Posted on 12/13/2022 3:58:55 AM PST by RandFan
NEW YORK (AP) — The U.S. Securities and Exchange Commission has charged the former CEO of failed cryptocurrency firm FTX with orchestrating a scheme to defraud investors.
An SEC complaint filed Tuesday alleges that Sam Bankman-Fried raised more than $1.8 billion from equity investors since May 2019 by promoting FTX as a safe, responsible platform for trading crypto assets.
The civil complaint says Bankman-Fried diverted customer funds to Alameda Research LLC, his privately-held crypto fund, without telling them. The complaint also says Bankman-Fried commingled FTX customers’ funds at Alameda to make undisclosed venture investments, lavish real estate purchases, and large political donations.
Bankman-Fried was arrested Monday in the Bahamas at the request of the U.S. government, U.S. and Bahamian authorities said.
(Excerpt) Read more at apnews.com ...
“Had a boss that said making a lot of money is not difficult, making it honest and keeping it is a little trickier.”
Truth.
At first, when this story broke, it was reported that no one knew where he was. Well, the FBI was at his Albany condo with him two days prior. At the time, the first thought was, they are there to destroy evidence.
will the ill gotten gains the democrats received be given back to the tax payers?
i do not think so.
Does anyone really think SBF is going to get anything but a slap on the wrist, especially with his pal Gary Gensler running the SEC?
I’m sorry to hear that Fried has committed suicide next Tuesday..
A joint Government Task Force has preemptively found a faulty single engine plane for SFB's extradition flight, with a flight plan that circles around the "Bermuda Triangle" for several hours before landing in Miami.
What took so long? Has someone been prepping the darling of the left all this time? Getting rid of evidence?
Bankman-Fried has to be the front man for someone else or an organization. He comes off as stupid, about as stupid as his name.
He’ll spill the beans to stay out of jail or Hillary will get her on call hitman
“The day before he was supposed to testify before Congress. Can’t risk a major Democrat donor risking perjury, can we?”
NORMALLY, you’d want him to testify, as that would give the government more testimony to work with, and better chances of nailing him for perjury.
BUT isn’t the time here quite convenient for those who have secrets to keep...
You mean the one with the security camers turned off and the guards out to lunch?
Surprised it finally happened....every pol in Washington is owned by Soros, Gates or FTX.
BUT Nicholas Biase is the spokesperson for SDNY!
So that means that from the Coindesk report on November 2, and the MSM slow-walking the entire story until two weeks later, the SDNY, working with the Democrats, had 41 days to build out their cover-up, and only pulled the trigger on the arrest because Sh@b00n Lee was about to pull a Big Stupid and put SBF under oath.
SBF is still going to talk, he'll have to, given he put out a shitton of fill-in-the-blanks info in both the Twitter DM interview and the two other interviews he gave in the interim.
What, to each other? They should all be taking the James Mason walk into the sea!
Barbara Fried is in this ponzi-scheme-to-funnel-millions-to-the-Democrats up to her freaking fugly eyeballs.
They diverted FTX funds with their son to purchase 121M in Bahamian prime, including a $16M grifter's paradise for themselves:
FTX, Sam Bankman-Fried and his parents bought Bahamas real estate worth $121M: report
Is he dead yet?
The House needs to investigate the campaign finance angle.
Yep, the Dem Party financing organization
“safe, responsible platform for trading crypto assets.”
Bwahahahahaha.
Any “investor” who believed that scam deserves what they got.
Fools and their (real) money are soon parted.
It is impossible to “defraud” someone with a crypto platform... Crypto is fundamentally a Fraudulent money laundering operation from top to bottom, every single bit of it.
He’ll wind up just like that bimbo from Theranos fraud, some club fed minimum security prison... Unless of course the organized crime hit men don’t get him first to keep him quiet... Honestly I’m rather shocked this guy hasn’t broken his neck falling in the shower or something already.
They won’t, you think money didn’t flow heavily to both parties you are naive...
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