this post was submitted on 14 Aug 2023
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Sam Bankman-Fried is going to jail (arstechnica.com)
submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world
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Sam Bankman-Fried is going to jail::Judge also denied SBF's request to delay jail time.

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[–] rockSlayer@lemmy.world 28 points 1 year ago (2 children)

That was his real crime. He stole rich people money. Where's the CEO of bitconnect? Not in jail, I can tell you that.

[–] TheBat@lemmy.world 10 points 1 year ago (1 children)

Glenn Arcaro was sentenced to 38 months in September 2022

[–] rockSlayer@lemmy.world 1 points 1 year ago (1 children)

Arcaro was an American co-conspirator, not the CEO

[–] TheBat@lemmy.world 1 points 1 year ago

AFAIK the CEO was not in America when BitConnect scam got exposed. He was in India and managed to disappear. If found, he faces 70 years in prison. Arcaro was the second in command. That's better than nothing.

[–] SwallowsDick@lemmy.world 1 points 1 year ago (1 children)

What did he do?

[–] rockSlayer@lemmy.world 2 points 1 year ago

Bitconnect was a crypto ponzi scheme