SBF-Denies Improper use of Customer Funds in a 1 on 1 Interview

[BitDane]

ABC News anchor George Stephanopoulos had a 1 on 1 interview with Sam Bankman-Fried.   In this 10+ minute long video, the anchor asks SBF if he new about the FTX deposit are being used to pay off Alameda creditors.  It took a while for SBF to answer and deny that he knew about the improper use of customer fund.

Here is the original video from ABC news : https://abcnews.go.com/GMA/News/video/ftx-founder-sam-bankman-fried-denies-improper-customer-94268098

Here is the Time Stamped Commentary video[1] done by The Altcoin Daily channel

Timestamps:[1]
0:00 - Did SBF know about the stolen FTX user funds?
1:49 - SBF on FTX's collapse: "I wasn't even trying."
2:27 - SBF pretending to be ignorant?
3:17 - Bernie Madoff/Ponzi level fraud?
4:11 - Did SBF know user funds were being stolen?
4:44 - It takes SBF 5+ minutes to answer.
9:38 - DO NOT BE FOOLED! (SBF is dumb like a fox)
10:15 - SBF on losing his entire personal net worth
11:08 - Do you believe him?


In this interview it is obvious that SBF is hiding the truth.  Another note taking is that he admit that he did not take his position seriously that leads to FTX bankruptcy.  


[1] https://www.youtube.com/watch?v=tR-3h-gagjs

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[Poker Player]

What he may say has the same credibility as that of some of the scum that swarm the forum and some of those in cahoots with him: in other words, none.

I already commented it some time ago in another thread: I remember seeing in an interview a psychiatrist saying that very rarely people who commit crimes admit they have done something wrong. In other words, the one who rapes a 9 year old girl justifies it by saying that she "provoked him", and things like that.

That's why I'm not surprised that now this asshole comes out saying that he hasn't done anything wrong. The only thing I hope is that he spends many years in jail.

[hugeblack]

Is it possible that he has not been charged with a criminal offense yet? With all these cases of wasting clients' money, bankrupting the organization, I thought he would be imprisoned, or at least he would be banned from traveling, or he would try to hide from public appearances.

The strangest question is, is it possible for anyone to believe him? Especially since most of the tweets at that time were denying the rumors that the platform was in a bad financial position.

[EarnOnVictor]

This is normal, what do you expect him to say? Of course, he can't label himself a criminal, or do you believe someone that has not been tried by a court of competence to be preaching guilt? BSF is certainly guilty as far as the documentaries I watched about him are concerned, there are many possible charges that would be filed against home when the time comes.

What you referred to is just an interview, and I know he would say what his lawyer(s) advised him to say. However, his innocence remains paramount unless a court decides otherwise. So, let's give investigators a chance to do their job as we seatback and watch.

[hopenotlate]

Is it possible that he has not been charged with a criminal offense yet? With all these cases of wasting clients' money, bankrupting the organization, I thought he would be imprisoned, or at least he would be banned from traveling, or he would try to hide from public appearances.

The strangest question is, is it possible for anyone to believe him? Especially since most of the tweets at that time were denying the rumors that the platform was in a bad financial position.

Problem is this SBF and his fraud gang is in fifth position of mega-donors for the 2022 midterms USA elections, we are talking about almost 40 millions USD according to a Washington Post analysis of Federal Election Commission data (financing both parties candidates aligned with his philanthropic vision of so-called "effective altruism"   )so they definitely  had gained some friends among the people who matter.

And this situation sucks even worse, if possible, if you compare it to the one of that Tornado Cash developer who has been qarrested in the Netherlands and seems like Dutch authorities decision was the result of a direct request by the US authorities because they consider ( particularly their OFAC - Office of Foreign Assets Control) Tornado Cash as an enabler for transactions between terrorists and criminals.
If this is the case then they should also arrest whoever invented the internet because many criminals use it.

[bittraffic]

It's a wonder how this guy still wasn't handcuffed. But he actually can get away with all that he did through the help of his parents and the politicians he bought. And the media is not just representing him like he is a misunderstood philanthropist but also wants the people to think that he has no intention of scamming. It wasn't premeditated.

If he isn't someone with well-connected parents, SBF would have been in jail already and could end up dead by suicide.

