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Sam BANkMan freid...crypTo billiOnAire L.O.S.E.R.
Mr. Jones Offline
#1 Posted:
Joined: 06-12-2005
Posts: 17,728
Gonz Boo hoo! d'oh!

This curly haired goofy prick is a marked man...
He will not see 2023...

Some pissed off "used to be a millionaire/
Billionaire" is gonna "off" this douche bag...

They'LL HIRE AN UNDOCUMENTED "GUAT" HITMAN from central America for $3-4 million...

My guess it it will be a consortium H.I.T. with those TWO TWIN FACEBOOK LOSERS FROM HARVARD? YALE? OR PRINCETON? WHO ZUCKERBERG SCREWED WILL BE THE BIG MONEY $$ BACKERS TO THIS UNFORTUNATE ACCIDENTAL DEATH OF "MR.I GOT THREE NAMES" CRYPTO FALLGUY...

When you play with the big boyzzzz...

You take risks that normal peons can't even imagine...but in this league...you pay to play...just look at that BERNIE MADOFF Jewish ponzi scheme A-holes family whom are all dead including him...his ex-wife and co-conspirator is living like a pauper now..

YOU SCREW MILLIONAIRES AND BILLIONAIRES...
GUESS WHAT...

YOU DIE...
DrMaddVibe Offline
#2 Posted:
Joined: 10-21-2000
Posts: 53,422
LOLOLOL!!!!

Crypto got broke the old way.

Goofy lil oddball with the gangly girlfriend with the big mouth...come on down!

https://www.zerohedge.com/political/ftx-founder-sam-bankman-fried-faces-trip-questioning-us


Wonder if he's going out like Matt Bevilaqua?

https://youtu.be/cJYfyzYufes

Matt didn't twitch a lot in his seat though.
DrMaddVibe Offline
#3 Posted:
Joined: 10-21-2000
Posts: 53,422
Mr. Jones wrote:
YOU SCREW MILLIONAIRES AND BILLIONAIRES...
GUESS WHAT...

YOU DIE...


You just might be on to something there Mr. Jones.

https://nypost.com/2022/11/09/drowning-death-of-crypto-visionary-fuels-conspiracy-theories/
RayR Offline
#4 Posted:
Joined: 07-20-2020
Posts: 6,756
DrMaddVibe wrote:
You just might be on to something there Mr. Jones.

https://nypost.com/2022/11/09/drowning-death-of-crypto-visionary-fuels-conspiracy-theories/


Ya, but doesn't everybody go swimming with their wallet in their pocket? Think
ZRX1200 Online
#5 Posted:
Joined: 07-08-2007
Posts: 58,389
Jonsie, you might want to review the dudes political contributions.

He’s ok. He fundraiser for the team that has propaganda and bureaucracy on their side.
Mr. Jones Offline
#6 Posted:
Joined: 06-12-2005
Posts: 17,728
Isn't "S.B.F." ....I'S GOTS TREE NAMES dead yet?

🤯🤯🤯🦎🦎🦎😵😵😵🤕🤕🤕☠️☠️☠️💀💀💀👇👇👇
HockeyDad Offline
#7 Posted:
Joined: 09-20-2000
Posts: 44,606
Didn’t we used to have a crypto expert here?

I haven’t quite figured out how bad FTX is.
izonfire Offline
#8 Posted:
Joined: 12-09-2013
Posts: 8,513
HockeyDad wrote:
Didn’t we used to have a crypto expert here?

We did, but the value of his posts were greatly misrepresented…

HockeyDad wrote:
I haven’t quite figured out how bad FTX is.

Might be a great time to invest…
DrMaddVibe Offline
#9 Posted:
Joined: 10-21-2000
Posts: 53,422
HockeyDad wrote:
Didn’t we used to have a crypto expert here?

I haven’t quite figured out how bad FTX is.


We used to have a Covid expert and now we have an EV expert.

Weird.
Mr. Jones Offline
#10 Posted:
Joined: 06-12-2005
Posts: 17,728
We also have two new state experts...🗣️🗣️🗣️

One in Florida🌴🌴🌴
&
One in Texas 🏜️🏜️🏜️ almost? ( didn't arrive yet, but keeps saying he's going)🤥🤥🤥

BWUHAHAHAHA!!! J/k

😂🤣😂🤣🤦🤦🤦🚛🚛🚛
HockeyDad Offline
#11 Posted:
Joined: 09-20-2000
Posts: 44,606
Who else is moving to Texas?
Mr. Jones Offline
#12 Posted:
Joined: 06-12-2005
Posts: 17,728
Y.O.U.

