harsh.

[@craig7350]

What he's really guilty of is not having an exit strategy..