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The FTX founder is currently held in the Bahamas, pending extradition to the United States, which reports say he will resist in a Bahamian court. He was scheduled to testify to Congress on Monday, but his arrest took that off the table. Bankman-Fried chose to headquarter FTX in the Bahamas — to great fanfare — and was staying there at the time of his arrest.
Sam Bankman-Fried’s ex spotted in NYC as rumors of her flipping on him swirl
By Isabel Keane
December 14, 2022
It only took 'em a few weeks to finally arrest him!
Imagine if this dude had spoken out against graphic sex books in a school board meeting or prayed outside an abortion clinic instead of embezzling billions to fund his League of Legends habit and his oceanside sex mansion.
I bet the FBI would have been over him in SECONDS! ...
Meanwhile, over in Congress where hearings on SBF's company FTX are getting underway, Democrat Maxine Waters (who is leading the investigation) tried to undermine the investigation into the company:
@greg_price11
Lmfao Rep. Maxine Waters tried to end the FTX hearing before Rep. @Lancegooden got a chance to question the witnesses, who had to remind her that all the members of a committee are entitled to questions.
He's back in his parents' house, only a couple of miles from me.
When your mommy & dad are professors at Stanford, the U.S. criminal justice system applies differently to you. For example, as Matthew Russell Lee of Inner City Press explained, the precedent set by Samuel Bankman-Fried’s faux $250M “bail” is simple & disastrous: if you’re 1) rich and have 2) committed crimes and 3) expect to be indicted, get out of the CONUS. If you stay out of the CONUS, you can use waiving your extradition rights as a bargaining chip for being granted bail — even if you swindled your customers out of billions. We’re sure Ghislaine Maxwell wishes she would have ditched New Hampshire for an offshore hideaway before her arrest, as conditions in the MCC were less than desirable for the Israel-linked espionage queen. ...
Disgraced former crypto billionaire Sam Bankman-Fried developed deep ties with regulators he wanted to oversee the crypto industry, emails reportedly show.
Bankman-Fried hired multiple former regulators at the Commodities Futures Trading Commission (CFTC) to staff his legal team at FTX, his Bahamas-based crypto exchange. They helped him develop relationships with top CFTC officials and other regulators, according to the LA Times.
He's out on $250 million bond.
He doesn't think he will be Epsteined.
Alameda Research borrowed billions of dollars of customer funds from FTX exchange.
The firm's liabilities were then masked under a pseudonym account on FTX.
Caroline Ellison and Gary Wang have pleaded guilty to numerous counts of fraud. ...
A lawsuit filed by the Commodity Futures Trading Commission on December 13 states that Bankman-Fried directed FTX executives to move Alameda's approximately $8 billion in liabilities to an unknown customer account on FTX's systems.
The lawsuit also claimed that Bankman-Fried would later refer to that account as "our Korean friend's account" and/or "the weird Korean account."
US Probes How $372 Million Vanished in Hack After FTX Bankruptcy
DOJ tracking hacker, frozen assets stolen from FTX: source
Assets were siphoned from FTX when it filed for bankruptcy
From Bloomberg:
FTX founder Sam Bankman-Fried asked a judge to keep confidential the identities of two people who will help secure his bail to protect them from public scrutiny and potential harassment.
Lawyers for Bankman-Fried on Tuesday filed a letter seeking redactions of the names of the two people who intend to sign on as sureties to his $250 million bail package, saying there is no need for public disclosure.
Bankman-Fried has been accused of some pretty staggering financial crimes. It stands to reason that we should be at least a little bit aware of who's putting up these staggering sums of money to keep him out of lockup, right?
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Some questions: will US taxpayers money or Fed fraud money be used to bail these idiots out? Why were regulated entities like pension funds and insurance companies 'investing' in this crap in the fist place?