SBF Likely To Get Lighter Sentence If Arrested, Predicts XRP Lawyer – Crypto News – Crypto News
Connect with us
sbf ftx ripple sbf ftx ripple

Business

SBF Likely To Get Lighter Sentence If Arrested, Predicts XRP Lawyer – Crypto News

Published

3 years ago

on

Sam Bankman-Fried (SBF) led the FTX crash has caused a heavy dent in the digital asset market. As the FTX contagion is on a spread, the crypto community and leaders have called out watchdogs for letting SBF free till now. However, the XRP lawyer 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 lawsuit asserted that the FTX and BlockFi deal was also fraudulentt. SBF made it a condition that funds to be held on FTX while he lend it out to his other company without permission. This directly constitutes theft.

This process was repeatedly done by SBF which establishes an intent. He misappropriated those funds to loan Alameda. However, he used the same funds for further acquisitions and political donations.

SBF used customer funds to buy real estate worth over $100 million in his parents’ names. While the XRP lawyer claims that the BlockFi deal alone provides US jurisdiction and specific intent to jail SBF. However, BlockFi is likely to file for bankruptcy,

Will FTX’s Ex-CEO will face jail?

Deaton highlighted that the only legitimate debate here regarding SBF jail is whether it should happen now or after a few weeks. This will be decided after acquiring more specific evidence. However, several experts have suggested that there is a lot of evidence to jail SBF now.

XRP lawyer dropped the hint that these actions against SBF will bring all the lobbied people to the table in order to cut a deal with the US Criminal Division.

However, If SBF ever faced the prosecution then don’t be surprised to see the final verdict. The ex-FTX CEO can get a lighter sentence than others.

Coingape reported that the Turkish government has seized FTX’s assets in its country. While they are pressing charges against SBF and others with crimes including money laundering, market manipulation and fraud.

Ashish believes in Decentralization and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

The content presented may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending