Bankman-Fried was charged with seven counts of wire fraud, securities fraud and money laundering after his crypto exchange, FTX, and hedge fund, Alameda Research, collapsed.
  • Ertebolle@kbin.social
    40·
    8 months ago

    Being incredibly guilty and having a jury that’s going to have to come back next week if they don’t finish by 8pm is a dangerous mix.

    • WashedOver@lemmy.ca
      5·
      8 months ago

      I’m currently reading a marketing book from the early 90s at it uses Mr Dump’s empire as examples of failures on a few fronts from brand extension to the failure of ego and the impact on proper marketing. His bankruptcies are also mentioned along with the huge brass T he had in his office.

      It’s amazing to me how much of a Turnip he has been for so long and how far he has gotten despite it all. Having his father’s money certainly helped him keep going as most normal people do not get that many get out of jail cards.

      Unfortunately his escapades could lead to further deaths than what we have seen so far. Still I can’t get how this guy is a savior to so many despite the “teachings” of their good books…

  • lntl@lemmy.sdf.org
    11·
    8 months ago

    Anyone know what his defence was?

    There was a trial so some attorney had to make a case that SBF wasn’t guilty of fraud. Curious what the strategy was.

    • IHeartBadCode@kbin.social
      591·
      8 months ago

      Curious what the strategy was

      Defense tried to downplay prosecution’s intent argument. Seeing how literally everyone turned on him for a reduced sentence plea, it went horrible for the guy. Like a fucking sub full of billionaires, the goddamn thing went completely tits up on him at alarming rates faster than Chuck Yeager could have wildly imagined. Shit show greatly downplays the absolute cluster that was that trial’s defense. I have seen more organized effort from a President in bronzer, screen passing paper towels to hurricane victims than what was being reported as the argument defense was putting up.

      Then, for who knows what reason, the guy decided to testify in his own trial. I’m guessing that at some point they were like “Fuck it, can’t get anymore guilty as fuck, let’s go for the Hail Mary!” Because no defense lawyer would ever advise that, but motions hands in a general direction as if presenting something. The jury got a real rare treat of watching a Federal Prosecutor skillfully remove the vital organs of a man with his own words.

      Like I would quip that maybe he [Sam Bankman-Fried] learned something from that mistake, but the dexterity by which prosecution so smoothly diced Bankman-Fried into chum in front of the Judge, Jury, and the Almighty, I highly doubt the signals for “HOLY FUCKING SHIT WHAT HAVE I DONE!! ABORT ABORT!!” ever made it to the receptors in that brain of Bankman-Fried’s.

      So I honestly think at some point the strategy went from “cast doubt on the intent” to something along the lines of “Just don’t piss your pants in front of everyone! Well just catch it back on the sentencing!! OKAY?!”

      • Saeveo@lemmy.worldEnglish
        7·
        8 months ago

        The jury got a real rare treat of watching a Federal Prosecutor skillfully remove the vital organs of a man with his own words.

        I saw a great line in an article earlier that described it as “she simply unhinged her jaw and ate Bankman-Fried”.

      • charles@poptalk.scrubbles.tech
        5·
        8 months ago

        Because no defense lawyer would ever advise that

        If your client is actually innocent, there’s a place for getting on the stand with righteous indignance. But… That was clearly not the case here.

      • WashedOver@lemmy.ca
        2·
        8 months ago

        Another article I read looking at things from his parent’s pov, thinks he likes to gamble, and there was a small chance he could walk free like OJ and despite that chance being so small he went for it.

        Usually people take the deal to plead guilty to save family and friends the ordeal of testifying in court. He seemed to not care about this.

        As with most parents they often think their child is innocence and still the 3 year old they once knew. The article covered how that has been shattered now without a doubt after this case. The appeals should be interesting and where they have left to go after this sh8tshow from the defense. The father might be pulled further into this next…

    • Ghostalmedia@lemmy.worldEnglish
      19·
      8 months ago

      His Hail Mary defense at the end was basically “I didn’t have proper risk management roles staffed and I made rookie mistakes.”

      AKA: his defense was playing dumb. It didn’t work. Too many people testified against him from the inside and said that he did all this shit intentionally.