What's the difference between Bernie Madoff and Sam Bankman-Fried?
20 years for one count of securities fraud20 years for one count of false filings with the Securities and Exchange CommissionFive years for one count of false statementsTo provide some perspective, the longest sentences for recent financial fraud include, in order:A tie for fifth place between Charles Lewis, Eduardo Masferrer, Chalana McFarland and Lance Poulsen, who received 30-year sentences.
If and/or when the time comes, SBF may be remembered by a similar numeric value instead of a cheeky three-letter moniker . Time will tell. Remember, Madoff pleaded guilty and still received 150 years, eventually dying while in custody.Stop giving your hard-earned money and Bitcoin to “trusted” third parties. Whether or not SBF spends a day in prison, or multiple lifetimes, the future of SBF means nothing to Bitcoin maximalists.
There were and continue to be many lessons to be learned when examining the greed, lack of empathy and overall corruption humans have witnessed throughout history; and as events of this magnitude unfold, at the heart of every failure is trust — or a lack thereof.
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