[HN Gopher] In an interview, SBF admits involvement in Alameda's...
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In an interview, SBF admits involvement in Alameda's largest uses
of funds
Author : grappler
Score : 30 points
Date : 2022-12-05 21:45 UTC (1 hours ago)
(HTM) web link (www.ft.com)
(TXT) w3m dump (www.ft.com)
| Rzor wrote:
| I'll be incredibly surprised if all this admission-of-guilt-
| galore doesn't get him in _real_ trouble, even if he manages to
| get only a slap on the wrist.
|
| To bypass the Paywall:
| https://12ft.io/https://www.ft.com/content/a1df1d73-9932-4d1...
| nickthegreek wrote:
| I feel like he is 100% in real trouble. But it's mostly been
| admission of being dumb and not of guilt. The full on admission
| of guilt is why they could easily pick up madoff. They just got
| to connect the dots before they can tighten the rope.
| jrochkind1 wrote:
| That this guy is still talking about this stuff in public
| when any lawyer he has is surely telling him not to... he
| must think he's invincible? Or he really doens't realize he's
| done anything wrong? I could believe the second one, because
| I think it's probably true that this is how everyone does
| business, and most people get away with it?
| birdyrooster wrote:
| Affluenza
| ghaff wrote:
| I expect this is a very expensively choreographed
| combination of PR and legal advice.
| chaostheory wrote:
| He's likely already minimized the penalties to the cost of
| doing business with all the political donations he's made.
| no-dr-onboard wrote:
| does this guy not have a lawyer?
| yieldcrv wrote:
| ya know, if the FTX group really had no internal controls or
| documentation that binds the directors to specific behaviors,
| then an embezzlement charge could really be ruled out, same
| with other forms of theft, or securities fraud even. in this
| case, even the assets being traded precluded them from needing
| compliance officers which is one of those areas where "need
| regulation" would fit well.
|
| It's really more like a phishing attack to get people to
| voluntarily wire money to the Alameda bank account presented on
| the website's interface, and they did.
| legolas2412 wrote:
| His parents are stanford law professors.
|
| They also received a 16 million dollar home from FTX.
| no-dr-onboard wrote:
| Ok thanks, but the question still stands.
| sugarpile wrote:
| Multiple lawyers have dropped him.
| nathanvanfleet wrote:
| SBF has said that his lawyers have told him to not talk or
| admit anything.
| nemo44x wrote:
| A lawyer would be a negative towards the defense he's already
| playing which is the "idiot defense". [1]
|
| If he acquired representation it would make him appear to:
|
| 1) be aware that he did something wrong
|
| 2) make his idiotic statements unreliable going forward as a
| lawyer would filter his statements
|
| 3) give the prosecution enough to work with to break his idiot
| defense.
|
| This is all part of his plan to evade accountability and prison
| time.
|
| [1] https://en.m.wikipedia.org/wiki/Idiot_defense
| staunch wrote:
| Many people have been confused about why he's talking so much
| publicly, which is clearly self-destructive if he plans to mount
| a legal defense.
|
| One logical explanation is that this is a prelude to him
| committing suicide. His public interviews and statements may be
| his way of leaving behind some sort of explanation and
| justification.
| trashface wrote:
| He seems to have pathologically high risk tolerance perhaps
| enhanced by some of the medication he uses. So he might think
| he is smart enough to get away before any law enforcement
| agency takes action against him, by relocating out of their
| reach.
| notch656a wrote:
| That's a unique thought I hadn't considered yet. Another may be
| amphetamine(esque) psychosis or narcissism/sociopathy.
| PaulHoule wrote:
| I would point to a general lowering of moral standards and
| the bad example set by Elon Musk's communications about
| Twitter. It's not really a fair comparison (Musk seems
| unlikely to face criminal charges) but I think the psychology
| may be similar.
|
| SBF may be kidding himself about how gullible crypto
| investors are. Maybe he thinks if he could get people to
| believe in FTX tokens, FTX could be solvent again.
| abigail95 wrote:
| Nobody stupid enough to honestly miss an $8B blackhole is smart
| enough to run such disciplined interviews.
|
| I'm surprised anyone is fooled by the fact he just happens to
| remember only the facts that point to the least criminal
| explanation.
|
| What's the chance of that?
|
| He's either coming clean about how he's not a smart as they said
| he was, or he's still playing the game. It's another double down.
| m_ke wrote:
| Recommend listening to coffeezilla questioning him:
| https://www.youtube.com/watch?v=AfmBdKoqq1o
| jmount wrote:
| "Use" in this case means theft. It can't be repeated enough, they
| stole customer funds, and did something with them their self not
| as an agent for the customer (hesitate to say invested). At best
| this is like your stock broker cleaning out your account and
| going to Vegas (and claiming they new how to double "their"
| stake, and were going to give you 10% returns back).
|
| The whole SBF "effective altruism" is just a variation on
| solipsism, the belief not being the only one to exist but the
| only moral actor to exist. That being itself an incredibly
| selfish or non-altruistic position.
| chris_wot wrote:
| The guy is either a conman, or a fool. Either way, he lost a lot
| of money. He's going to have to face the consequences of his
| actions, and he's not going to like it.
| quercusa wrote:
| Embrace the power of 'and'.
| 71a54xd wrote:
| I'm all for the justice system, but if he's given a slap on the
| wrist he lost enough of his customer's money I don't think he'd
| last long... Lesser crypto entrepreneurs who didn't commit
| fraud have been targeted by PMC groups in westernized
| nations...
| notch656a wrote:
| He admitted in an interview that Bahaman entities were
| allowed to withdraw after the other customer's withdrawals
| were frozen because of something to effect of him being
| afraid of being in a country where very angry powerful people
| are out to get you.
| JKCalhoun wrote:
| He seems to want us to believe he's a fool (which makes him a
| conman then).
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