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Re:Former FTX Executive Ryan Salame Sentenced to 90 Months i... by chollida1 on Tuesday May 28, 2024 @04:25PM (#40505216)
> So he got to keep his money and got 1/3 the time compared to SBF who presumably lost everything and got 25 years.

This is false. He agreed to forfeit over $1.5B in assessts. I doubt he has much if anything left at this point.

https://www.coindesk.com/policy/2023/09/07/ex-ftx-executive-...

EDIT

:) Fine

https://downloads.coindesk.com/legal/2023.09.07%20Signed%20M...

Page 2 second paragraph....

Re:Former FTX Executive Ryan Salame Sentenced to 90 Months i... by ohmyiv on Tuesday May 28, 2024 @05:14PM (#40505682)
> He agreed to forfeit over $1.5B in assessts. I doubt he has much if anything left at this point.

Legitimate Source? Your link says that he _could_, multiple times. The article from the Justice Dept in OP says about 11 million.

Edit: Patent edited for a source, but still, Salame didn't pay the full $1.5B, as per parent's article:

> Should Salame pay the $6 million and turn over the various properties by the set deadlines – referred to as the substitute assets – he will be off the hook for the full amount, a DOJ filing said. "Upon receipt of the payment ... the [U.S.] shall accept the Payment and Substitute Assets in full satisfaction of the Money Judgement," the filing said.

So, he _didn't _ actually pay $1.5B. He may have agreed to forfeit it, but he still didn't have to pay that much, which was the point of GP's comment.

Re:Former FTX Executive Ryan Salame Sentenced to 90 Months i... by ohmyiv on Tuesday May 28, 2024 @06:44PM (#40506393)
That judgemental didn't go through as per a quote from the article you posted:

> Should Salame pay the $6 million and turn over the various properties by the set deadlines – referred to as the substitute assets – he will be off the hook for the full amount, a DOJ filing said. "Upon receipt of the payment ... the [U.S.] shall accept the Payment and Substitute Assets in full satisfaction of the Money Judgement," the filing said.

Re:Former FTX Executive Ryan Salame Sentenced to 90 Months i... by paulpauper on Tuesday May 28, 2024 @04:34PM (#40505326)
He agreed to forfeit over $1.5B in assessts

It says "Could " Do people even read the headlines they link to? The DOJ link did not mention giving up everything. It said restitution of millions.

Re:Former FTX Executive Ryan Salame Sentenced to 90 Months i... by hiatus on Tuesday May 28, 2024 @05:17PM (#40505704)
I was confused, too, but that sum is listed in a different DOJ document.

> The defendant hereby admits the forfeiture allegation with respect to Count Two of the Information and agrees to forfeit to the United States, pursuant to Title 18, United States Code, Section 982(a)(1), a sum of money equal to $1,555,186,143 in United States currency, representing property involved in said offense (the "Money Judgment"

https://downloads.coindesk.com/legal/2023.09.07%20Signed%20M...

Re:Former FTX Executive Ryan Salame Sentenced to 90 Months i... by candiddevmike on Tuesday May 28, 2024 @04:34PM (#40505330)
If he can squirrel away a few million, < 1% of the forfeit amount, he's still set for life.

I don't think it's possible for a billionaire to cease being rich.

Re:Former FTX Executive Ryan Salame Sentenced to 90 Months i... by shombaboor on Tuesday May 28, 2024 @04:43PM (#40505406)
there are a number of famous criminals back in the game. Being infamous is invaluable on twitter: jordan belfort, Shkreli, billy mcfarland. Just get a twitter account and sell the movie rights
Re:Former FTX Executive Ryan Salame Sentenced to 90 Months i... by Ajay-p on Tuesday May 28, 2024 @06:28PM (#40506289)
Don't forget the most delusional of grifters: Anna Delvey
Re:Former FTX Executive Ryan Salame Sentenced to 90 Months i... by pfannkuchen on Tuesday May 28, 2024 @05:13PM (#40505670)
After listening to Shkreli talk for a few hours he seems like the sort of person who thought he was just being clever and it turned out to be technically illegal. As opposed to brazen criminality. I wouldn’t feel bad about hiring him (though would do some more digging first).
Re:Former FTX Executive Ryan Salame Sentenced to 90 Months i... by tasuki on Tuesday May 28, 2024 @05:45PM (#40505949)
I think he paid his previous investors with money his later venture earned. This is illegal because it's stealing money from the latter venture investors. But heart in the right place, good intentions, imo.
Re:Former FTX Executive Ryan Salame Sentenced to 90 Months i... by FireBeyond on Tuesday May 28, 2024 @09:49PM (#40507489)
By this logic, Bernie Madoff has his heart in the right place, too.
Re:Former FTX Executive Ryan Salame Sentenced to 90 Months i... by tasuki on Wednesday May 29, 2024 @02:55AM (#40509247)
You're right I didn't phrase that well. The difference is that Bernie did only that, while Shkreli made enough money to pay all his investors...
Re:Former FTX Executive Ryan Salame Sentenced to 90 Months i... by seanhunter on Wednesday May 29, 2024 @02:06PM (#40514898)
Consider the following scenario: you have just been paid $1000 and you go to an ATM. A dude at the atm mugs you. He sees the big deposit that has just hit your account and says "tell you what, I'll only steal $900. Then you'll still be up $100 overall". You should be fine with this right? You still made $100.

It's the same situation here. He took money that was due to one group of people and paid some of it to another group of people. This idea that if people make a net profit then it's basically ok even though he took some of their money is totally unsuported by the law for good reason.

Re:Former FTX Executive Ryan Salame Sentenced to 90 Months i... by shombaboor on Tuesday May 28, 2024 @05:39PM (#40505906)
in the long run it was probably good for his career. Everyone knows who he is. That type of PR/media awarenes/branding is worth a ton.
Re:Former FTX Executive Ryan Salame Sentenced to 90 Months i... by FireBeyond on Tuesday May 28, 2024 @09:48PM (#40507480)
Shkreli is a piece of shit.

This is an example of his character:

A new drug comes before the FDA for approval, and it is opened up for comment. Shkreli lodges an objection to approval of this drug.

Why? Because it's unsafe? No - trials thus far have shown it to be safer than the existing drug options.

Why? Because it's less effective? No - it's also been shown to be more effective than existing drugs.

Perhaps it's more expensive? No - cost of R&D and production, and estimated retail costs are expected to be lower than existing drugs.

Huh, odd. So why in this case would Shkreli oppose this drug getting to the market?

The only reason he lodged an appeal with the FDA had nothing to do with the drug, but was because he and his company had just bought the patent to one of those 'existing drugs' referenced, and this new drug coming to market would crater the demand for his drug, and torpedo the profitability of his investment in buying the patent.

Fuck Martin Shkreli.

Re:Former FTX Executive Ryan Salame Sentenced to 90 Months i... by paulpauper on Tuesday May 28, 2024 @04:40PM (#40505377)
Yes. Even if he loses everything nominally on paper, careers await upon his release. he has the connections still. These people almost always fail-forward.
Re:Former FTX Executive Ryan Salame Sentenced to 90 Months i... by surfingdino on Tuesday May 28, 2024 @05:39PM (#40505909)
He'll start his own YouTube channel and do a round of Lex Friedman, My First Million, The Diary of a CEO, Triggernometry, etc. to promote it, his book, and a course on "How Not to Get Scammed".