Bankrupt crypto exchange FTX says it will be able to repay creditors full $11bn https://www.theguardian.com/business/article/2024/may/08/bankrupt-crypto-exchange-ftx-says-it-will-be-able-to-repay-creditors?CMP=share_btn_url
During his trial he tried to argue that the expected repayment of all depositors should be a mitigating factor in his sentencing. If Ray had not intervened and frozen the company’s accounts, Bankman-Fried claimed, the company would have been able to trade its way out of the liquidity problems it faced at the time.
Judge Lewis Kaplan “rejected entirely” the claim, calling it “misleading, logically flawed and speculative”.
Kaplan added: “A thief who takes his loot to Las Vegas and successfully bets the stolen money isn’t entitled to a reduction of his sentence.”
I wonder how much the investors will pay for anxiety, pain and good fate. Crazy these kinds of crimes are somewhat sickeningly celebrated…My readers, what do you call a thief but a thief…?
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