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

[Gyfts]

SBF gets 250 MILLION USD bail: https://www.nytimes.com/2022/12/22/business/sam-bankman-fried-ftx-bail.html

Conditions of the bail: Confined to his parents home, passport revoked, banned from flying, is under constant monitoring through an ankle bracelet monitor.

SBF claims to have 100k USD in his bank account, but he has access to 250M in capital to post his bail. This is the largest pretrial bail ever posted in history. One might ponder as to how this clown who claims to be broke is able to secure funds for bail. Seems like his parents posted the bail using property as collateral, and we already know his parents got a lot of the FTX money funnel to them through extravagant purchases.

Maybe his parents should be investigated too.

[1714608258]

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[1714608258]

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[o48o]

SBF gets 250 MILLION USD bail: https://www.nytimes.com/2022/12/22/business/sam-bankman-fried-ftx-bail.html

Conditions of the bail: Confined to his parents home, passport revoked, banned from flying, is under constant monitoring through an ankle bracelet monitor.

SBF claims to have 100k USD in his bank account, but he has access to 250M in capital to post his bail. This is the largest pretrial bail ever posted in history. One might ponder as to how this clown who claims to be broke is able to secure funds for bail. Seems like his parents posted the bail using property as collateral, and we already know his parents got a lot of the FTX money funnel to them through extravagant purchases.

Maybe his parents should be investigated too.

They probably are being investigated right now as investigators are looking for bllions that disappeared, they have to count pretty much everything that left ftx at some point. It would be interesting to know how much money SBH parents got from FTX if they can afford that bail.

But this is going to be an interesting trial with ton of unheard testimonies from witnesses, and FTX and Alameda Research. Who knows what we will hear. I am sort of hoping it will be televised. Could be even more intriguing then Johnny Depp in court.

[cmg777]

SBF gets 250 MILLION USD bail: https://www.nytimes.com/2022/12/22/business/sam-bankman-fried-ftx-bail.html

Conditions of the bail: Confined to his parents home, passport revoked, banned from flying, is under constant monitoring through an ankle bracelet monitor.

SBF claims to have 100k USD in his bank account, but he has access to 250M in capital to post his bail. This is the largest pretrial bail ever posted in history. One might ponder as to how this clown who claims to be broke is able to secure funds for bail. Seems like his parents posted the bail using property as collateral, and we already know his parents got a lot of the FTX money funnel to them through extravagant purchases.

Maybe his parents should be investigated too.

They probably are being investigated right now as investigators are looking for bllions that disappeared, they have to count pretty much everything that left ftx at some point. It would be interesting to know how much money SBH parents got from FTX if they can afford that bail.

But this is going to be an interesting trial with ton of unheard testimonies from witnesses, and FTX and Alameda Research. Who knows what we will hear. I am sort of hoping it will be televised. Could be even more intriguing then Johnny Depp in court.

I would compare it more to the Epstein trial than Johnny Depp's trial. One minute its a big deal on TV but then he is either killed or the mainstream media stops reporting on it suddenly. The reason why is because of who is in power of the country right now and they are the same people that he donated a majority of his money to: The Democratic party. I will admit he donated money to the other aisle (Republicans) just to cover his bases but it is interesting that this came out after he was caught to try and obfuscate things as usual. So looks like this was a Bankman-Fried family affair as his brother Gabe was involved:


SBF Was Meeting With Senior White House Officials Shortly Before FTX Collapse
https://www.zerohedge.com/political/sbf-met-senior-white-house-officials-ftx-collapse


"On Sept. 8, SBF met with senior Biden adviser Steve Ricchetti in a previously unreported encounter, White House officials familiar with the matter said. The meeting was "the latest in a handful of sessions," according to the report.

Bankman-Fried had at least three others previously disclosed in White House visitor logs. They include one April 22 and another May 12, each with Ricchetti, and one a day later, on May 13, with Bruce Reed, another senior Biden aide, officials confirmed. The final meeting is recorded in logs as two meetings held back-to-back, but was one meeting, officials said. Some of the prior White House meetings included others from FTX. -Bloomberg".

"According to one source, "politics" were not discussed despite SBF being a Democrat megadonor credited as a major factor in President Biden's 2020 win. Instead, the brothers allegedly talked about general matters related to the 'crypto industry and exchanges,' as well as "pandemic prevention related to the foundation, Guarding Against Pandemics, run by Gabe Bankman-Fried," according to an official."

[Gyfts]

...

What I found odd about the bail conditions is that if it turns out SBF's parents were funneled FTX funds and the feds indicted them and freeze their assets, seems like the bond funds would then be invalidated because there isn't valid collateral. If bail was 250M, SBF pays a bonds company 10 percent of that amount and is released. Bond company would be out of a lot of money if the feds seized that property.

I too would love to see this televised, but federal court cases don't allow cameras in the courtroom. They usually allow journalists to watch CCTV footage of the trial live so at least we'll have some second hand reporting.

[PrimeNumber7]

SBF gets 250 MILLION USD bail: https://www.nytimes.com/2022/12/22/business/sam-bankman-fried-ftx-bail.html

Conditions of the bail: Confined to his parents home, passport revoked, banned from flying, is under constant monitoring through an ankle bracelet monitor.

