Crypto-King Sam Bankman-Fried sentenced to 25 years in prison | DW News

He swindled customers out of billions. The judge saying it is clear he only regrets getting caught.
Chapters:
0:00 What he did and why he was sentenced
1:38 Molly White, Cryptocurrency researcher and critic
8:45 Jens Korte, Financial Correspondent
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[@cheesium238]

Why does it feel he'll be heading to a low security prison with access to a laptop with LOL installed

[@carlmcgregor2707]

He should be sent to proper prison... not the Martha Stewart style country club prison.

[@humbleindian6303]

the whole concept of crypto currency is fraud

[@BookwizardQ]

25 is far too short for the number of people impacted.

[@urimtefiki226]

There must be a group of bullshiters working together, you are right.

[@jfern6673]

what are you talking about? they retrieved 100% of the funds.. investors in ftx token are not included..

[@Eric-lx8hp]

He'll get less than that for good behaviour

[@pascalbertaud927]

What do you mean by they "retrieved a 100% of the funds"? @@jfern6673 Surely that changes the complexion of things somewhat?

[@ArchesBro]

OP is right, SBF stole an incredible amount of money, it is very shocking they wouldn't give him even 50 years. Lets say he stole a billion dollars, that is many lifetimes worth of wages for the average person. Oh well, his parents can keep their massive home they got from fraud

[@fakeis200300]

Too short. Bet he will be out in 10.

[@geoms6263]

5

[@bbustin1747]

Federal time in prison is usually pretty lengthy with minimal time off for good behavior. State is usually much shorter. The FEDs don’t play , they make examples of you. He still skated on the original sentence. Treated better because his parents were connected at a prestigious Stanford and politically connected

[@user-cb4ee8tj6v]

@@bbustin1747 "SBF may serve as little as 12.5 years, if he gets all of the jailhouse credit available to him," Mitchell Epner, a former federal prosecutor, told CNN.

[@bbustin1747]

d @@user-cb4ee8tj6v He is going to serve nearly the entire amount of the time. The FED prosecutor will make sure of it. He was and has made a mockery of the process with his antics during the trial. Once thing you don’t want to do is pias them off in a highly publicized trail. he will serve nearly all of it.

[@bbustin1747]

@@user-cb4ee8tj6v DW censors comments, but my answer is still the same , the FEDs don’t like those they prosecute to make a mockery of those they bring to trial and convict.

[@entropyachieved750]

Should have got 50 years. That would make these frauds think twice. When he comes out he will still have all the ill gotten money he gave to his parents as well

[@humbleindian6303]

the whole concept of crypto currency is fraud

[@ProtatoFarmer69]

That's it?

[@humbleindian6303]

the whole concept of crypto currency is fraud

[@maestrovso]

Should had gotten over 50 years without parole. Also the parents should be charged as well.

[@Mjixa]

Ya think billions is a simple mistake 🤣 I missed a credit payment I’m screwed

[@sdaiwepm]

25 years means he can get out after 12.5. Considering the scale of the fraud, and his complete lack of remorse, it seems light.

[@user-uf8nb1vc1o]

That’s not what happens in the federal system. He will basically have to serve 85% of his sentence. There are some other ways to lessen a sentence such as participation in a drug program.

[@humbleindian6303]

the whole concept of crypto currency is fraud

[@kgrach]

The minimum sentence he will have to serve is 21 years. It's a federal Prison. people don't talk out of your @ss

[@sdaiwepm]

@@kgrach you’re wrong. There are other ways to reduce one’s sentence. This has been widely reported. Google it.

[@catpowerro1110]

He is not Fried, he is Fryed. This is what happens when you let kids play with your money.

[@dee420lee]

It is still spell FRIED, No such word as fryed anywhere in the English language.

[@lhommeaudacieux]

I was sceptical how such a young person as White could possibly be seen as an expert commentator by DW. Surprisingly accomplished.

[@geoms6263]

And those responsible for the financial crisis of 2008, what punishments did they receive?🤔

[@kimpedersen4746]

they got job in the obama administration .. sad but true (

[@geoms6263]

trillions of dollars were lost and the world is still paying for the greed and stupidity of others. ...

[@MudThought]

@@kimpedersen4746 not just obama but also republicans. both side .... you know it

[@lowwastehighmelanin]

New C-suite jobs largely.

[@humbleindian6303]

the whole concept of crypto currency is fraud

[@The_Savage_Wombat]

One glance at this guy and all I see is sleazy con artist. How did he fool so many people?

