Sam Bankman-Fried Arrested In The Bahamas, Set For 'Prompt' Extradition After US

[PrimeNumber7]

I've made a poll since this is a contentious topic among the community to gather more thoughts on this topic.

You left out an option -- the DOJ "throws" the case and SBF gets off scot-free.

It makes no sense for the DOJ to arrest SBF before he was going to speak under oath about matters related to his likely crimes, and potentially make admissions of guilt. It appears that FTX had very sloppy recordkeeping procedures, so it may be difficult to prove fraud from FTX's records alone.

[1714253794]

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[1714253794]

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[TwitchySeal]

"Just hours after refusing to attend a Senate hearing on his role in the collapse of FTX, Sam Bankman-Fried has been arrested by The Royal Bahamian Police Force, according to a statement from the Attorney General of The Bahamas Sen. Ryan Pinder KC."

This is false. SBF had agreed to testify before congress and was set to testify hours before his arrest.

The fact that his arrest effectively prevented his testimony makes it appear that corruption in the doj was involved in the timing of his arrest. It appeared that SBF was not taking legal advice from lawyers, and he would likely have incriminated himself while testifying. 

No, it's not false.  He refused to speak to the Senate banking committee.

https://cointelegraph.com/news/sbf-misses-the-senate-hearing-but-promises-to-testify-to-the-house-law-decoded

[PrimeNumber7]

"Just hours after refusing to attend a Senate hearing on his role in the collapse of FTX, Sam Bankman-Fried has been arrested by The Royal Bahamian Police Force, according to a statement from the Attorney General of The Bahamas Sen. Ryan Pinder KC."

This is false. SBF had agreed to testify before congress and was set to testify hours before his arrest.

The fact that his arrest effectively prevented his testimony makes it appear that corruption in the doj was involved in the timing of his arrest. It appeared that SBF was not taking legal advice from lawyers, and he would likely have incriminated himself while testifying. 

No, it's not false.  He refused to speak to the Senate banking committee.

https://cointelegraph.com/news/sbf-misses-the-senate-hearing-but-promises-to-testify-to-the-house-law-decoded

My mistake. Although the detail is a technical one.

SBF missed the deadline to say that he will testify before the senate. He had said that he will testify before the house. He was going to testify before the house hours before he was arrested.

Btw, I think it is likely that SBF didn’t understand how to properly respond to say that he would testify before the senate. There isn’t any reason why he would testify before the house but not the senate. There was testimony that was leaked that SBF was planning on making.

[goldkingcoiner]

If convicted, what could SBF get for vaporizing 10B USD? Perhaps the rest of his life?

Well if you take the history of billionaire criminals into account then he will probably be a free man within weeks or months, even if he were to be convicted lawfully (as he should be). Justice usually fails when bribed.

Worst case scenario for him: he will spend a couple of years in a luxury prison which cannot even be called a real prison, or under "house arrest". He probably has some money hidden away in some obscure accounts/addresses that nobody knows even exist.

He deserves way way worse. He is a thief. A rich thief. All the evidence is there but nobody prosecutes the rich (as long as they are "rich enough")

[TwitchySeal]

"Just hours after refusing to attend a Senate hearing on his role in the collapse of FTX, Sam Bankman-Fried has been arrested by The Royal Bahamian Police Force, according to a statement from the Attorney General of The Bahamas Sen. Ryan Pinder KC."

This is false. SBF had agreed to testify before congress and was set to testify hours before his arrest.

The fact that his arrest effectively prevented his testimony makes it appear that corruption in the doj was involved in the timing of his arrest. It appeared that SBF was not taking legal advice from lawyers, and he would likely have incriminated himself while testifying.  

No, it's not false.  He refused to speak to the Senate banking committee.

https://cointelegraph.com/news/sbf-misses-the-senate-hearing-but-promises-to-testify-to-the-house-law-decoded

My mistake. Although the detail is a technical one.