R

alleDgeDleY
MACS Offline
#13 Posted:
Joined: 02-26-2004
Posts: 76,930
DrMaddVibe wrote:
We used to have a Covid expert and now we have an EV expert. Weird.


Still waiting for the covid expert to return and apologize for being a lying, virtue-signaling d-bag.

I have to give Brewha credit, though... he was one of the covid shot proponents and told me I wanted to kill Grandma and that I should be locked up for not taking the shot and he's still here subject to the justified ridicule. Bravo, Brewha... bravo. =d>

Sure hope the myocarditis doesn't get'cha.

- signed

Still ain't got the stupid shot!
HockeyDad Offline
#14 Posted:
Joined: 09-20-2000
Posts: 44,606
Mr. Jones wrote:
Y.O.U.

R

alleDgeDleY



I’ve been in Texas for two weeks. I left a $100 scratch-off in a trash can at a Buc-ees.
DrMaddVibe Offline
#15 Posted:
Joined: 10-21-2000
Posts: 53,422
MACS wrote:
Still waiting for the covid expert to return and apologize for being a lying, virtue-signaling d-bag.

I have to give Brewha credit, though... he was one of the covid shot proponents and told me I wanted to kill Grandma and that I should be locked up for not taking the shot and he's still here subject to the justified ridicule. Bravo, Brewha... bravo. =d>

Sure hope the myocarditis doesn't get'cha.

- signed

Still ain't got the stupid shot!


He's not. Oh well. Come or go...whatever. Pretending like the way he did with Covid and Brewha (and a slew of others!) being his toadie...now he's shifted gears hoping you forgot all those stories and he's the lead on EV's...just parroting what they hear around the water cooler. You can find better information with a cursory search on the interwebs than any post that either have written on their preferred topics. The icing on the cake is when you post it up...they STFU and have NOTHING to come back with. NOTHING. Then there's the sidebar toe dipping team players that just wanna play team ball but they don't know what they're talking about either and refuse to even admit that what you ever posted was better than the other team had. Wanting to act all intelligent, but you have to be able to learn and that's the crux. Relatives and great teachers I've had along the way both told me early on to keep on learning and that I should learn something new every day. I try, but I'll be damned if I'm going to profess some expertise I don't have and peddle off like I'm some subject matter or designer. I keep on posting that I'm more akin to the kid telling the King he's not wearing any clothes...it's a blessing and a curse.

Look, EV's do have their place, but to blow up the entire infrastructure and economy to do it...lunacy. Some real Karl Marx crap that they're falling into and they don't even see it! Nor do they care. This is a grift operation all the way. Toyota...the world's automotive giant is only 30% invested in this. Other companies that deal in it like Tesla (which I'm impressed with until you find out you really don't "own" the car!) have made it their mission to make money doing what they're doing with EV. Like Ethanol...they're still sucking off the subsidy titty that is the American taxpayer. When you want to stand in the shadows of people telling you how to live like JOhnKErry, Soros, Klaus and Manbearpig anyone with enough common sense to fill up a thimble knows they're full of crap. The same for Fauci, the CDC, the NIH and WHO. Liars and thieves. Pushing their toxicity on the populace and the stooges that willingly lapped it up and spread their messaging all got revealed to be what they were all along. I feel bad for the people that lost careers, jobs and family members over their COVID1984 sham. You're "Essential"! You, not so much. You just stay home and flatten the curve. If you don't wear a mask you're going to kill grandma and you better walk down the grocery store aisle the direction the little arrow says..look down at the floor so you won't see the people not wearing a mask shopping the way they were all along, or better yet try to argue with them and pull down your masks to yell! PRICELESS crap we lived with. It was a chemical soup injection Psy Op run to trample all over the Constitution. Remember in Boston where the police stormed into homes searching for some bomber that set off a pressure cooker bomb? House to house, knocking down doors...that too was a Constitutional run over tactic. "Just wanna see if you'll let us get away with it!" like the colonial British soldiers did in the very same town and nothing learned.

"Fool me once, shame on you. Fool me twice, shame on me. Fool me three times, shame on both of us." ― Stephen King

Some people line up for 4, 5 and 6 and never give it up because they're unable to do any heavy lifting on their own. Pitying them is a fool's errand and you're gonna get tired doing it.
DrMaddVibe Offline
#16 Posted:
Joined: 10-21-2000
Posts: 53,422
HockeyDad wrote:
I’ve been in Texas for two weeks. I left a $100 scratch-off in a trash can at a Buc-ees.


When you know...you know.

