Breaking Down Sam Bankman-Fried’s Upcoming Sentencing
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- Опубликовано: 26 мар 2024
- Join me in this live session as I cover the upcoming sentencing hearing of Sam Bankman-Fried, scheduled for tomorrow before Judge Kaplan.
As many of you are aware, the government is pushing for a hefty term of up to 50 years in federal prison, whereas his legal team is advocating for a considerably shorter sentence, around six years.
During this stream, I will cover:
Speculations on the potential sentence length.
Insights into possible locations for serving the sentence.
Reflections on Sam Bankman-Fried's current state of mind.
Plus, we'll explore additional aspects of this case, including his probation report.
Thanks for tuning in!
Justin
jp@whitecollaradvice.com - 818-424-2220
Visit www.whitecollaradvice.com to access our federal prison blogs
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Phone : - +1 818-424-2220
I served 3 months in the jail where he was held in the Bahamas back in 1998. I had the brilliant idea of taking my son and his friends on a boat to the Bahamas from Palm Beach. I can confirm the 90 days in jail were brutal but not as humiliating as the 10 months beforehand where I was forced to live at my cousin's house in Nassau per my bail conditions. I had to surrender my passport and could not return home. I lost my job and many of my friends. That jail is not for the faint of heart, but being remanded right after my sentencing was such a relief, because I finally was working towards the resolution of it, not sitting in the purgatory of uncertainty.
To add insult to injury, I was immediately arrested upon returning to the US for violating US immigration law as well. Luckily I was able to get probation for that.
It sounds strange to many who have not endured it, but I know the value of getting the sentence started, which is why you felt relief getting taken into custody. Hope you’re well. Thank you for contributing.
taking a boat to Bahamas is a crime?
a close realtive of mine was sentenced to a year and a day in federal prison on December 20th. He began actually serving his time on January 23rd and though he was not a client of yours, he learned a LOT from your videos and I believe the steps he took thanks to your advice is why he ended up with a sentence of a year and a day instead of the maximum 7 years he was facing. His judge even gave him a sentence that was significantly below what prosecutors requested and what was suggested in the PSR! As he imposed the sentence the judge told him "a year and a day, but you will most likely be out in 7 months..." Again, we were all amazed because the judge in his case has a reputation for being tough as nails. Even his defense attorney had warned him that he drew a very tough judge! After sentencing the attorney said he had never seen that judge act the way he did and said the sentence represented the best possible scenario for his case. The defendant faced up to 7 years in prison and a 250-thousand dollars fine but ended up with a year and a day, 3 years probation and a 5-thousand dollar fine. His friends, family and co-workers including his boss all wrote character reference letters, as you suggested, and it was clear the judge was impressed by the letters. My relative is now in the Duluth prison camp and continues to follow the advice you offer and is working on the 30 hour course outlined in Michael Santos book "Preparing for success after prison" The workbook has the added benefit in his region of counting toward earned time credits! My family can not thank you and Mr. Santos enough for what you are doing to help everyone in need of help!
His parents are up to their necks in this. They should be in the jail cell next to him.
They will avoid prosecution. There suffering is knowing their son is in prison.
Condemnation without evidence bothers me. I haven't seen a shred of evidence that they knew or should've known what was going on with FTX until it was too late. We have to stop assuming DNA equals guilt by association. Judge Kaplan has had the opportunity to ponder every conceivable angle of the individual, SBF. I'm sure he's done more than his share of soul-searching since November, and those of us who have followed this saga since FTX's pending implosion hang in suspense with bated breath.
Thank you so much for your analysis and thoughts on the subject.
@@northshorehighlanders6167 Ha ha ha. If you think they are innocent, then you have clearly missed out on a few chapters in the story about the collapse of FTX. But feel free to keep giving us all your words of wisdom.
Why haven't they gave the 10 million that Scam gave them!They know It was stolen 😅!
A family room !!
Excellent analysis of the case. Here's hoping he gets the justice he deserves, no more, no less.
Appreciate you joining our community and contributing. Thank you.
I really like you. You know the law and give us good information. I am looking forward tomorrow what he will get. And if you know when the rest of them will be sentenced please let us know.
Thank you for your nice message! I’ll keep providing updates.
You empathize with his family? Those vultures? The people to whom he gave millions, and they don't give it back? The mother who claims there's no such thing as guilt? The father with his tax advice? The brother, building a bunker for himself on a remote island, so he will survive the coming apocalypse?
