SBF Likely to Get a Lighter Sentence if Arrested, Predicts XRP Attorney
The FTX crash, which was led by Sam Bankman-Fried (SBF), has caused a severe impact on the digital asset market. The FTX contagion has spread rapidly and crypto leaders and community leaders have criticized watchdogs for letting SBF go unassisted. The XRP lawyer, however, dropped his predictions about SBF’s possible arrest.
SBF’s FTX BlockFi deal was a fraud
John Deaton, XRP holders lawyer in the SEC vs Ripple litigation asserted that the FTX/BlockFi deal was also fraudulent. SBF made it a condition for funds to be held on FTX, while he lends it out to another company without permission. This directly amounts to theft.
SBF repeated this process, which establishes an intention. He used the funds to loan Alameda. He used the same funds to purchase more items and make political donations.
SBF used customer funds for the purchase of real estate worth more than $100 million in his parents’ names. XRP lawyer claims that only the BlockFi deal provides U.S. jurisdiction. BlockFi is likely, however, to file for bankruptcy.
Will FTX’s ExCEO face jail time?
Deaton stated that there is no legitimate debate about whether SBF jail should be established immediately or after a few weeks. After obtaining more evidence, this will be decided. Experts have indicated that there is enough evidence to imprison SBF right now.
XRP lawyer dropped the hint to suggest that these actions against SBF will bring together all the lobbied persons to the table in an effort to make a deal with US Criminal Division.
SBF could still face the prosecution, so don’t be surprised if the verdict is handed down. An ex-FTX CEO may be able to get a lighter sentence.
Coingape reported that FTX’s assets were taken by the Turkish government. They are pursuing charges against SBF, as well as others, for crimes such money laundering and market manipulation.
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