Try the BBQ sammich.
rfenst Offline
#17 Posted:
Joined: 06-23-2007
Posts: 37,331
Mr. Jones wrote:
Gonz Boo hoo! d'oh!

This curly haired goofy prick is a marked man...
He will not see 2023...

Some pissed off "used to be a millionaire/
Billionaire" is gonna "off" this douche bag...

They'LL HIRE AN UNDOCUMENTED "GUAT" HITMAN from central America for $3-4 million...

My guess it it will be a consortium H.I.T. with those TWO TWIN FACEBOOK LOSERS FROM HARVARD? YALE? OR PRINCETON? WHO ZUCKERBERG SCREWED WILL BE THE BIG MONEY $$ BACKERS TO THIS UNFORTUNATE ACCIDENTAL DEATH OF "MR.I GOT THREE NAMES" CRYPTO FALLGUY...

When you play with the big boyzzzz...

You take risks that normal peons can't even imagine...but in this league...you pay to play...just look at that BERNIE MADOFF Jewish ponzi scheme A-holes family whom are all dead including him...his ex-wife and co-conspirator is living like a pauper now..

YOU SCREW MILLIONAIRES AND BILLIONAIRES...
GUESS WHAT...

YOU DIE...

Bahama homes were purchased with FTX corporate funds

"A new bankruptcy filing, first reported by CNBC, shows that FTX’s corporate funds were used to purchase homes in the Bahamas among other personal items. The details arise less than a week after the now infamous crypto exchange filed for bankruptcy — a decision that founder and former CEO Sam Bankman-Fried said he regrets.

FTX’s new CEO, Enron wind-down veteran John J. Ray III, said in the filing that he never in his career had “seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.”

“From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented,” Ray said in the filing.

The document states that corporate funds of the FTX group were used to purchase homes and other personal items for employees and advisers. Ray added that “certain real estate” was recorded in the personal names of employees and advisrrs, and “there does not appear to be documentation for certain of these transactions as loans.”

The newly installed chief executive makes it clear that he’s not blaming all FTX employees for the potential mishandling of funds. “Although the investigation has only begun and must run its course, it is my view based on the information obtained to date, that many of the employees of the FTX Group, including some of its senior executives, were not aware of the shortfalls or potential commingling digital assets.” If that possible lack of blame extends to the real estate transactions is not clear.

He adds that current and former employees are some of the people most hurt by FTX, and that “these are many of the same people whose work will be necessary to ensure the maximization of value for all stakeholders going forward.”

FTX’s downfall began last week after Binance backed out of a deal to acquire the crypto exchange as a result of a due diligence process. News reports that FTX was mishandling funds and under investigation soon bloomed into the company filing for bankruptcy.

Bankman-Fried, meanwhile, claims that he is still hoping to raise an $8 billion lifeline for the company.

“Everyone goes around pretending that perception reflects reality, it doesn’t,” Bankman-Fried said in a Twitter conversation with Vox reporter Kelsey Piper earlier this week. “Some of this decade’s greatest heroes will never be known, and some of its most beloved people are basically shams.”
rfenst Offline
#18 Posted:
Joined: 06-23-2007
Posts: 37,331
Mr. Jones wrote:
Gonz Boo hoo! d'oh!

This curly haired goofy prick is a marked man...
He will not see 2023...

Some pissed off "used to be a millionaire/
Billionaire" is gonna "off" this douche bag...

They'LL HIRE AN UNDOCUMENTED "GUAT" HITMAN from central America for $3-4 million...

My guess it it will be a consortium H.I.T. with those TWO TWIN FACEBOOK LOSERS FROM HARVARD? YALE? OR PRINCETON? WHO ZUCKERBERG SCREWED WILL BE THE BIG MONEY $$ BACKERS TO THIS UNFORTUNATE ACCIDENTAL DEATH OF "MR.I GOT THREE NAMES" CRYPTO FALLGUY...

When you play with the big boyzzzz...

You take risks that normal peons can't even imagine...but in this league...you pay to play...just look at that BERNIE MADOFF Jewish ponzi scheme A-holes family whom are all dead including him...his ex-wife and co-conspirator is living like a pauper now..

YOU SCREW MILLIONAIRES AND BILLIONAIRES...
GUESS WHAT...

YOU DIE...

New FTX Report Shows Company Funds Being Used to Buy Homes in the Bahamas

"A new bankruptcy filing, first reported by CNBC, shows that FTX’s corporate funds were used to purchase homes in the Bahamas among other personal items. The details arise less than a week after the now infamous crypto exchange filed for bankruptcy — a decision that founder and former CEO Sam Bankman-Fried said he regrets.