It's kinda hard to give empathy to folks who have none, zilch,whatsoever, of that stuff towards their fellow human beings. It seems to me, however, that they'v got plenty of contempt toward the rest of humankind.
This was a great video. You were spot on with your prediction. Saw you on CNN today ! Well done
Thank you.
Take responsibility for our actions!!!
Finished parole in 2001
and haven’t been back to jail or prison since, why ???
Because I stopped
Lying , stealing & cheating (imagine that )
SBF is blessed
He has resources
( mommy & daddy )
Best thing for SBF to do is
Go to prison and write a book
Or a screen play, thinking we lock up too many is prison in America is crazy , Some “Americans” are monsters 👹
some of us need prison in order to learn how to behave in society….
Don’t want to go to prison??
Dont do anything illegal!!!
Simple!
really like your videos. Very interested to see what happens tomorrow. The problem I have with SBF is he appears to have no remorse for what he has done. Will be interesting to see if he makes a statement tomorrow
Thanks for watching. Let's see what happens tomorrow!
I think at some point society itself needs to move on and focus on fixing the issues that were in the background of SBF's downfall. We need to have audits, including IT Audits, for all crypto companies. They need strong internal controls especially for deposits. As a society we need businesses that create value (and therefore growth) for society and not just play goofy shell games. We need to accept our vulnerabilities such as mental health. SBF needed support years before FTX but he also needed to be honest with himself. Finally, we shouldn't criminalize drugs but we need to educate people about them. After everything, I suspect there is more truth than fiction to the rumors about the party culture and lack of sobriety at FTX. It's ok to have fun but addiction does not build beautiful things. Addiction is destructive.
Irving Picard! He was a partner at the first relatively small (about 50) law firm I worked at in NYC in the 90s. I remember discussing Peking Duck with him at a summer associates' lunch, which, if I remember correctly, he knows how to make.
I did 55 months in federal prison for bank wire fraud. I was released Feb 20th to Philly on home confinement. I watched White Collar Advice during pre-trial. It helped me a little. But most i learned when i got there lol
Little is better than nothing! Welcome home. Happy for you!
Thank you Justin.I was at Cumberland FPC, Ashland LOW and Beckley FPC. I went transit to OKC and ATL. U aint been to prison until u go transit lol. But thank u Justin. UR videos helped me@@WhiteCollarAdviceOfficial
SBF lead an elite blessed & fortunate life in the world of academia (his parents are Stanford academics). His knowledge of business was from the detached intellectual perspective of academic so when he got into the trenches of the real business world he was ill suited for that harsh reality. SBF's parents are academics and while I love academia it is a far cry from the rough and tumble world of Bill Gates and Steve Jobs and Elon Musk. SBF got his clock cleaned by the business life and had to resort to criminal behavior to get by until it all collapsed. My take is that his failure in business was because he was sheltered by academia through his parents and his upbringing. He did not know what he was in for which leads SBF to inprisonment for many years. He failed in life to date miserably. He has hit rock bottom. His lady has turned on him. He has been scorned by society. He is a federal prisoner for presumably at least a decade. He is smart enough to know all of this and he smart enough to know no one but himself can save SBF and whether or not his second half of life is any better is solely up to him.
Prison can be useful for keeping certain people out of society, thereby limiting their ability to commit further crimes. As far as the punishment and deterrence aspects of prison: not particularly useful or effective.
Question: Do you think the 3 who testified against SBF: Ellison, Wang and the other guy deserve any prison time?
My man Sam Bankman’s gonna beat the wrap. I’m calling 14 years in prison, out in 10
Fourteen years is beating the wrap?!?
i agree with you wholeheartedly. SBF would have been wise to follow this advice, but i don't think he's there yet mentally. i don't know what his sentence should be but i agree that 50 years seems too long, but 5 or 6 seems too light. maybe something in the middle would servce justice and still allow SBF to salvage a life of some type.
A tiger doesn't change his stripes. Neither will this idiot-criminal, of sorry I mean idiot-savant.
People will be paid back in dollar terms purely because Bitcoin has gone up 4x since the bankruptcy. A better way of looking at it is if You had 4 BTC in FTX, you'll get 1 back. I do agree that the bankruptcy team are raking it in and thats not right.
Collectors get rich, so rich. Victims always come last, despite their claims.
I was of course VERY interested in what Justin had to say. But I am equally interested in YOUR comments here, and again tomorrow.
At no time in my life did I ever have SBF’s wealth. But it is he who will be sentenced tomorrow and not me.
