The post Sam Bankman-Fried’s Complex Strategy: Jail Break, Redemption, GOP Alliance appeared first on Coinpedia Fintech News

Sam Bankman-Fried, the former shining star of the crypto industry and a renowned liberal philanthropist, is going through what is easily the most difficult time of his life following the collapse of FTX. As things worsen for him, it has been revealed that the criminal has a comeback plan that sounds a lot like a plot of a Hollywood movie. His strategy is a mix of desperation, hope, and a kind of unexpected shift towards the GOP.

Bankman-Fried appears to be rethinking his previously-held beliefs and reputation. Known for his support of left-leaning causes, he’s now boldly opposing the “woke agenda” and has been criticizing the team managing the bankruptcy of FTX. These strategies were outlined in a detailed memo that was recently released by the United States government. The desperate strategies show us a man who is ready to try anything to make things right and perhaps even start over.

But first, he needs to get out of jail. Initially, it was slated to happen about six years from now. However, government officials are now asking for a sentence of 40 to 50 years, saying that this would serve as both a warning and a chance for Bankman-Fried to return to society, hopefully reformed finally. The DOJ keeps saying that he is a lot like Bernie Madoff, the con artist who operated the largest Ponzi scheme in history.

Another thing that stands out in the memo is the huge $11 billion penalty fee the DOJ has thrown against him. The document outlines a man whose actions have had profound and devastating effects on so many innocent people. It shows how he gave illegal money to politicians, tried to pay Chinese officials, committed banking fraud, and tried to shift blame and stop the justice system from working.  While not all these crimes were legally charged due to extradition technicalities, the memo did emphasize their gravity regardless.

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Filed under: Bitcoin - @ March 16, 2024 7:10 am