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.
Six minutes of house arrest plus time served and a serious I really mean it this time pinky promise to not use this specific method of fraud ever again, but other new, innovative methods of fraud will be a-ok, especially if you invoke Jesus like Jim Bakker.
(Gawd I’ve become cynical and have rambled so far off topic)
110 years max, sentencing in March 2024.
So what’s the minimum, since that’s all he’ll be getting?
Six minutes of house arrest plus time served and a serious I really mean it this time pinky promise to not use this specific method of fraud ever again, but other new, innovative methods of fraud will be a-ok, especially if you invoke Jesus like Jim Bakker.
(Gawd I’ve become cynical and have rambled so far off topic)
White-collar crimes. No mandatory minimums on any of those.