[@justsomeone953]

looks so nerdy and his story was nice + crypto == huge gains is believable

[@leonard.c]

make it 250 years

[@damlitproductions8126]

"SAM THE 'BANKMAN REALLY FRIED' YOU GOOD AND PROPER"😂😢😅😮

[@nil0bject]

Ohhhh! why didn't anyone tell me that i could just steal everyone's money when i'm young, do 25 years in prison, and be rich when i get out?!?!?!??!?

[@asldn9647]

not worth it lol

[@prettypuff1]

You’d be out in 10 years; think of the interest you’d accrue

[@Realisticautism]

Only 25? And doesn't have to pay back the billions ? 😂

[@Sophistranxxx]

I'll go to jail for that much money 😂😂

[@sparks1792]

I mean how would he.

[@user-cb4ee8tj6v]

"SBF may serve as little as 12.5 years, if he gets all of the jailhouse credit available to him," Mitchell Epner, a former federal prosecutor, told CNN.

[@nh6central]

He's ordered to pay $US11B. But I don't think that's going to happen.

[@MudThought]

@@geoms6263 because there are a lot of people involved, systemic fault. different case

[@HumanBeanbag]

Notice that he was stealing real money 😂

[@odysseusmaximus]

its funny how.... if FTX was just a ..... bank....... there would b no problem here 🤣

[@DarshanaHashendra]

He's not handcuffed in any appearance. Quite surprice.

[@quakerninja]

he won't live without Internet access

[@wilfordbrimley4397]

federal prison, aka cushiest retirement home ever. theres no justice in america

[@justsomeone953]

"retirement home"? Are you serious?

[@eskay2012]

Only 25yrs of jail (may even get earlier with good behaviour)? Imagine the number of lives that he had destroyed especially those retirees who need money to live. This is American Justice?

[@TesterAnimal1]

He defrauded the greedy. Crypto is STILL a ponzi scheme. If you make money out of it, it’s all good. If not, send somebody to jail. Honest capitalism innit.

[@manekedark]

Don't worry rich people were not scammed only poor people were scammed.

[@justsomeone953]

@@manekedark not true ... rich got involved too

[@mylifeuntilnow]

He didn't actually steel the funds, he illegitimately malinvested them. One is called a "rug pull" the other is called being a reckless 22 year old billionaire... Annnd the world is not a better place because this kid has to sit in a cell for 25 years, the world needs prison reform.

[@handsomeblackman255]

He bought gold and diamonds, then buried it for his release date.

[@humbleindian6303]

the whole concept of crypto currency is fraud

[@justsomeone953]

no, only crypto :D

[@bbustin1747]

@@justsomeone953 Crypto could be extinct way before his term is up. You know what happens with tech …..

[@rossicourvosi218]

He will quietly be let out way before he does 25 years 😂

[@streetymike]

16 billion / 25 years... that's a great return.

[@kurtilein3]

That happens if you steal enough money to disappear to a quiet life in total luxury for generations in some place without extradition. And then you leave out the part of actually running.

[@MrIrons-og3rg]

What about the politicians????!

[@user-cb4ee8tj6v]

"SBF may serve as little as 12.5 years, if he gets all of the jailhouse credit available to him," Mitchell Epner, a former federal prosecutor, told CNN.

[@bbustin1747]

but he is going to definitely lose his virginity 😂

[@user-cb4ee8tj6v]

@@bbustin1747 Judge Lewis Kaplan said he would recommend to the Bureau of Prisons that Bankman-Fried be placed in a medium-security facility

[@scout005]

Sharp analysis and commentary from Molly White. Well researched.

[@chrisbronson5341]

What a joke . Stop others Doing the same ? It only inspires them !

[@Simp_Zone]

Ohhh nooo! A rich person finally got what was coming to them! HOW WILL THE WORLD SURVIVE?! !

[@govindagovindaji4662]

02:17 We keep hearing about "the deterrent effect" or "the message it sends to others thinking about committing similar crimes. I do not think that that this should ever be a reason for an individual person's prison sentence. A sentence should regard all the aspects of the criminal and the crime, period.

[@DJDiskmachine]

Great to see Molly on DW!

[@razorbrickful]

What would happen to politicians then??

[@Alex-ib4tc]

Here's a Netflix series idea: some of defrauded investors commit crimes to get into the prison where Sam is placed.. chaos ensues.

