Once again, the two-tiered justice system reared it’s ugly head. Sam Bankman-Fried, the Bernie Madoff of cryptocurrency got only about 20% of so of the jail time he faced and a fraction of the fee he could have faced if he were anyone else (as a Republican).. Bankman-Fried faced as much as 110 years in jail, but got only 25 years. Typical once again of the so called “justice system” in this country.
‘I have new baby son and older and have spoken to tens of thousands of victims like myself who have had their dreams destroyed,’ victim Sunii Kavuri said. ‘My house, the money I wanted to spend on a family home was taken away as well as my children’s education.’
Kavuri said he disputed the idea that FTX customers would get all their money back. Judge Kaplan agreed and said that would be ‘incorrect’.
‘All the creditors continue to suffer, not only monetary loss, but emotional and mental distress,’ Kavuri said.
‘People are on medication, recovering, mental health issues, depression and sadly at least three people I’ve heard of have committed suicide as a result of this FTX fraud.’
The judge, in his opening remarks, quickly dismissed the idea that Bankman-Fried deserves a lighter sentence because FTX customers didn’t lose anything in the fraud.
‘The defendant’s argument hinges on what amounts to an assumption that customers of FTX are going to be made whole in the bankruptcy,’ the judge said.
‘Even if that were true they would not be entitled to a reduction of the loss amount (of sentence). The defendant’s assertion that FTX customers and creditors will be paid in full is misleading