Posted on 01/12/2023 1:01:00 PM PST by nickcarraway
Sam Bankman-Fried said he did not steal money and blamed the collapse of his now-bankrupt FTX exchange on a broad crash in cryptocurrency markets, in a highly unusual blog post on Thursday (Jan 12), a month after his arrest on United States fraud charges.
Federal prosecutors in Manhattan last month said Bankman-Fried stole billions of dollars from FTX customers to pay debts for his crypto-focused hedge fund, Alameda Research, purchase lavish real estate, and donate to US political campaigns.
SNIP
"I didn't steal funds, and I certainly didn't stash billions away," Bankman-Fried wrote in the blog published on Substack, in a rare public statement by a US criminal defendant.
(Excerpt) Read more at channelnewsasia.com ...
HE ‘BORROWED’ THEM...................😜
Is he denying based on the truth, or is he in denial?
neither did Jon Corzine ...
Let us look at this rationally -
IF I “owned” a bank and you deposited money in my bank and I took some of that money and donated it to a politician without notifying you (the shareholder/deposit holder) would that not constitute “theft”?
“Chaos”
He seems unwilling or unable to grasp the fact that he was a supposed fiduciary for his customers’ deposits.
The point of an exchange is to allow customers to make easier trades and other market plays. The exchange is allowed to charge reasonable fees for those transactions. It is not allowed to take customer deposits and make its own plays.
SBF was taking customer funds and replacing them with his own made-up coin, the equivalent of a worthless IOU.
If we are using semantics, then maybe he would acknowledge that he ‘misappropriated’ funds.
He’s making statements in blog posts? I bet his attorney loves that.
If it was a Republican they would have put him under a gag order
I think he’s somewhat getting set up. He seems kind of retarded to me...
Joe Biden: “If you get these vaccines, you won’t get sick.”
SBF: “I didn’t steal funds.”
I’m seeing a pattern. Oh, that’s it! They’re ALL lying sacks of sh*t.
Shut up and get ready to spend time in jail.
The rules are different for Pubbies.
Nixon learned this the hard way.
Don’t get One Guy started on that Dark Lord of the Sith.
No, he simply sold crypto currency that did not exist. So technically, he stole from the investors.
He just inadvertently misplaced them!
And Nixon was closer to being a Democrat, than a Republican.
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