[@humbleindian6303]

the whole concept of crypto currency is fraud

[@justsomeone953]

every week a different investor xD

[@IvarDaigon]

Not bad, even if he managed to squirrel away a few million dollars in crypto he will still be a very rich man by the time he leaves prison in 12 or so years after being let out for good behaviour. This won't be much of a deterrent as it only teaches future conmen to make sure they hide their assets better.

[@justsomeone953]

12 years will change him a lot .... he will be a very different person.

[@user-vi2dk1qz5f]

Such a joke. The judge was on the take. How crazy. No time for the folks who make payouts.

[@JorisK1980]

Congratulations, I just unsubscribed.

[@justsomeone953]

5.08M subscribers lol

[@lovyrituraj]

he has a typical last name, which is a red flag in itself

[@user-cb4ee8tj6v]

Judge Lewis Kaplan said he would recommend to the Bureau of Prisons that Bankman-Fried be placed in a medium-security facility

[@amirhosseinetemad3094]

4:37 her smile

[@vigilante3916]

Where's TSM?

[@hackedbyBLAGH]

Why do you keep clicking your pen while the guest is speaking??

[@BrentGoffReports]

I possess no pen that clicks.

[@potoo6122]

hes gonna be like 55 when he gets out

[@Breakinlines]

Keep him in there. No release, until hes done his time.

[@helenamcginty4920]

How did he think no one would notice?

[@justsomeone953]

It was possible. If BTC and crypto would have been rising ...no problem. FTX is close to pay all the investors back right now because of a "good market". In money of course, not in crypto.

[@xcel5203]

SBF has shown it's possible to defraud and get away with it. I'm sure he'll be back to doing what he does best . So much for justice.

[@OlympischbriesjeNadaAverage]

molly white is so naturally cute, imagine her dressed up with make-up etc.

[@ZWD2011]

Why are so many people so very angry? Remember your mum's advice. If it sounds too good to be true, it probably is.

[@yoloz1324]

He deserves more than 25 years -this will halves as he serves the sentence. Nonsense sentence.

[@troyingram716]

If their is no law that States a financial institution give you your money back they don't have to. Banks only do it because of state regulations.

[@myself3209]

They figured 25 years will be enough for everyone to forget.. which it is.

[@OnlyThe1Son]

25.. means he will only have to serve 15... guessing he will be out in 10

[@jacobcollins3954]

Crypto and Bitcoin are very different. Crypto is the wild west. Bitcoin isn't. People just need to do some research before throwing their life savings in.

[@zapfanzapfan]

Should have gotten Madoff-time.

[@yabutmaybenot.6433]

A man with hair like his will have no problems in federal prison. I'm sure he'll fit in with the convict gambling scene.

[@braxxian]

Imaginary money backed by nothing but fresh air and wishful thinking. What could possibly go wrong?.

[@justsomeone953]

There is crypto currency out there which is at least limited ... you can not say that about so many fiat currencies like the US Dollar.

[@EhEhEhEINSTEIN]

This is the sort of headline I want to just wake up to one day for Trump. Tired of all the stringing along..

[@andrewthomas695]

Sadly, many Americans see corruption as a virtue. If he becomes president again, he may pardon himself and he may even make himself president for life. He has enough supporters to do the former, and maybe enough to do the latter. This is because Trump is merely the manifestation of modern Americans.

[@suigeneris4572]

well we all know he's not gonna be in there for 25 years, wait till the heat dies down😅

[@ralphnader929]

Oooh, few years ago all western media were welcoming him as the young entrepreneur, what went wrong in their judgment?

[@ratti80]

No, this expert doesn't know much. BTC has a four year cycle because of the halving. Not AI.

[@doreeneclose]

She’s a bummer! “Crypto is in slow decline” Say what? Bitcoin just had the most successful ETF launch in history.

[@theeraphatsunthornwit6266]

Follow him when he is out of jail too. Do not let him use his hidden money

[@user-qp9pp5zi8u]

I hope there will be no such thing as a legal system👿

[@kitersrefuge7353]

He'll be out in 10. But, someone already has a price on SBF's head...so, he should for his own safety, remain in prison. imo.

[@m5chk1]

DYOR

[@JacquesdeMolai]

It’s too late to realize that was a bad decision. By the way, who is Molly White? She is good-looking, tho

[@bbustin1747]

Meanwhile, Gold speaks the truth at its all time high😂 , and central banks are buying at historic levels.

[@leonard-teo]

Simply not long enough

[@yoloz1324]

How is Bernie Madoff sentence running so far???

