Bankman-Fried was charged with eight counts ranging from wire fraud to money laundering, and conspiracy to commit fraud on the United States.

Prosecutors are charging Bankman-Fried with:

Conspiracy to Commit Wire Fraud on Customers
Wire Fraud on Customers
Conspiracy to Commit Wire Fraud on Lenders
Wire Fraud on Lenders
Conspiracy to Commit Commodities Fraud
Conspiracy to Commit Securities Fraud
Conspiracy to Commit Money Laundering
Conspiracy to Defraud the United States and Violate Campaign Finance Laws

https://www.breitbart.com/poli...ied-bail-in-bahamas/

Bankman-Fried’s attorney reportedly asked for his client to be let out on bail, as Bankman-Fried “suffered from depression, insomnia, and ADD [Attention Deficit Disorder] for over a decade.”

When people are found to have received stolen property it's normally seized and returned to the rightful owners. Don't political campaigns normally have money left over in their coffers? Shouldn't that money be returned voluntarily or otherwise and given back to the victims of this fraud?

quote:

Originally posted by Skull Leader:
When people are found to have received stolen property it's normally seized and returned to the rightful owners. Don't political campaigns normally have money left over in their coffers? Shouldn't that money be returned voluntarily or otherwise and given back to the victims of this fraud?

This is to give them time to manufacture the receipts showing they already spent it. wink/wink/nudge/nudge

Poor Stupid Boy Fraudster.

In addition to the collapse of his kleptocurrency firm, the loss of his personal wealth, his girlfriend concurrently collapsed his “hedge fund,” his ADD is acting up because his supply of Adderall, cocaine, and meth was interrupted, contributing to his worsening depression over the lack of vegan meals in jail.

Someone serve him lard with a side order of leather belt and rawhide shoelaces. Provide paper and a crayon too.

https://hotair.com/ed-morrisse...-in-ftx-scam-n517713

As of Tuesday, no charges have been filed against Caroline Ellison, the reported ex-girlfriend of Bankman-Fried who he appointed to lead Alameda Research.

However, Ellison has retained the services of Stephanie Avakian, a partner at the law firm of WilmerHale. Avakian has deep experience in legal issues related to the financial sector, as she was previously the director of the Securities and Exchange Commission’s Division of Enforcement.

At present, Avakian leads WilmerHale’s Securities and Financial Services Department and has worked to counsel and defend publicly-traded companies, corporate boards, investment banks, and individual executives involved with government investigations.

Fox Business’ Charles Gasparino noted on Twitter that Ellison’s choice of an attorney from WilmerHale has fueled speculation that “she will cooperate” with prosecutors and turn on Bankman-Fried given the firm’s connections to the federal prosecutor’s office in Manhattan and its reputation for securing plea deals.

The Department of Justice promised in their unveiling of the indictment against Bankman-Fried that more indictments will emerge. “Clearly, we are not done,” US Attorney Damian Williams declared at the presser yesterday. It still raises questions about why the DoJ dropped this massive indictment against Bankman-Fried and the FTX-Alameda scam without also indicting the other half of that partnership at the same time. If the FTX-Alameda case will “go down as one of the biggest frauds in American history,” as Williams also promised, then the top of the other half of that scheme should be just as legally liable for it.

Given that, Ellison may only be able to mitigate her risk. Bankman-Fried may have given prosecutors plenty of ammunition to convict him with his own words without Ellison’s cooperation. This may be more a project to limit Ellison’s prison time rather than get immunity — and it seems pretty unlikely that the DoJ could let Ellison off the hook on a scam of this depth and breadth.

I heard somewhere that SBF broke up with Ellison and she turned him in so she is probably cutting a deal.

Ben Shapiro has an interesting take on Stupid Boy Fraudster on his Rumble account. The first few minutes are funny.

Also, Stupid Boy Fraudster used Quickbooks for their “accounting system.”

This entire debacle may be nothing more than a total fraud (it is kleptocurrency after all) with literally nothing behind the ugly mug and his concubine.

Not up to date on the latest. But I saw somewhere that conviction was around 115 years in prison.

quote:

Originally posted by myrottiety:
Not up to date on the latest. But I saw somewhere that conviction was around 115 years in prison.

If sentenced consecutively.

He’ll likely get around 10 years.

That's what Elizabeth Holms just got, so that would make sense.

quote:

Originally posted by Sig2340:

quote:

Originally posted by myrottiety:
Not up to date on the latest. But I saw somewhere that conviction was around 115 years in prison.

If sentenced consecutively.

