Posted on 12/15/2022 9:48:35 AM PST by Oldeconomybuyer
A top-ranking FTX executive last month flipped on Sam Bankman-Fried and his allies by tipping off Bahamian regulators about alleged malfeasance — two days before the doomed crypto platform filed for bankruptcy, according to court filings.
Ryan Salame, who served as co-CEO of FTX Digital Markets prior to its collapse, tipped off officials on Nov. 9 that FTX client funds were being secretly transferred to “cover financial losses” at Alameda Research — the sister cryptocurrency hedge fund also owned by Bankman-Fried.
The 29-year-old Salame told regulators that only three FTX executives had the authority required to approve the cash transfers — Bankman-Fried, FTX co-founder Gary Wang and former director of engineering Nishad Singh.
During a conference call with the executive director of the Bahamas’ Securities Commission, Salame said that “such transfers were not allowed and therefore may constitute misappropriation, theft, fraud or some other crime,” the filings said, according to Bloomberg.
Salame’s tip — which followed a bank run at FTX as panicked customers demanded the return of their crypto deposits — prompted a scramble among Bahamian authorities to investigate potential wrongdoing at FTX.
Like Bankman-Fried, Salame used his FTX fortune as a major political donor during the 2022 midterm election race. While Bankman-Fried was the second-largest donor to Democratic candidates and causes, Salame contributed $20 million toward Republicans.
The court filings showed that Bankman-Fried had apologized to the Bahamas’ attorney general, Ryan Pinder, on Nov. 9 for his “delayed responses.” His father, law professor Joseph Bankman, was reportedly CC’ed on the email message.
(Excerpt) Read more at nypost.com ...
One SBF’s non-binary, bicurious, androgene love circle?
What kind of last name is Salame?
“No more of this baloney,” Salame said.
Sounds like a Fried Salame sandwich.
That 29 year old smartassed punk with a good gimmick deserves every bit of hell he gets in the local prison where he’s at and then some. He thought he was too smart to lost, too smart to think his buying off of multiple DEMOCRATIC politicians would aid and abet his theft. He’s a shifty-eyed liar who thinks, “At the end of the day, I needed supervision and oversight” is gonna get him off. His little Harry Potter ugly girlfriend needs to be in the same boat.
There’s talk his ugly stick ex-girlfriend flipped, too.
This guy’s screwed...
Did they play Hide The Salame?..................
the DOJ’s Salame is bigger than SBF’s Salame
There are a lot of people who aren’t going to hang themselves.
Headline: Crypto Wonderkid SBF Killed in Local Bahamanian Prison Fight.
If that happens, you'll know its all part of the plan.
None of this matters. Even his unfortunate looking ex-girlfried Caroline is apparently turning on him.
But remember the same idiots at Justice who investigated Russia are handling this.
Prediction: Biden will pardon a big Dem donor like SBF. It is all Kabuki theater, like Waters’ house hearing.
If you watched it, not a single mention of SBF donations to Democrats or how SBF was laundering money for Ukraine. Just idiots like Brad Sherman demonizing Republicans.
One day after Election Day.
Nothing to see here. Move on.
I don’t really care. That punk ruined thousands of lives because he thought he could. Neither he, nor his GF cared.
To me, he’s nothing but an Elizabeth Holmes, Bernie Madoff, or Billy McFarland. They all thought they were too smart to get caught and punished.
I had to look that one up. Very small potatoes compared to Bernie and Sam..
Yet, the same kind of DAMAGE caused to thousands of people, IMO.
I’m waiting to see if mom and pop toss Sammy under the bus…
I read many times that Salame gave $2 Million to Republicans, not $20 Million.
“Executive?” Talk about redefining English words . . .
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