was he convicted of defrauding his creditors, or defauding his investors? How much money did they get back?
In a bankruptcy, creditors get paid BEFORE investors.
No one was financially injured.
“... or defauding his investors? How much money did they get back?”
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That was my question.
It’s always about saving the ‘banks’. Little guy be damned.
In late 2023, FTX proposed a customer property settlement that would return more than 90% of customer funds that were on deposit on the day FTX declared bankruptcy.
Keep in mind that the collapse of FTX was caused by the collapse of Bitcoin value in 2022.
Bitcoin value fell from $64,000 to $16,000 in 2022.
FTX had massive withdrawals.
Exactly like a bank panic that destroys a completely healthy bank.