He’ll likely get around 10 years.

https://www.cnbc.com/2022/12/1...potential-fraud.html

FTX insider turned on Sam Bankman-Fried days before bankruptcy, flagging potential fraud to regulators

Days before FTX’s bankruptcy filing last month, co-CEO Ryan Salame told Bahamian authorities that founder Sam Bankman-Fried may have committed fraud by sending customer money from the crypto exchange to his other firm, Alameda Research.

According to a filing on Wednesday tied to FTX’s bankruptcy proceedings, Salame disclosed “possible mishandling of clients’ assets” by Bankman-Fried. The letter included in the filing was dated Nov. 9, and was sent from the Securities Commission of the Bahamas to the commissioner of police. FTX declared bankruptcy on Nov. 11.

The disclosure on Wednesday marks the first public acknowledgment of an insider turning on Bankman-Fried, who was arrested in the Bahamas on Monday after the U.S. Attorney for the Southern District of New York shared a sealed indictment with the Bahamian government. The indictment, unsealed on Tuesday, charged Bankman-Fried with eight criminal counts related to fraud, money laundering and improper use of customer funds.

Salame told regulators that only three individuals at FTX — Bankman-Fried, Nishad Singh and Gary Wang — had the kind of access and authority to engineer the possibly fraudulent transfers to Alameda, a hedge fund and trading firm. Commissioners understood Salame to have said the fund movements and commingling allegedly authorized by Bankman-Fried were contrary to “normal corporate governance” practices.”

Salame’s LinkedIn profile says he’s based in the Bahamas. He also has multiple residences in the U.S., with homes in Massachusetts, Washington, D.C., and New Jersey. He had departed the Bahamas for the U.S. by Nov. 9, according to the letter.

Like Bankman-Fried, Salame was a significant political donor, donating $20 million to Republican causes.

https://rokfin.com/post/109744
The Network Behind FTX - Connecting the Dots - 3 weeks before SBF Arrest. Whitney Webb/Michael Krieger/Marty Bent

https://unlimitedhangout.com
Whitney Webb - Unlimited Hangout - Epstein and beyond

I found Whitney's Pod cast site while sleuthing away and now am a huge fan of her investigation of Epstein and FTX.
I had watched a Glenn Beck interview of Whitney on Epstein and am still gobbling it up.

The FTX Pod cast is prior to Sam's arrest so keep that in mind but as you stick your toe into the Effective Altruism (EA) waters you will find it chilling.

ATTN: Attorneys. How come John Ray the new CEO of FTX is getting 1300 dollars per hour with a 200 grand retainer?? I know he worked on Enron etc. Is the work that difficult and specialized? Taxpayers sadly seem to be stuck with the bill.

Guess who else 'worked' on Enron...Andrew Weissmann!

I kind of doubt it. It will likely come out off the top of the liquidation value of the company.

quote:

Originally posted by ZSMICHAEL:
ATTN: Attorneys. How come John Ray the new CEO of FTX is getting 1300 dollars per hour with a 200 grand retainer?? I know he worked on Enron etc. Is the work that difficult and specialized? Taxpayers sadly seem to be stuck with the bill .

quote:

Originally posted by ZSMICHAEL:
ATTN: Attorneys. How come John Ray the new CEO of FTX is getting 1300 dollars per hour with a 200 grand retainer?? I know he worked on Enron etc. Is the work that difficult and specialized? Taxpayers sadly seem to be stuck with the bill.

IANAL but that kind of knowledge and experience don’t come cheap, assuming you want the best people doing the work.

Also, if you take a job as a CEO of a company that's in bankruptcy and likely to be liquidated, you know you'll be out of a job sooner rather than later. So this guy is a "temp" CEO.

quote:

Originally posted by Sig2340:

quote:

Originally posted by ZSMICHAEL:
ATTN: Attorneys. How come John Ray the new CEO of FTX is getting 1300 dollars per hour with a 200 grand retainer?? I know he worked on Enron etc. Is the work that difficult and specialized? Taxpayers sadly seem to be stuck with the bill.

IANAL but that kind of knowledge and experience don’t come cheap, assuming you want the best people doing the work.

quote:

I kind of doubt it. It will likely come out off the top of the liquidation value of the company.

^^^^^^^^^^^^^^^^^
Unless some of the Dems give back the political contributions there is likely to be little left. Perhaps liquidation of real estate? Also, if SBF is broke who is paying his legal fees? His parents are already claiming insolvency.

I am confused as to why SBF is fighting extradition. It does not sound like bail is gonna happen. The hellhole he is going to appears worse than anything in the US.
If he is extradited will he be looked up in NYC correctional center? That place is unlikely to offer vegan meals and concierge services. He must be getting questionable legal advice. Anyone care to comment???