FTX’s new CEO, Enron wind-down veteran John J. Ray III, said in the filing that he never in his career had “seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.”

“From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented,” Ray said in the filing.

The document states that corporate funds of the FTX group were used to purchase homes and other personal items for employees and advisers. Ray added that “certain real estate” was recorded in the personal names of employees and advisrrs, and “there does not appear to be documentation for certain of these transactions as loans.”

The newly installed chief executive makes it clear that he’s not blaming all FTX employees for the potential mishandling of funds. “Although the investigation has only begun and must run its course, it is my view based on the information obtained to date, that many of the employees of the FTX Group, including some of its senior executives, were not aware of the shortfalls or potential commingling digital assets.” If that possible lack of blame extends to the real estate transactions is not clear.

He adds that current and former employees are some of the people most hurt by FTX, and that “these are many of the same people whose work will be necessary to ensure the maximization of value for all stakeholders going forward.”

FTX’s downfall began last week after Binance backed out of a deal to acquire the crypto exchange as a result of a due diligence process. News reports that FTX was mishandling funds and under investigation soon bloomed into the company filing for bankruptcy.

Bankman-Fried, meanwhile, claims that he is still hoping to raise an $8 billion lifeline for the company.

“Everyone goes around pretending that perception reflects reality, it doesn’t,” Bankman-Fried said in a Twitter conversation with Vox reporter Kelsey Piper earlier this week. “Some of this decade’s greatest heroes will never be known, and some of its most beloved people are basically shams.”
Mr. Jones Offline
#19 Posted:
Joined: 06-12-2005
Posts: 17,728
Caroline Ellison is a major player in the collapse of FTX...

BRAINIAC DUMBASS WHO IS AT THE CENTER OF THIS CLUSTERF*CK...

THE WONDER CHILD OF TWO IVY LEAGUE GRADUATE
A-HOLES PARENTS THOUGHT THEIR SPAWN WAS A MATHMATIC PRODIGY...AND SHE KNEW ABSOLUTELY NOTHING ABOUT FINANCIAL TRADING or even basic business practice Was givin' a high position at FTX w/0 any real experience in finance...

Hence...

The vunder kindt fuc*Ed up tremendously after having on and off relationship with the curly haired three named prick at the center of this LTX meltdown ...if the 50-100++ millionaires & billiOnAires hire several " undocumented GUAT hitmen" ....they better add her dumb ass name to the list... alleDgeDleY
Mr. Jones Offline
#20 Posted:
Joined: 06-12-2005
Posts: 17,728
The more information and pictures I see of ...

"Caroline Ellison" ???

The more I ponder....
H.O.W. ???

A. Anyone would bang this chick without wearing a blindfold
( and not be charged with underaged sex crimes).

B. Anyone would entrust her to invest BILLIONs of millionaires and billiOnAires monies.

C. Anyone could even believe she knew one eye-owe-taahh about any financial information at all.

D. Anyone could believe she was a "CEO" OF "CFO" OF ANY LEGITIMATE INTERNATIONAL COMPANY IN COMMAND OF BILLIONS OF DOLLARS OF OTHER PEOPLES MONEY...

I MEAN R.E.A.L.L.Y. ???

SHE LOOKS LIKE AN "INBRED KINDERGARTNER FROM APPALACHIA" ..WHAT THE F*CK???
JGKAMIN Offline
#21 Posted:
Joined: 05-08-2011
Posts: 1,015
Mr. Jones wrote:
The more information and pictures I see of ...

"Caroline Ellison" ???

The more I ponder....
H.O.W. ???

A. Anyone would bang this chick without wearing a blindfold
( and not be charged with underaged sex crimes).

B. Anyone would entrust her to invest BILLIONs of millionaires and billiOnAires monies.

C. Anyone could even believe she knew one eye-owe-taahh about any financial information at all.

D. Anyone could believe she was a "CEO" OF "CFO" OF ANY LEGITIMATE INTERNATIONAL COMPANY IN COMMAND OF BILLIONS OF DOLLARS OF OTHER PEOPLES MONEY...

I MEAN R.E.A.L.L.Y. ???

SHE LOOKS LIKE AN "INBRED KINDERGARTNER FROM APPALACHIA" ..WHAT THE F*CK???

You mean she doesn’t look like the prototypical arm candy of a billionaire?
HockeyDad Offline
#22 Posted:
Joined: 09-20-2000
Posts: 44,606
Mr. Jones wrote:


SHE LOOKS LIKE AN "INBRED KINDERGARTNER FROM APPALACHIA" ..WHAT THE F*CK???


