this post was submitted on 07 Nov 2023
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Did he tho? He looks like the fall guy for all the fraud you see happening and he’s not the master mind but rather just a pawn in the game.
The people who are truly responsible for this are still walking.
It’s clear SBF is just a publicity stunt to make sure the poors don’t revolt.
I'm unclear about the Fraud charges.
In a Fraud case, you deliberately set out to take other people's money, illegally, from the offset.
I don't think he did that. I think his intentions were honest but he got too cocky by providing loans and overspending. However, I feel that he thought he was smart enough to make it all back and make good, like Nick Leeson.
I don't think he set out to be a crook. I think he set out to be extremely wealthy, thought he was smarter than he was, then couldn't cope when things started to collapse.
It's different from setting out to craft a scheme to rob people.