SBF missed the deadline to say that he will testify before the senate. He had said that he will testify before the house. He was going to testify before the house hours before he was arrested.

Btw, I think it is likely that SBF didn’t understand how to properly respond to say that he would testify before the senate. There isn’t any reason why he would testify before the house but not the senate. There was testimony that was leaked that SBF was planning on making.

Yeah it doesn't really make sense, he definitely wasn't picky about who he was willing to speak with before they took him away.  His lawyers did say that he was "unwilling to accept service of a subpoena" when addressing why he wasn't talking to the Senate, but I don't see why he would care if a subpoena were involved.  Can testifying after being subpoenad expose you to less legal risk than doing it voluntarily?  Either way he's obviously been ignoring his lawyers advice...

[Gyfts]

If convicted, what could SBF get for vaporizing 10B USD? Perhaps the rest of his life?

Well if you take the history of billionaire criminals into account then he will probably be a free man within weeks or months, even if he were to be convicted lawfully (as he should be). Justice usually fails when bribed.

Worst case scenario for him: he will spend a couple of years in a luxury prison which cannot even be called a real prison, or under "house arrest". He probably has some money hidden away in some obscure accounts/addresses that nobody knows even exist.

He deserves way way worse. He is a thief. A rich thief. All the evidence is there but nobody prosecutes the rich (as long as they are "rich enough")

I'm cautiously optimistic. Once the U.S. Dept. of Justice indicts then he has almost sealed his fate. The feds have something like a 95% conviction rate so even with the best lawyers SBF will retain, they can't make bad facts disappear. And it's an unquestionable fact that SBF was oversaw the vaporization of billions in user funds. How his lawyers will try and explain away SBF's role will be up to them, of course.

If he gets convicted he'll be sent to a federal prison, most likely low security as many other white collar criminals. Won't be a hardened max security prison, but it also won't be luxury.

[goldkingcoiner]

If convicted, what could SBF get for vaporizing 10B USD? Perhaps the rest of his life?

Well if you take the history of billionaire criminals into account then he will probably be a free man within weeks or months, even if he were to be convicted lawfully (as he should be). Justice usually fails when bribed.

Worst case scenario for him: he will spend a couple of years in a luxury prison which cannot even be called a real prison, or under "house arrest". He probably has some money hidden away in some obscure accounts/addresses that nobody knows even exist.

He deserves way way worse. He is a thief. A rich thief. All the evidence is there but nobody prosecutes the rich (as long as they are "rich enough")

I'm cautiously optimistic. Once the U.S. Dept. of Justice indicts then he has almost sealed his fate. The feds have something like a 95% conviction rate so even with the best lawyers SBF will retain, they can't make bad facts disappear. And it's an unquestionable fact that SBF was oversaw the vaporization of billions in user funds. How his lawyers will try and explain away SBF's role will be up to them, of course.

If he gets convicted he'll be sent to a federal prison, most likely low security as many other white collar criminals. Won't be a hardened max security prison, but it also won't be luxury.

Only a 95% conviction rate? What happened to that extra 5%? Is that the 5% of the rich that can buy themselves out (from under the table, of course). Sorry but I have absolutely no faith in the justice system anymore. The only reason it seemingly exists is to prosecute the poor. The rich basically have a kind of diplomatic immunity which everybody knows but nobody talks about.

Perhaps the justice system is not only for convicting the poor because they are poor but rather as a way to scare and control the public into doing what they want. Setting an example, basically.

[cmg777]

I've made a poll since this is a contentious topic among the community to gather more thoughts on this topic.

You left out an option -- the DOJ "throws" the case and SBF gets off scot-free.

It makes no sense for the DOJ to arrest SBF before he was going to speak under oath about matters related to his likely crimes, and potentially make admissions of guilt. It appears that FTX had very sloppy recordkeeping procedures, so it may be difficult to prove fraud from FTX's records alone.