[hyudien]

Is it possible that he has not been charged with a criminal offense yet? With all these cases of wasting clients' money, bankrupting the organization, I thought he would be imprisoned, or at least he would be banned from traveling, or he would try to hide from public appearances.

Supposedly with the evidence that already exists and the things that incriminate him to be imprisoned until now there is no news of his actions. Even if we trace deeper into SBF being one of the US political donors, is it possible that some kind of fund has entered the political space so that he is truly immune from punishment. The fate of the victims whose funds were not compensated should have become valid proof that SBF must be punished to the fullest extent. What is it about US legal policy that acts more slowly. There are always suspicions that should be questioned.

[Die_empty]

In this interview it is obvious that SBF is hiding the truth.  Another note taking is that he admit that he did not take his position seriously that leads to FTX bankruptcy.  

Sam Bankman-Fried can afford to hire some of the best lawyers in the world. I am sure he has even hired some of his defense team that would give him the best legal advice and service. Anything he says in this interview can be used against him in the court, that's why he needs to be very careful. I am sure all his statements would be based on the legal advice he has received. Therefore don't expect Sam to speak the truth because he needs to protect himself. But the truth is that he mismanaged people's funds and used them for some incriminating activities. I am sure he would not escape sanctions, if his donation beneficiaries in government doesn't influence his trial.     

[Lucius]

I definitely recommend that you watch this video, because if it wasn't clear to you until now why everything failed, when you see Bankman talking about some things, it becomes clear to you that he actually has no idea what he's talking about, or maybe someone just wanted him to look like a victim of some other people within his company who abused their powers.

At one point you feel sorry for him and maybe send him a donation, because he has nothing more than $100 000 left. My free advice for him, let him buy 5 BTC and become a long-term holder, and with the rest of the money let him rent a small apartment and get a job at McDonald's - of course if mommy and daddy manage to buy him freedom.

[target]

He already has legal counsel who will ensure him free. A question answerable by Yes or No took a long turn, just beating around the bush.  
He's prepared to face court and it's the court that isn't prepared for him. He's got a ton of backer who are more powerful than the judges and victims.

[Fortify]

ABC News anchor George Stephanopoulos had a 1 on 1 interview with Sam Bankman-Fried.   In this 10+ minute long video, the anchor asks SBF if he new about the FTX deposit are being used to pay off Alameda creditors.  It took a while for SBF to answer and deny that he knew about the improper use of customer fund.

Here is the original video from ABC news : https://abcnews.go.com/GMA/News/video/ftx-founder-sam-bankman-fried-denies-improper-customer-94268098

Here is the Time Stamped Commentary video[1] done by The Altcoin Daily channel


In this interview it is obvious that SBF is hiding the truth.  Another note taking is that he admit that he did not take his position seriously that leads to FTX bankruptcy.  

Anything he is saying right now is simply an effort to try and stave off any criminal actions against him, which are likely going to evolve at some point. "Dumb like a fox"? Is a strange expression, as they are usually animals described as sly or intelligent. You have to discount anything he says really, because he is the person ultimately responsible and the way he treated the company was downright criminally irresponsible. He was responsible for a lack of customer funds separation and part of the problem was the side business that was manipulating trades that actually benefited his personal wealth. It feels like the administrator is about to uncover a heck of a lot of bad business practice that has landed FTX where it ended up.

[eaLiTy]

Is it possible that he has not been charged with a criminal offense yet? With all these cases of wasting clients' money, bankrupting the organization, I thought he would be imprisoned, or at least he would be banned from traveling, or he would try to hide from public appearances.

When you have parents who has connections at the top, you might get away with things like this. His mother Barbara Fried has connection to the democratic party and having fundraising organization that caters to the party and his dad Joseph Bankman who had connection with top executives where he was able to source funds easily for his son and his political connection and when you have those combinations none of the media will not chastise him and might get away with frauds like these .

[gantez]

He already has legal counsel who will ensure him free. A question answerable by Yes or No took a long turn, just beating around the bush.  
He's prepared to face court and it's the court that isn't prepared for him. He's got a ton of backer who are more powerful than the judges and victims.

Except the judges will be corrupt and turn judgement to his favour. If the court will do the right thing, it should not go his favour. SMF has a first responsibility to take care of customer money and protect it as the CEO of FTZ but the money is use for paying of some unfound debt which is wrong. For the many reasons that he can present with his lawyers but he did not protect the money in his watch.

