Forum Topic

Bankman-Fried sentence

just cannot comprehend Bankman-Fried sentenced to 25 years in prison for fraud In November 2022 the exchange went bankrupt and it emerged that about $8 billion had been diverted from customer accounts to pay back loans owed by his hedge fund, Alameda Research.Prosecutors had called upon Judge Lewis Kaplan to impose a sentence of between 40 and 50 years as punishment for his crimes, as a warning to others, and to ensure that he could “return to liberty only after society can be assured that he will not have the opportunity to turn back to fraud and deceit”. And no doubt he is a good boy he will get In about 10 years after stealing from so many people’s accounts

Richard Atterwill ● 333d3 Comments

Agreed, Jackie. The latest information about the Post Office scandal, which has just appeared in the last couple of days, shows that it was known at higher levels of the bureaucracy that records could be altered remotely, without the knowledge of the local post-office manager. Will those responsible face justice? I have my doubts.

Colin Jordan ● 333d

Americans impose massive sentences for this type of fraud, while in the UK the penalties would be just a few years.  I personally back the British approach. People who invested  large amounts in such schemes have at least contributed to the problem. So have credulous journalists and politicians by bigging these people up as wunderkind when most of them are out of control youngsters with no moral fibre and a tendency to lie.. But the players in the Post office surely deserve  much stiffer penalties. For years they appear to have peddled lies and abused their power over many years to oppress and destroy innocent people in a systematic and cruel way.  Sadly I fear few will be punished and those that will, with very minor sentences.

Jackie Elton ● 333d

Well, it is the land of the free.

Andrew Jones ● 333d