I wouldn’t have had the skills to manage gigantic investment fortunes, either. And neither did he, apparently.
Sanjosemike (no longer in CA)
He will get a big sentence.
Later, he will appeal it (no losses) & walk out after < 10 years in camp. If he was Repub Christian life in prison.
Idk if he has feeling because he intellectualizes & he only thinks his choices were bad because he got caught
MUCH to light a sentence. He stole money from hundreds, if not thousands, of people. Some "life savings" in SBF's dirty hands. Money they will never see. 50 years in prison, at least!
I say 20 is fair
I prefer a sentence where time is shared with caroline, wang and Nishad.They where just as guilty
15 is too little…..
What no harm? The victims have had no access to their funds with no end insight. He lived the high life. 25 to 30 years for the piece of work
Empathizing with his family (you mean parents)? Let's go back and see how much, or nah, whether these folks understood what empathy is...My piece of outside of prison advise to you is don't throw pearls before swines.
Justice is not served .. 25 years is nothing .. I don't know why ( the chosen once ) get free pass .. he should've been in jail for 120 years (that is justice for all American who suffer from this man)
Wrong
I think he will get at least 25 years but I am also sure Biden or Trump will pardon him ASAP. and he is NOT a child he is 30.
In my country he would get 5 years max. In the Usa the prison times are way to high. He did some stupid things but i dont think any amount of money is worth locking a man up for 50 years. At the end of the day its just money.
USA sentencing is extreme. And prison reform is badly needed.
@@Echo-o-o man in my country you get less for murder. This man didnt kill anybody he just made some stupid mistakes.
@@godblessyou840 I think his crime is serious, but that 50 years for it exceeds reason.
what if he comes out of prison as a super ripped, street smart 50 year old bad boy.
Actually the most we can expect is that he will walk out of jail in long pants.
If Mr effective altruist was so worried about his health and life expectancy why did he steal $8 billion dollars?
You sound like the prosecutor!
I hope they give him 50 . Customers are not getting their money back. Do you think everyone deposited their money into FTX the day it went bankrupt? No they obviously brought at a lot higher prices
50 years would be worse than the crime he committed.
@@WhiteCollarAdviceOfficial you serious? Add up how much money has been lost. Now add up how many hours each individual spent doing there job most likely something they would rather not be doing and it’s a lot more than 50 years. I know it took me 12 years of savings
All the Democrats that he donated stolen money to should all have to pay it back.
Kevin O'Leary should be thrown in jail as an accomplice. Due to his negligence and lack of due diligence, he lost money not only for himself, but many others.
I think we send enough people to prison. Let’s not add “lack of due diligence” as another reason.
@@WhiteCollarAdviceOfficial As someone with the name White Collar I would expect such a reply. O'Leary was negligent and pumped a ponzi. Consequences would be nice.
"all the money will be returned"
Sure but what about the people who missed out on bitcoins massive bull run because sbf stole their crypto lol
You made a good point.
committed fraud, destroyed people's future, you cant say a long long prison term is excessive not that SBF may suffer with health issues. what about investor's health ?
Is 15 years not sufficient?
@@WhiteCollarAdviceOfficial No, he should be in prison for life.
Is this judge democrat or republican? That will answer most of your questions.
I wouldn’t be surprised if they put a lookalike in prison on his behalf. There is no justice for rich criminals in America. I wish you would do a video on why so many Americans lack faith in the justice system.
I’m confused: he’s been in custody since August 2023; the feds want 50 years. What’s justice, in your opinion
@@WhiteCollarAdviceOfficial His defense is asking for 5-6 years. I wouldn't be surprised if he gets 5 years and is out in 2 with Martha Stewart-style time served with all of his connections to our crooked US government. The crooks will find some way to silently circumvent the mandatory minimums. He'll go into some kind of witness protection program and live out his days in some beach town in Europe on the funds he snuck out the back door.
Justice would be life in prison without the possibility of parole for all of the people (including myself) who he ripped off. Fortunately, my losses were under $1,000 but plenty lost their life savings. Plenty of other people totally lost credibility like Tom Brady. This guy committed one of the worst financial frauds in history. He will get off easy, further eroding the already low trust that people have in the justice system.
I bet his biggest regret was trusting in the girl who snitched and got away with it.
She pled guilty.
@@WhiteCollarAdviceOfficial ... and then what happened? Back to her privileged life?
@@Michael-iw3ekshe hasn’t been sentenced yet. But the judge will take her cooperation into account.
@@unclvinny So is she in prison waiting for sentencing?