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Sam Bankman-Fried is going to jail (arstechnica.com)

submitted 1 year ago by [email protected] to c/[email protected]

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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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[–] [email protected] 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.

[–] [email protected] 10 points 1 year ago (1 children)

Glenn Arcaro was sentenced to 38 months in September 2022

[–] [email protected] 1 points 1 year ago (1 children)

Arcaro was an American co-conspirator, not the CEO

[–] [email protected] 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.

[–] [email protected] 1 points 1 year ago (1 children)

What did he do?

[–] [email protected] 2 points 1 year ago

Bitconnect was a crypto ponzi scheme