Defraud rich people? Go to jail.
Defraud the rest of us? Get promoted to CEO.
That was his real crime. He stole rich people money. Where's the CEO of bitconnect? Not in jail, I can tell you that.
Glenn Arcaro was sentenced to 38 months in September 2022
Arcaro was an American co-conspirator, not the CEO
AFAIK the CEO was not in America when BitConnect scam got exposed. He was in India and managed to disappear. If found, he faces 70 years in prison. Arcaro was the second in command. That's better than nothing.
What did he do?
Bitconnect was a crypto ponzi scheme
He didn't defraud the rich lol. The exchange was one of the most popular among cryptocurrency users. There are no minimum and no sign up fees. The number of people he defrauded is probably in the millions.
If anything, knowing crypto, the rich almost certainly had insider knowledge and withdrew their funds before everything collapsed.
Big investors into his company got burned too.
Give me all your money! No no I'm not robbing you, I wanna be CEO and I need this on my resume.
Just cuz u asked like that—SOLD! You silver-tongue-sumbitch ;)
Dude wanted to build a bunker for a possible "Apocalypse". Another delusional billionaire. Glad this guy got caught.
Now, delusion aside, I don't know why some want to be around in a post-apocalyptic world.
Especially as a billionaire, which wouldn't make a difference after a catastrophic collapse of the financial system.
You’re just not thinking like a narcissistic billionaire.
You see, the financial system didn’t make him a billionaire. His innate genius and talent did. All the system has done is prevent him from truly achieving greatness, with its laws and regulations.
But post-apocalypse? All that is swept away. He can be more than a mere billionaire. He can make the world the way it should be, directly, without the slow, imperfect process of buying politicians and funding think tanks.
And, of course, he will be one of the ones to rise to the top. He’s a billionaire. The cream of the crop. He didn’t just luck into his wealth through family or ~~gambling~~ investing. His inherent greatness placed him at the top, and it will obviously do it again when society collapses.
So does Steve Spez Huffman. Fuck him and his stupid fucking teeth.
There are more like him who will probably survive whatever comes in the first months. I pity the survivors who have to deal with their bullshit.
Jail ≠ prison, this just means he's going to have a worse time waiting for trial.
This is the best summary I could come up with:
Bankman-Fried had been under house arrest, but prosecutors convinced Judge Lewis A. Kaplan of the Federal District Court in Manhattan that Bankman-Fried had fed documents to the media in order to intimidate a witness in the case.
In June, Bankman-Fried filed a motion to dismiss, hoping that some of those charges would be dropped.
But Kaplan decided that his arguments in the motion were "either moot or without merit,” CNN reported.
In that report, Bankman-Fried shared private writings of Caroline Ellison, a former FTX executive and former girlfriend to Bankman-Fried who has pled guilty and is currently cooperating with law enforcement in their investigation of the cryptocurrency exchange, the Times reported.
The court found that Bankman-Fried tampered with witnesses at least twice, Reuters reported.
According to The New York Times, "The Times, the Reporters Committee for the Freedom of the Press, and a documentarian making a film" about Bankman-Fried "each submitted court filings raising First Amendment concerns about the gag order."
I'm a bot and I'm open source!
I somehow skimmed this as Sam Altman for a brief moment.
That's next month
Sorry, I seem to be out of the loop, who’s that and what did they do?
Sam Altman is the CEO of OpenAI. I imagine it has to do with the lawsuit over stolen data, but that's not a criminal case
Username checked out.
Sam Bankman-Is-Fried
“I’d like to request that jail be delayed, pending the outcome of my other request.”
Wow. That’s some circular shit. No wonder they said no.
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