Major crypto exchange FTX is about to collapse

[Dan Druff]

Caroline Ellison's plea agreement: https://www.documentcloud.org/docume...ss-on-the-case

As already mentioned, she faces "up to" 110 years in prison. However, she won't get anywhere near that. Clearly her lawyers negotiated something before she flew in to New York to face the music, which was contingent upon her cooperation in the case against SBF.

The plea agreement itself requires her to basically give up all documents and everything she knows about crimes committed.

Factoring in her cooperation, her lack of criminal history, and her female gender, and it's not going to be too stiff of a sentence. I'm guessing they give her something like 10 years, with the goal being to lock SBF away for life.

[Small_Banana]

Caroline Ellison's plea agreement: https://www.documentcloud.org/docume...ss-on-the-case

As already mentioned, she faces "up to" 110 years in prison. However, she won't get anywhere near that. Clearly her lawyers negotiated something before she flew in to New York to face the music, which was contingent upon her cooperation in the case against SBF.

The plea agreement itself requires her to basically give up all documents and everything she knows about crimes committed.

Factoring in her cooperation, her lack of criminal history, and her female gender, and it's not going to be too stiff of a sentence. I'm guessing they give her something like 10 years, with the goal being to lock SBF away for life.

I had a friend who got into trouble with financial crimes. They threatened him with 20 different counts of violations and a penalty of 5 years for each count. He did a plea deal and they dropped 19 counts and he got 5 years. The Feds like to scare people with those big numbers. Caroline is a first time offender, I would bet she gets 5 years.

[Dan Druff]

Caroline will benefit in sentencing from the fact that she's very innocent and non-threatening looking. She's a young, homely, stereotypical female nerd whom you'd picture was a social outcast her entire life. It will be easy for her lawyers to paint her as a dorky, naive young girl who got manipulated by SBF into going along with his grand plans to improve the world, and didn't fully realize the extent of what she was doing. They'll also state that she quickly came to New York and spilled her guts, once she realized how bad everything really was.

She doesn't have the "evil bitch" looks or demeanor at all. Quite the opposite.

The judge might have a hard time looking at her and seeing a serious criminal. So you're right, she may get something like 5 years.

[Entropy]

Confirmed rigged, this case is moving way too fast, they want this case swept under the rug asap. My prediction is all involved will get less time than Elizabeth Holmes and they'll get to keep a significant portion of the stolen loot ie unable to locate.

Worse case SBF will have to wait for a pardon from Biden or whoever wins in 2024.

Who is the prosecutor?
Andre Damian Williams Jr (born 1980)[1] is an American lawyer who is the United States Attorney for the Southern District of New York. He is the first African-American U.S. attorney for the Southern District of New York.[2]

Williams was born in Brooklyn, New York City and raised in the Atlanta metropolitan area, the son of Jamaican immigrants.[3] His parents are divorced.[2] He attended Woodward Academy for high school where he was student body president in his final year.[2] He received a Bachelor of Arts in economics from Harvard University in 2002 and a Master of Philosophy in international relations from the Emmanuel College, Cambridge in 2003. Afterward, Williams worked for John Kerry's 2004 presidential campaign in Cedar Rapids, Iowa, and South Carolina and as a "body man" for the chairman of the Democratic National Committee, Terry McAuliffe.[2] He then enrolled at Yale Law School. Following his first year of law school, Williams clerked for the office of United States Attorney for the Southern District of New York. He obtained a Juris Doctor from Yale in 2007,[4] where he was supported by The Paul & Daisy Soros Fellowships for New Americans and was also an editor of the Yale Law Journal.[5] One of his essays about improving voting rights after Hurricane Katrina was published in the Yale Law Journal in 2007.[2][6]

Career
Williams began his legal career as a law clerk to Judge Merrick Garland of the United States Court of Appeals for the District of Columbia Circuit from 2007 to 2008. He then served as a law clerk for Justice John Paul Stevens of the United States Supreme Court from 2008 to 2009. From 2009 to 2012, he was a litigation associate at Paul, Weiss, Rifkind, Wharton & Garrison. From 2012 to 2021, he served as an assistant United States attorney in the United States Attorney's Office for the Southern District of New York. In the role, he served as a chief of the securities and commodities fraud task force from 2018 to 2021.[4]"

He was the 'Bodyman" for a slimeball like Terry McCaullife lololol
Also
The above law firm was where SBF's first attorney was from, it's a small world.