[BitDane]

Is it possible that he has not been charged with a criminal offense yet? With all these cases of wasting clients' money, bankrupting the organization, I thought he would be imprisoned, or at least he would be banned from traveling, or he would try to hide from public appearances.

When you have parents who has connections at the top, you might get away with things like this. His mother Barbara Fried has connection to the democratic party and having fundraising organization that caters to the party and his dad Joseph Bankman who had connection with top executives where he was able to source funds easily for his son and his political connection and when you have those combinations none of the media will not chastise him and might get away with frauds like these .

Not only parents, SBF already gain favor of lots of influential politician due to his political donations.  We might see someone being pinned on this case, and it looks like she is the girlfriend of SBF and CEO of Alameda.  I feel sorry for this lady because I think it is all SBF's plan or someone powerful that is working behind the scene and the girl is just a figurehead of the company without any authority at all.

[gunhell16]

I watched that interview with Sam Bankman-Fried in the NYT, and while I was watching the interview with him, I was annoyed at his answers to the questions he asked, he was lying, he was doing it with his hands washed and using the NTY he was showing it he is a clean person.

He emphasizes that he is not at fault and has nothing to do with the incident, which is very impossible for you, the Founder, to know nothing about what is going on in FTX, that is a big joke, then he goes on to say that his funds in the bank were just tight, but you will see bought expensive houses and land and others worth billions of dollars. There are so many holes that no matter what he refuses, his stench will evaporate.

[Gyfts]

This interview is literally only done so he can ease public pressure on federal authorities to indict him on charges related to fraud.

In essence, usually for criminal charges to be levied (criminal charges meaning the penalty being prison), SBF would have had to engaged in conduct where he knowingly created a risk of fraudulent activity and disregarded that risk. Even if he did not facilitate fraudulent transactions or sign them off, he would still be liable if he was at all aware of them.

SBF is taking the negligence angle here, in which he might concede that he should have been aware of the misconduct that was going on at FTX, but that he was not actually aware of such misconduct, thus subjecting him only to civil liability. Civil liability means fines, not prison time.

Keep in mind, every statement SBF gives is under careful advisement of an expensive legal team. This interview wasn't done so he could come clean to the public, it's strictly done to ease pressure the feds might have to indict him by the public. Theoretically, any country that had user funds stolen could levy charges against him, but they don't have jurisdiction. If SBF were to step foot in any of these countries, they could arrest him on the spot.

[hugeblack]

Supposedly with the evidence that already exists and the things that incriminate him to be imprisoned until now there is no news of his actions. Even if we trace deeper into SBF being one of the US political donors, is it possible that some kind of fund has entered the political space so that he is truly immune from punishment. The fate of the victims whose funds were not compensated should have become valid proof that SBF must be punished to the fullest extent. What is it about US legal policy that acts more slowly. There are always suspicions that should be questioned.

I do not know about that, but if the court issues a decision, he will certainly be arrested. It seems that everything that is happening now is a platform that has gone bankrupt, not deceiving users and stealing their money, so no charges have been filed, but what baffles me is that he is still in the United States and making press statements.

In general, all these statements will be used against him in the future, and let's see what happens.

[mindrust]

He did a little fuck up there and another here but he didn’t steal from his customers and bribed the democrats nooo \s

There is only one way to deal with this kind of people. We all know it but we are afraid to say it.

A punch right in the face.

The sad thing is he is never going to get it.

[davis196]

I'm surprised that SBF didn't run away to some obscure Latin American, African or Asian country in order to escape from the justice.
I kinda respect him for the decision to stay and admit his guilt(partially), but he is most likely a sociopath and a pathological liar.
A sociopath might say "I'm sorry, it's my fault." multiple times, but that doesn't mean that he feels any regret or remorse.
Sociopaths are really manipulative and they lie all the time. It will be quite interesting to see what kind of lies SBF will come up with.

[Lucius]

I'm surprised that SBF didn't run away to some obscure Latin American, African or Asian country in order to escape from the justice.

That would be a stupid move, because with that he would practically admit that he is guilty, and considering that he has influential friends, it is better for him to stay where he is and try to pretend that he didn't know what was really happening. Besides, do you think that a character like this who lives in luxury all his life can spend the rest of his life hiding somewhere far away from the public eye?

The fact that he is still outside the prison bars speaks volumes about his status, currently untouchable...