Well technically he is in a Bahamas-jail so therefore he is in jail right now. So that is why Option 4 and 6 are the equivalent to what you are saying.


CZ might be going down as well. He hasn't paid tribute to the US politicians as SBF has.

BINANCE WILL FALL NEXT!!! We Have The *PROOF* CZ Will Be ARRESTED SOON!!!!
https://www.youtube.com/watch?v=dD5Xp7zTO68

[o48o]

-cut-
BINANCE WILL FALL NEXT!!! We Have The *PROOF* CZ Will Be ARRESTED SOON!!!!
https://www.youtube.com/watch?v=dD5Xp7zTO68

So chico crypto's proof about this another twitter influencer getting DMs from an unknown account. And those DMs were just vague fud from a guy even the original twitter account.

And this "exchanges are coordinating together" being illegal how exactly? We have known this for years that big exchanges are coordinating amongst themselves in chats where they talk about tracking stolen funds etc. If i recall correctly CZ himself has comfirmed this in a tweet or in an interview. Rest of the video was just basically repeating what has happened and hoping that's enough for the jump of faith to proof.

Involving old bitfinex fud at the end into this with that annoying voice/attitude/mannerism makes me hopes video would just end.

Hate to say but contrary to what the video title claims this is not PROOF.

[cmg777]

-cut-
BINANCE WILL FALL NEXT!!! We Have The *PROOF* CZ Will Be ARRESTED SOON!!!!
https://www.youtube.com/watch?v=dD5Xp7zTO68

So chico crypto's proof about this another twitter influencer getting DMs from an unknown account. And those DMs were just vague fud from a guy even the original twitter account.

And this "exchanges are coordinating together" being illegal how exactly? We have known this for years that big exchanges are coordinating amongst themselves in chats where they talk about tracking stolen funds etc. If i recall correctly CZ himself has comfirmed this in a tweet or in an interview. Rest of the video was just basically repeating what has happened and hoping that's enough for the jump of faith to proof.

Involving old bitfinex fud at the end into this with that annoying voice/attitude/mannerism makes me hopes video would just end.

Hate to say but contrary to what the video title claims this is not PROOF.

So in a way I would hope to agree with you that Binance or Tether won't falter during this crypto cycle. However, the evidence is mounting that they are both illiquid as are so many other exchanges and banks because they all operate as fractional reserve houses of cards.

So here is the biggest conspiracy of all in crypto... So there are small and mid actors that sure have lots of crypto but question was were they ethical and actually care about their community? Just as Wall Street and Hollywood have talking heads of perception enter SBF, CZ and all the rest. I'm thinking the bigs from Wall Street are trying to shake down the small and mid actors in the crypto space so they can control our space as well just like Wall Street and commodities in general. So CZ and SBF were merely actors literally and totally just to make the big Wall Street people look like our saviors when they both crash their own exchanges. Problem (Crypto brings too much freedom we need to control it) Reaction (implement bad actors SBF and CZ) Solution (Come in as the saviors and control it all)

[TwitchySeal]

BINANCE WILL FALL NEXT!!! We Have The *PROOF* CZ Will Be ARRESTED SOON!!!!
https://www.youtube.com/watch?v=dD5Xp7zTO68

I don't see them ever catching CZ if they do decide to file charges.  With essentially unlimited money that no government can seize, I'm not sure if he'd be at risk of being extradited from his home in Singapore, but if he is, I imagine  he has well thought out plan to live a very comfortable life somewhere that won't, like Vietnam.  He's probably there already.  

[cmg777]

BINANCE WILL FALL NEXT!!! We Have The *PROOF* CZ Will Be ARRESTED SOON!!!!
https://www.youtube.com/watch?v=dD5Xp7zTO68

I don't see them ever catching CZ if they do decide to file charges.  With essentially unlimited money that no government can seize, I'm not sure if he'd be at risk of being extradited from his home in Singapore, but if he is, I imagine  he has well thought out plan to live a very comfortable life somewhere that won't, like Vietnam.  He's probably there already.  

