Re:Sam Bankman-Fried sentenced to 25 years in prison
by liendolucas on Thursday March 28, 2024 @02:19PM
(#39855451)
> These two cases are so widely different that you can't really compare them except at a superficial level, ie they were both fraud, and that's about where the similarities end.
I have to disagree on that. Mostly because the order of magnitude of both scams is the same (billions) and both destroyed how many lives?
And sure, maybe FTX victims will get 100% back, but when? How long until you see that money back?
Partially in that SBF's victims will get "100%" back, based on the USD value of their holdings at the time.
Madoff victims, especially the wealthily got a large haircut on their holdings and clawbacks on money they had taken out as far as 5 years back from sentencing.
Also Maddoff's fraud went on for 15+ years, SBF's was maybe a year to 18 months at the most?
These two cases are so widely different that you can't really compare them except at a superficial level, ie they were both fraud, and that's about where the similarities end.