She’s from Boston so pretty much the same thing.
Sunoverbeach Offline
#23 Posted:
Joined: 08-11-2017
Posts: 13,837
She puts out. That's the biggest qualifier for billionaire arm candy.



What if phobias are based on ways we died in a past life?
RayR Offline
#24 Posted:
Joined: 07-20-2020
Posts: 6,756
HockeyDad wrote:
She’s from Boston so pretty much the same thing.


You'll have to ask Frankie about that.
DrMaddVibe Offline
#25 Posted:
Joined: 10-21-2000
Posts: 53,422
https://www.zerohedge.com/markets/30-year-old-co-founder-crypto-trading-platform-amber-dies-unexpecteldy-his-sleep

Another one down.
Sunoverbeach Offline
#26 Posted:
Joined: 08-11-2017
Posts: 13,837
If a morgue worker dies, they will have to go back to work one more time
JGKAMIN Offline
#27 Posted:
Joined: 05-08-2011
Posts: 1,015
DrMaddVibe wrote:
https://www.zerohedge.com/markets/30-year-old-co-founder-crypto-trading-platform-amber-dies-unexpecteldy-his-sleep

Another one down.

Only 30 years old and died unexpectedly? Did he know the Clintons?
ZRX1200 Online
#28 Posted:
Joined: 07-08-2007
Posts: 58,389
Wait……people still read Vox????

I wonder why there was no mention of the political contributions?

“Things that make you go LMMFBAO”
~Arsenio
CelticBomber Offline
#29 Posted:
Joined: 05-03-2012
Posts: 6,786
ZRX1200 wrote:
Wait……people still read Vox????

I wonder why there was no mention of the political contributions?

“Things that make you go LMMFBAO”
~Arsenio


He donated to the Republicans and Democrats. He did it through 2 different companies. He donated about 40 million to the Dems and the CEO of one of his other companies donated about 23 million to Republicans.
Mr. Jones Offline
#30 Posted:
Joined: 06-12-2005
Posts: 17,728
That's a $17 million$$$ discrepancy....d.u.d.e


The ELEPHANT PARTY OFF'd his sorry ASS...
RayR Offline
#31 Posted:
Joined: 07-20-2020
Posts: 6,756
The discrepancy is due to the fact that the Republican Party is the SEMI-FASCIST Party and the Democrats are the FULL-FASCIST Party.
DrMaddVibe Offline
#32 Posted:
Joined: 10-21-2000
Posts: 53,422
https://www.msn.com/en-gb/news/newslondon/russian-millionaire-vyacheslav-taran-killed-in-helicopter-crash-near-monaco/ar-AA14H2tT

'Nuther one bites the dust...Whistle
DrMaddVibe Offline
#33 Posted:
Joined: 10-21-2000
Posts: 53,422
How is this guy NOT in jail???


https://www.zerohedge.com/geopolitical/watch-live-sam-bankman-fried-speaks-nytimes-dealbook-summit

The NYT PAYING him to answer some questions. Totally laughable.
ZRX1200 Online
#34 Posted:
Joined: 07-08-2007
Posts: 58,389
Like Bon Jovi sang “we’re halfway there”

Now who’s his mom?
DrMaddVibe Offline
#35 Posted:
Joined: 10-21-2000
Posts: 53,422
ZRX1200 wrote:
Like Bon Jovi sang “we’re halfway there”

Now who’s his mom?



A DNC POS.

https://www.reddit.com/r/CryptoCurrency/comments/ywkie5/sbfs_moms_book_facing_up_to_scarcity_the_logic/

https://dailycaller.com/2022/11/16/sbf-mom-resigns-dem-dark-money/

https://michaelsavage.com/meet-the-sbf-parents/

https://www.olawalekashimawo.co.uk/2022/11/23/sbfs-dad-and-mom-joined-ftx-121m-bahamas-property-splurge-reuters/

They arrested Bernie Maddoff right after finding out about his Ponzi scheme. This guy? Gets a paying speaking gig with the New York Times!

RayR Offline
#36 Posted:
Joined: 07-20-2020
Posts: 6,756
Veddy interesting, Will Cain talks with Jeffrey Tucker, founder, and president of the Brownstone Institute about this crooked crypto mess.