You have a point. They never caught Do Kwon. I'd say he was a bigger domino than even SBF. Anyway, I think that CZ is backed by Chinese banks or even underground organizations but might be more leveraged than SBF (which was quite high). Vietnam is definitely a good place to run to because of the cheap cost of living and you can easily blend into a small village.

Back to SBF

SBF Changes Mind On Extradition To US After Four Days In Bahamian Jail
https://www.zerohedge.com/political/sbf-changes-mind-extradition-us-after-five-days-bahamian-jail

[o48o]

So here is the biggest conspiracy of all in crypto... So there are small and mid actors that sure have lots of crypto but question was were they ethical and actually care about their community? Just as Wall Street and Hollywood have talking heads of perception enter SBF, CZ and all the rest. I'm thinking the bigs from Wall Street are trying to shake down the small and mid actors in the crypto space so they can control our space as well just like Wall Street and commodities in general. So CZ and SBF were merely actors literally and totally just to make the big Wall Street people look like our saviors when they both crash their own exchanges. Problem (Crypto brings too much freedom we need to control it) Reaction (implement bad actors SBF and CZ) Solution (Come in as the saviors and control it all)

I think that demanding that they care about their community is too much to ask, and even irrelevant if they care or not. If they are not braking any laws and follow regulations, that's good enough for me. I am assuming that people from wall street want to capitalize on crypto markets, but i don't think that they want to be seen as "rock stars" with fan base like in crypto, we tend to idolize our leaders. But wall street doesn't really make the rules about control, FATF and organisations like it does.

If wall street could choose, they would definitely choose freedom. They just don't see custodial ownership as freedom, as they know they will have to work with regulators. Like the rest of us will in the future.

[PrimeNumber7]

"Just hours after refusing to attend a Senate hearing on his role in the collapse of FTX, Sam Bankman-Fried has been arrested by The Royal Bahamian Police Force, according to a statement from the Attorney General of The Bahamas Sen. Ryan Pinder KC."

This is false. SBF had agreed to testify before congress and was set to testify hours before his arrest.

The fact that his arrest effectively prevented his testimony makes it appear that corruption in the doj was involved in the timing of his arrest. It appeared that SBF was not taking legal advice from lawyers, and he would likely have incriminated himself while testifying. 

No, it's not false.  He refused to speak to the Senate banking committee.

https://cointelegraph.com/news/sbf-misses-the-senate-hearing-but-promises-to-testify-to-the-house-law-decoded

My mistake. Although the detail is a technical one.

SBF missed the deadline to say that he will testify before the senate. He had said that he will testify before the house. He was going to testify before the house hours before he was arrested.

Btw, I think it is likely that SBF didn’t understand how to properly respond to say that he would testify before the senate. There isn’t any reason why he would testify before the house but not the senate. There was testimony that was leaked that SBF was planning on making.

Yeah it doesn't really make sense, he definitely wasn't picky about who he was willing to speak with before they took him away.  His lawyers did say that he was "unwilling to accept service of a subpoena" when addressing why he wasn't talking to the Senate, but I don't see why he would care if a subpoena were involved.  Can testifying after being subpoenad expose you to less legal risk than doing it voluntarily?  Either way he's obviously been ignoring his lawyers advice...

It's possible that subpoenas may have been sent to his lawyer instead of him directly, and his lawyers may have acted against his client's intentions (even if they may have been the most prudent thing to do).

It doesn't really make sense to refuse to testify before congress anyway. If he believed it was in his best interest to not testify, he could simply plead the 5th and not answer questions. Although his history indicates that even pleading the 5th is unlikely. This again raises the question as to why SBF would have been arrested before scheduled testimony before congress (the house) when he had indicated he would testify. This smells of political corruption.