[Tellafriend]

Caroline will benefit in sentencing from the fact that she's very innocent and non-threatening looking. She's a young, homely, stereotypical female nerd whom you'd picture was a social outcast her entire life. It will be easy for her lawyers to paint her as a dorky, naive young girl who got manipulated by SBF into going along with his grand plans to improve the world, and didn't fully realize the extent of what she was doing. They'll also state that she quickly came to New York and spilled her guts, once she realized how bad everything really was.

She doesn't have the "evil bitch" looks or demeanor at all. Quite the opposite.

The judge might have a hard time looking at her and seeing a serious criminal. So you're right, she may get something like 5 years.

they have her dead to wrong already. she should do nearly as much time, though she won't. don't think they really need her testimony, but are making their jobs easier to spike the football on sbf. justice isn't for everyone.

[Kalam]

In this instance I think Entropy's intuitions are correct. The goal isn't to get justice for anyone. The goal is to make this all go away, without any heat falling on the Democrat elites who SBF was embezzling stolen money to. This "case" and eventual "trial" is going to be mostly Kabuki theatre. And I think most people are overestimating how much actual jail time will actually be served by the suspects.

[Sanlmar]

Fried is freed on bail. $250m and passport.

[Daniel72]

[Small_Banana]

Fried is freed on bail. $250m and passport.

The government wants him to violate his bail. Free monies for them.

[Small_Banana]

Fried is freed on bail. $250m and passport.

Embedded Tweet

https://twitter.com/renato_mariotti/status/1606003624450002944

[Entropy]

Fried is freed on bail. $250m and passport.

The government wants him to violate his bail. Free monies for them.

Wrong! I'm pretty sure the judge and SBF would prefer to keep the funds in their community.

And remember this is not money from FTX or SBF, SBF was down to his last $100k.
Where's it from then? Don't worry about it.

[Dan Druff]

Whole things sends a really bad message -- that the super-rich can steal $10 billion and get out on bail posted by a family member (with no cash required), and the poor are stuck in jail because they can't raise bail for some minor crime.

I'm not for cashless bail for a variety of reasons, but this is really a bad look. While bail is not supposed to be punitive, it is supposed to deter flight, and a strong case can be made that SBF would be a flight risk, especially since he might have crypto socked away somewhere and can bribe his way out of the country, and then live out the rest of his life in a place where they can't extradite him. The fact that his parents put up a lien for his bail shouldn't mean much. He could easily fuck them over, or perhaps even reimburse them on the back end.

I agree that Caroline and that Wang guy weren't flight risks, because they voluntarily came to the US to make a deal. SBF did not come voluntarily. He's also the ringleader. This is someone who should not have been granted bail.

[FRANKRIZZO]

SBF posted 250 mill bail living with mom

[TheXFactor]

Nice. The SEC has just declared "crypto tokens" = "securities".

Embedded Tweet

https://twitter.com/twt/status/1605773370439700483

[Dan Druff]

Embedded Tweet

https://twitter.com/TheRealMattSmif/status/1606053330613981185

[TheXFactor]

Embedded Tweet

https://twitter.com/twt/status/1606009413822599168

[sonatine]

Embedded Tweet

https://twitter.com/WatcherGuru/status/1605996232593223681

[Dan Druff]

SEC release on Caroline Ellison and Gary Wang: https://www.sec.gov/news/press-release/2022-234

[Small_Banana]

SEC release on Caroline Ellison and Gary Wang: https://www.sec.gov/news/press-release/2022-234

I am convinced Caroline was behind it. She manipulated him with blowjobs and threesomes.

[devidee]