FTX cryptocurrency scandal is just the beginning | Will Cain Podcast

https://youtu.be/C0_pV7KfvmE
DrMaddVibe Offline
#37 Posted:
Joined: 10-21-2000
Posts: 53,422
https://www.zerohedge.com/crypto/sam-bankman-fried-arrested-bahamas-set-prompt-extradition
Sunoverbeach Offline
#38 Posted:
Joined: 08-11-2017
Posts: 13,837
One of the biggest scams in life was your mom sating she won't get angry if you just tell the truth
BuckyB93 Offline
#39 Posted:
Joined: 07-16-2004
Posts: 12,971
DrMaddVibe wrote:
https://www.zerohedge.com/crypto/sam-bankman-fried-arrested-bahamas-set-prompt-extradition


Arrested the day before he was scheduled to testify in Congressional hearings.

Think

Turty NINE!
DrMaddVibe Offline
#40 Posted:
Joined: 10-21-2000
Posts: 53,422
BuckyB93 wrote:
Arrested the day before he was scheduled to testify in Congressional hearings.

Think

Turty NINE!


https://www.revolver.news/2022/11/sam-bankman-fried-ftx-on-steroids-is-cryptocurrency-tether-joe-biden-crypto-bcci/

whip
Stogie1020 Offline
#41 Posted:
Joined: 12-19-2019
Posts: 3,926
BuckyB93 wrote:
Arrested the day before he was scheduled to testify in Congressional hearings.

Think

Turty NINE!


Which means he won't testify publicly, whcih may have been a goal of the timing, since he was so in bed with so many Ds (and to a very small degree, a few Rs).

One has to wonder why the PoPo couldn't have waited 24 hours to arrest him... I mean, they knew exactly where he would be.
DrMaddVibe Offline
#42 Posted:
Joined: 10-21-2000
Posts: 53,422
https://www.zerohedge.com/political/ftx-bankruptcy-puts-73-million-political-donations-risk-clawbacks

Epstein didn't kill himself.
ZRX1200 Online
#43 Posted:
Joined: 07-08-2007
Posts: 58,389
I’m sure this is all coincidental…..

We starting an over under on video camera failures?
MACS Offline
#44 Posted:
Joined: 02-26-2004
Posts: 76,930
If this guy "suicides" himself in jail... I mean, c'mon man, when will people open their fkn eyes??
HockeyDad Offline
#45 Posted:
Joined: 09-20-2000
Posts: 44,606
He should have contacted Mr Jones for help. He needed to vanish.
Stogie1020 Offline
#46 Posted:
Joined: 12-19-2019
Posts: 3,926
Stogie1020 wrote:
Which means he won't testify publicly, whcih may have been a goal of the timing, since he was so in bed with so many Ds (and to a very small degree, a few Rs).

One has to wonder why the PoPo couldn't have waited 24 hours to arrest him... I mean, they knew exactly where he would be.


The other side of this coin is that he may have been planning to fly a private jet to DC for the hearing and the Feds were concerned that his jet might accidentally land in Venezuella (or some other non-extradition treaty country) instead of the U.S.
DrMaddVibe Offline
#47 Posted:
Joined: 10-21-2000
Posts: 53,422
The Biden regime's sense of urgency on matters that well...matter...run about as fast as they did slapping cuffs on this guy.


"Risk Of Flight Too Great" - Bankman-Fried Denied Bail, Remanded To Custody



Following his arrest last night, with its expectations of an imminent deportation, Sam Bankman-Fried told a Bahamian judge at an arraignment Tuesday that he wouldn’t waive his right to an extradition hearing.

A defense lawyer said Bankman-Fried planned to fight being sent to the US.

Counsel for SBF has requested bail be set at $250,000.

Manhattan US Attorney Damian Williams called the case “one of the biggest financial frauds in American history” and said the investigation of the alleged scheme is “very much ongoing.”

Which may explain why presiding judge JoyAnn Ferguson-Pratt denied SBF's bail application, highlighting his "risk of flight" and ordered the crypto executive to be held in custody at the Bahamas Department of Corrections until Feb. 8.

The case has been adjourned to the said date. 

* * *

The US Securities and Exchange Commission said it will file charges against FTX founder Sam Bankman-Fried on Tuesday relating to violations of securities law, accusing him of "orchestrating a scheme to defraud equity investors in FTX" and seeking to ban him from the cryptocurrency industry.

"We allege that Sam Bankman-Fried built a house of cards on a foundation of deception while telling investors that it was one of the safest buildings in crypto," said SEC Chair Gary Gensler

The SEC made the announcement on Monday, shortly after Bahamian authorities arrest Bankman-Fried, the US Attorney's Office Southern District of New York confirmed.

The SEC has charged Bankman-Fried with violating the anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The SEC’s complaint seeks injunctions against future securities law violation that prohibits Bankman-Fried from participating in the issuance, purchase, offer, or sale of any securities except for his own personal account.