I'm cautiously optimistic. Once the U.S. Dept. of Justice indicts then he has almost sealed his fate. The feds have something like a 95% conviction rate so even with the best lawyers SBF will retain, they can't make bad facts disappear. And it's an unquestionable fact that SBF was oversaw the vaporization of billions in user funds. How his lawyers will try and explain away SBF's role will be up to them, of course.

You are assuming the DOJ is trying to get a conviction. I have yet to see an explanation as to why SBF was arrested less than 24 hours before he was scheduled to appear before congress to testify about FTX. IMO, it is almost certain that he would have made statements that would have helped the prosecution.

BINANCE WILL FALL NEXT!!! We Have The *PROOF* CZ Will Be ARRESTED SOON!!!!

I doubt it. Binance does not appear to be run by liberal idiots. I am sure that Binance is not perfect, and they may or may not be violating US securities laws, but I don't think that Binance is doing anything that would resemble embezzlement to any reasonable person.

[mvdheuvel1983]

Just before he was scheduled to testify before Congress. I'm hoping they find a way to bring him before Congress.
There are far too many people in Washington, D.C., who are connected to him—I'm talking about well-known politicians. He should be taken to jail. He ruined the lives of countless people.

[o48o]

A twist: he will not be extradited. This gets interesting.

https://en.ethereumworldnews.com/ftxs-sam-bankman-fried-will-not-be-extradited-to-the-united-states/

I am not so sure if this is good news for Sam, it's not like prisons in Bahama are famous for their luxury 5 star sells or hospitality. I don't thin that SBF would die there, that would draw too much international attention but i am pretty sure that some criminals in there want his hidden secret bitcoin privatekey stashs, as i am sure he has some.

This would make interesting movie. All we need now is a prison brake and sam to disappear and it would be D.B. Cooper 2.0

[TwitchySeal]

A twist: he will not be extradited. This gets interesting.

https://en.ethereumworldnews.com/ftxs-sam-bankman-fried-will-not-be-extradited-to-the-united-states/

I am not so sure if this is good news for Sam, it's not like prisons in Bahama are famous for their luxury 5 star sells or hospitality. I don't thin that SBF would die there, that would draw too much international attention but i am pretty sure that some criminals in there want his hidden secret bitcoin privatekey stashs, as i am sure he has some.

This would make interesting movie. All we need now is a prison brake and sam to disappear and it would be D.B. Cooper 2.0

So he must be about to be charged in the Bahamas , right?

[o48o]

-cut-
So he must be about to be charged in the Bahamas , right?

Guess not, he is being extracted again, not sure when, but i am sure he has time to change his mind again. Apprently he can spend his whole life in prison if extracted to US. I am still baffled on what charges. Probably market manipulation as he didn't steal anyone from U.S. Least i think he didn't

https://bitcoinist.com/sam-is-fried-ftx-ceo-agrees-to-extradition/

[coolcoinz]

SBF wanted to fight the extradition but changed his mind after a couple days in a rat infested prison. It appears he now wants to go to the US because he wants to be on a vegan diet and doesn't want to be chewed on by rats at night.
AFAIK he's facing over 100 years in prison if found guilty of all the charges. Best case scenario for him is a sentence similar to that of Elizabeth Holmes, which means he'll be in his 40s when he comes out. I doubt his donations will get him out of this. There's no gain in helping him avoid prison.

[TwitchySeal]

SBF wanted to fight the extradition but changed his mind after a couple days in a rat infested prison. It appears he now wants to go to the US because he wants to be on a vegan diet and doesn't want to be chewed on by rats at night.
AFAIK he's facing over 100 years in prison if found guilty of all the charges. Best case scenario for him is a sentence similar to that of Elizabeth Holmes, which means he'll be in his 40s when he comes out. I doubt his donations will get him out of this. There's no gain in helping him avoid prison.

He also wants some adderall, which, I can't imagine any prison in the world gives to inmates.  I could be wrong - but if I'm not, I bet he puts on 70+ pounds in the next year and stops being a vegan as soon as food starts tasting like food again.  Even if it's prison food.