Hello friends, finally after so much legal process late yesterday, Thursday, November 2, Sam Bankman Fried was declared guilty by the judge of all the charges against him and now he will have to remain in his beautiful cell at the Brooklyn Federal Prison until March of next year when the judge in the case finally announces the sentence.
To give you an idea, there are seven charges and each one carries a maximum penalty that ranges from 5 to 20 years in prison. So he could spend between 35 and 140 years, most likely for the rest of his life, his Attorneys say they respect the Jury's decision but are very disappointed with the result. Fred maintains his innocence and will continue to vigorously fight the charges against him.
For his part, prosecutor Damian Williams described Fried as the biggest financial fraud in the history of the United States and the author of a multi-million dollar scheme designed to make him the King of cryptocurrencies and as if 140 years in prison were not enough, he still faces the possibility of another criminal trial for March 11 are five counts of bribery conspiracy, Conspiracy to operate an unlicensed wire business, bank fraud conspiracy along with derivatives and securities fraud however long we believe it may be a great case to show the rest of the bad actors in the industry that we are becoming more and more trustworthy, safer and more transparent and that if they do things wrong they will end up like Fried.
Of course, the hackers and small scam projects that make rook PS every day will continue to exist and will probably be very difficult to detect who the authors are, but here we are talking about truly large projects that are really capable of shaking the market and especially their trust The idea is that from now on giants like binance coinbase and the like will not fall into the same misfortune and I hope it works.
Meanwhile, the cryptocurrency community could not be happier because a day that was long awaited for everyone has finally arrived with the news of Sam Barkman's sentence and now we have to continue waiting a few months to hear the final sentence. How many years Fried will get we still don't know but it will be a long stint behind bars.
At the end of each day, more and more tokens come out into the ring and it could be said that of every 100 tokens that come out, 85 are usually scams and only 15 are real projects but they are difficult to get in time to make an early investment, which is why many small Investors usually invest at random which results in two options: lose their money or hit the jackpot. So be careful when investing in new tokens as there is a high percentage of losing everything.
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This is an interesting post that you have shared.
Irrespective of what happens, the judge decision must be respected
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