Here are some of the wildest accusations from the SEC's 28-page filing:

SBF improperly diverted assets to his privately held crypto hedge fund:

Unbeknownst to those investors (and to FTX’s trading customers), Bankman-Fried was orchestrating a massive, years-long fraud, diverting billions of dollars of the trading platform’s customer funds for his own personal benefit and to help grow his crypto empire.

Throughout this period, Bankman-Fried portrayed himself as a responsible leader of the crypto community. He touted the importance of regulation and accountability. He told the public, including investors, that FTX was both innovative and responsible. Customers around the world believed his lies, and sent billions of dollars to FTX, believing their assets were secure on the FTX trading platform. But from the start, Bankman-Fried improperly diverted customer assets to his privately-held crypto hedge fund, Alameda Research LLC (“Alameda”), and then used those customer funds to make undisclosed venture investments, lavish real estate purchases, and large political donations.

Bankman-Fried then exempted his crypto hedge fund, Alameda, from risk mitigation procedures:

He told investors and prospective investors that FTX had top-notch, sophisticated automated risk measures in place to protect customer assets, that those assets were safe and secure, and that Alameda was just another platform customer with no special privileges. These statements were false and misleading. In truth, Bankman-Fried had exempted Alameda from the risk mitigation measures and had provided Alameda with significant special treatment on the FTX platform, including a virtually unlimited “line of credit” funded by the platform’s customers.

While he spent lavishly on office space and condominiums in The Bahamas, and sank billions of dollars of customer funds into speculative venture investments, Bankman-Fried’s house of cards began to crumble.

Here's how he diverted funds:

Bankman-Fried diverted FTX customer funds to Alameda in essentially two ways: (1) by directing FTX customers to deposit fiat currency (e.g., U.S. Dollars) into bank accounts controlled by Alameda; and (2) by enabling Alameda to draw down from a virtually limitless “line of credit” at FTX, which was funded by FTX customer assets.

As a result, there was no meaningful distinction between FTX customer funds and Alameda’s own funds. Bankman-Fried thus gave Alameda carte blanche to use FTX customer assets for its own trading operations and for whatever other purposes Bankman-Fried saw fit.

SBF had a secret '[email protected] account with a negative $8 billion balance':

Bankman-Fried directed FTX to have customers send funds to North Dimension in an effort to hide the fact that the funds were being sent to an account controlled by Alameda.

Alameda did not segregate these customer funds, but instead commingled them with its other assets, and used them indiscriminately to fund its trading operations and Bankman-Fried’s other ventures.

This multi-billion-dollar liability was reflected in an internal account in the FTX database that was not tied to Alameda but was instead called “[email protected]” Characterizing the amount of customer funds sent to Alameda as an internal FTX account had the effect of concealing Alameda’s liability in FTX’s internal systems.

Here's how '[email protected]' was 'lost' in the shuffle:

In 2022, FTX began trying to separate Alameda’s portion of the liability in the “[email protected]” account from the portion that was attributable to FTX (i.e., to separate out customer deposits sent to Alameda-controlled bank accounts from deposits sent to FTX-controlled bank accounts). Alameda’s portion — which amounted to more than $8 billion in FTX customer assets that had been deposited into Alameda-controlled bank accounts — was initially moved to a different account in the FTX database. 

However, because this change caused FTX’s internal systems to automatically charge Alameda interest on the more than $8 billion liability, Bankman-Fried directed that the Alameda liability be moved to an account that would not be charged interest. This account was associated with an individual that had no apparent connection to Alameda. As a result, this change had the effect of further concealing Alameda’s liability in FTX’s internal systems.

SBF has claimed in interviews he 'wasn't aware' of how illiquid Alameda's collateral had become, yet according to the SEC:

Bankman-Fried was well aware of the impact of Alameda’s positions on FTX’s risk profile. On or about October 12, 2022, for example, Bankman-Fried, in a series of tweets, analyzed the manipulation of a digital asset on an unrelated crypto platform. In explaining what occurred, Bankman-Fried distinguished between an asset’s “current price” and its “fair price,” and recognized that “large positions – especially in illiquid tokens – can have a lot of impact.”

Bankman-Fried asserted that FTX’s risk engine required customers to “fully collateralize a position” when the customer’s position is “large and illiquid enough.” But Bankman-Fried knew, or was reckless in not knowing, that by not mitigating for the impact of large and illiquid tokens posted as collateral by Alameda, FTX was engaging in precisely the same conduct, and creating the same risk, that he was warning against.