[@manekedark]

He is in jail because he scam rich people, however SBF scam only poor people so he will be free soon.

[@shinjutsu2773]

So this guy got his 25years of prison for fraud quickly and trump is still out there? Double standards at its best

[@chrisbronson5341]

He just stole from the wrong people . And did not make enough for the Right ones .

[@MayMesyats]

Так это не Марк Фейгин в молодости?

[@IrrationalCharm]

10 years in a very comfortable prison with tv and a PS5. And then released for good behaviour.

[@jawlinejawlinejawline]

Would you do 10 years in prison ?

[@IrrationalCharm]

@@jawlinejawlinejawline for stealing hundreds of millions? Sure why not

[@CautionCU]

Probably less than a day per person defrauded.

[@ratti80]

This is NOT the fault of Crypto!!! Who is this so called expert? Many countries in the EU have regulations now. And in a couple of month the EU has regulations as well. And that all are Republicans etc. Is a stereotype. This was years ago. Does she know that the US is not the world?

[@ikuona]

Laydy can't use crypto and is afraid of loosing her job to AI. She is missing out on everything and thats why she is talking so negativly about this two topics

[@terjehansen0101]

What did you expect ? Just billions of teenagers- neckbeards sitting there, mining "crypto currency" with electricity and their expensive graphic cards. And we are to "not buy manual stick shifts". HAHAHAHA

[@omgitsabloodyandroid5161]

Oh dear, what a shame, never mind.

[@TheDavidlloydjones]

Do the parents get to pay back those houses and other goodies they got out of their kid's big scam?

[@nathanspreitzer6738]

He made plenty of friends, I’m sure he’ll get out early sadly

[@kwazar6725]

Same bankmann fraud

[@Kemacat]

So you have been called a straw man that we can bring on to do a 5 minute argument against a thing that we don't really understand. The real questions are scary and take about 5 hours of peoples time to understand but we don't want that.

[@bbustin1747]

Crypto King is going for the crown of Crypto Queen. 😂

[@Zero-Sun]

I mean, isn't this what regular banks do too? They use your money to invest....

[@brandondegraaf]

If your bank manager straight up spends your life savings into Super Bowl ads, celebrity endorsements, sports teams, $100 mil bribe to the Chinese government, political donations, luxury sport cars, private jets, and real-estate for themselves and their parents then you need to switch banks. I'm only scratching the surface, the full story is farcical.

[@deeprecce9852]

20 years incarceration in exchange to be a billionaire...worth every penny, many hv to slog a perhaps a hundred lifetime lifetime to be a billionaire!!

[@chrisbronson5341]

I guess he 's ..Fried .

[@stuchambers297]

I have no sympathy, my brother lost 200 Thousand dollars on cryptocurrency !!!! What a big con.

[@MrHmauch]

That’s just insulting… obviously he paid off the right people.

[@Jonas-sw8mj]

Should be for life, but that's probably reserved for dissidents and whistle blowers

[@user-qo2nc7ge1c]

Not worth watching. First 1.5 minutes its news. Then some hobby dobby girl gets in the picture and finishes the rest of the 15 minutes with a lot of bla bla bla ,

[@sicqnuschannel4126]

Seriously ! Bankman-F.R.I.E.D. (...). Everything was in his name from the beginning.

[@ryanthompson1981]

Not long enough

[@vincentray5226]

Crypto-justice?

[@mikefox1932]

Political connections, should be 4-7 then.

[@ben-mp5ys]

Alex Ritcher of ANTARES trade is living free.People lost so much money and he is living a freeman. I hope the law catches up with him.

[@MrIrons-og3rg]

The media was promoted him and they could all go to jail

[@katarn999]

Good. Let's hope he makes some "friends" in prison.

[@MatthewMS.]

I want the movie to be very well done. SBF should be played by Nicholas Cage.

[@metamind095]

What a tragedy! I stand with Sam here, he was "reallocating" money for a better cause...arguing that he used it for a "lavish lifestyle" is ridiculous, he always was humble and prudent in money spending. 13 million mansion (for the WHOLE team) is not an exception. Granted he played the capital game to harshly but I sincerely believe that his effective altruism ideology is based and just imagine how transformative of a change somebody with his mindset could have brought to our society. What a loss!! I m also deeply dissapointed by the public perception only focusing on surface level missmanagement technicalities. Just look at his main competitor Binance...they essentially almost got caught doing the same thing! Also the fact that Caroline so cold-heartedly betrayed him in court is beyond the pale...