SEC charged Bankman-Fried for orchestrating a scheme to defraud equity investors in FTX Trading Ltd. (FTX). The regulatory body noted that the former CEO concealed his "diversion of FTX customers’ funds to crypto trading firm Alameda Research while raising more than $1.8 billion from investors."

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK

Plaintiff: SECURITIES AND ) EXCHANGE COMMISSION,

Defendant: SAMUEL BANKMAN-FRIED Plaintiff Securities and Exchange Commission (the “Commission”), for its complaint against Defendant, Samuel Bankman-Fried (“Bankman-Fried”), alleges as follows:

SUMMARY

1. From at least May 2019 through November 2022, Bankman-Fried engaged in a scheme to defraud equity investors in FTX Trading Ltd. (“FTX”), the crypto asset trading platform of which he was CEO and co-founder, at the same time that he was also defrauding the platform’s customers. Bankman-Fried raised more than $1.8 billion from investors, including U.S. investors, who bought an equity stake in FTX believing that FTX had appropriate controls and risk management measures. Unbeknownst to those investors (and to FTX’s trading customers), Bankman-Fried was orchestrating a massive, years-long fraud, diverting billions of dollars of the trading platform’s customer funds for his own personal benefit and to help grow his crypto empire.

2. Throughout this period, Bankman-Fried portrayed himself as a responsible leader of the crypto community. He touted the importance of regulation and accountability. He told the public, including investors, that FTX was both innovative and responsible. Customers around the world believed his lies, and sent billions of dollars to FTX, believing their assets were secure on the FTX trading platform. But from the start, Bankman-Fried improperly diverted customer assets to his privately-held crypto hedge fund, Alameda Research LLC (“Alameda”), and then used those customer funds to make undisclosed venture investments, lavish real estate purchases, and large political donations.

3. Bankman-Fried hid all of this from FTX’s equity investors, including U.S. investors, from whom he sought to raise billions of dollars in additional funds. He repeatedly cast FTX as an innovative and conservative trailblazer in the crypto markets. He told investors and prospective investors that FTX had top-notch, sophisticated automated risk measures in place to protect customer assets, that those assets were safe and secure, and that Alameda was just another platform customer with no special privileges. These statements were false and misleading. In truth, Bankman-Fried had exempted Alameda from the risk mitigation measures and had provided Alameda with significant special treatment on the FTX platform, including a virtually unlimited “line of credit” funded by the platform’s customers.

4. While he spent lavishly on office space and condominiums in The Bahamas, and sank billions of dollars of customer funds into speculative venture investments, Bankman-Fried’s house of cards began to crumble. When prices of crypto assets plummeted in May 2022, Alameda’s lenders demanded repayment on billions of dollars of loans. Despite the fact that Alameda had, by this point, already taken billions of dollars of FTX customer assets, it was unable to satisfy its loan obligations. Bankman-Fried directed FTX to divert billions more in customer assets to Alameda to ensure that Alameda maintained its lending relationships, and that money could continue to flow in from lenders and other investors.

5. But Bankman-Fried did not stop there. Even as it was increasingly clear that Alameda and FTX could not make customers whole, Bankman-Fried continued to misappropriate FTX customer funds. Through the summer of 2022, he directed hundreds of millions more in FTX customer funds to Alameda, which he then used for additional venture investments and for “loans” to himself and other FTX executives. All the while, he continued to make misleading statements to investors about FTX’s financial condition and risk management. Even in November 2022, faced with billions of dollars in customer withdrawal demands that FTX could not fulfill, Bankman-Fried misled investors from whom he needed money to plug a multi-billion-dollar hole. His brazen, multi-year scheme finally came to an end when FTX, Alameda, and their tangled web of affiliated entities filed for bankruptcy on November 11, 2022.

The first thing to note in the rap sheet is the date, “From at least May 2019 . . .”, by which the SEC means FTX’s entire existence. It was around May 2019 that SBF bought the FTX.com domain and the first fundraising announcement didn’t drop until August of that year.

Additionally SEC Chair Gary Gensler, warned:

"The alleged fraud committed by Mr. Bankman-Fried is a clarion call to crypto platforms that they need to come into compliance with our laws."

Grewal said the charges will be filed publicly “tomorrow” on Dec. 14 at the Southern District of New York.

Read the full complaint below:

https://www.zerohedge.com/crypto/sec-files-separate-charges-against-ftx-ceo-sbf-years-long-fraud


Its almost like they wanted this guy do so more so gave him all the time in the world to do it.

Hope the cameras on his cellblock are good.
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