SBF claims to have 100k USD in his bank account, but he has access to 250M in capital to post his bail. This is the largest pretrial bail ever posted in history. One might ponder as to how this clown who claims to be broke is able to secure funds for bail. Seems like his parents posted the bail using property as collateral, and we already know his parents got a lot of the FTX money funnel to them through extravagant purchases.

Maybe his parents should be investigated too.

My understanding is that the bail is not much different than a signature bond. His parents put up their equity in their home (valued at roughly $3 million), and some third party made some kind of guarantee. SBF stands to lose very little if he ends up fleeing the country to avoid standing trial, although I think it is likely that he will wait to see the strength of the evidence before doing so.

[cmg777]

I'm locking voting sometime in February so vote on

Sam Bankman-Fried’s Alameda Research troubles predate FTX: Report
https://cointelegraph.com/news/sam-bankman-fried-s-alameda-research-troubles-predate-ftx-report

U.S. DOJ to seize $465 million of Robinhood shares tied to Bankman-Fried

https://www.reuters.com/business/finance/us-doj-process-seizing-robinhood-shares-tied-bankman-fried-2023-01-04/

FTX customers want more info on FTX’s plans to sell subsidiaries
https://cointelegraph.com/news/ftx-customers-want-more-info-on-ftx-s-plans-to-sell-subsidiaries

Three Arrows Capital founders subpoenaed on Twitter
https://cointelegraph.com/news/three-arrows-capital-founders-subpoenaed-on-twitter

[Swordsoffreedom]

I'm locking voting sometime in February so vote on

The trial was adjourned until October on the grounds that Sam had refused to plead guilty to the announced charges. I am beginning to believe that he will only have to spend a while in prison or maybe even less house arrest than the 115-year prison sentence that had been predicted. I wouldn't be surprised if that's the result, given what he donates to politicians, and with the money he has on hand, he can buy justice anywhere, anytime. Maybe he will find a way to lure two of his accomplices to accept me for him, and he will pay them a handsome sum.

[Gyfts]

This is old news but I wasn't aware that SBF's girlfriend(?) had already plead guilty to federal charges: https://www.coindesk.com/policy/2022/12/22/alameda-chief-caroline-ellison-ftxs-gary-wang-plead-guilty-to-fraud-charges/

I missed the press briefing, I figured it would've been bigger news: https://www.justice.gov/usao-sdny/pr/united-states-attorney-announces-extradition-ftx-founder-samuel-bankman-fried-united

Looks like she faces a maximum of 100 years but if she accepted the plea they probably gave her much less. Feds have a high conviction rate so the necessity of a plea deal isn't terribly important unless the accused legitimately thinks they don't have a shot going through a jury trial. Her lawyers would have advised her of this.

When taking a plea deal, the client is required to admit wrongdoing and those admissions could become admissible should she testify in SBF's trial. These guilty pleas are going to make it a lot easier to convict SBF.

[cmg777]

FTX asset sales challenged by U.S. Trustee: Report
https://cointelegraph.com/news/ftx-asset-sales-challenged-by-u-s-trustee-report

Sam Bankman-Fried's charitable donations sought by FTX: Report
https://cointelegraph.com/news/sam-bankman-fried-s-charitable-donations-sought-by-ftx-report

Funny doesn't mention the Ukraine donations...

_______________________________________________________________________________ ___________________

Wyre imposes up to a 90% withdrawal limit for all users
https://cointelegraph.com/news/wyre-imposes-up-to-a-90-withdrawal-limit-for-all-users

Digital Currency Group under investigation by U.S. authorities: Report
https://cointelegraph.com/news/digital-currency-group-under-investigation-by-u-s-authorities-report

Hedge funds subpoenaed by U.S. prosecutors as Binance probe unfolds: Report
https://cointelegraph.com/news/hedge-funds-subpoenaed-by-u-s-prosecutors-as-binance-probe-unfolds-report

Further market contagion? Weird part is the market is shrugging it off for now at present as I write this post.

[TwitchySeal]

Funny doesn't mention the Ukraine donations...

You think they should go after everyone that's exchanged crypto at some point on FTX?  Or go after all the FTX users from Ukraine that got a free $25 credit?

Because there isn't much else involving Ukraine and FTX, unless you're pushing a conspiracy theory you can't think is likely true....remember: https://bitcointalk.org/index.php?topic=5382794.msg61411399#msg61411399

[cmg777]

Funny doesn't mention the Ukraine donations...

You think they should go after everyone that's exchanged crypto at some point on FTX?  Or go after all the FTX users from Ukraine that got a free $25 credit?

Because there isn't much else involving Ukraine and FTX, unless you're pushing a conspiracy theory you can't think is likely true....remember: https://bitcointalk.org/index.php?topic=5382794.msg61411399#msg61411399

It doesn't mention the pandemic ones either... Either way the guy stole a lot of money from people and that is all that matters. He did work with the WEF:

The COVID/Crypto Connection: The Grim Saga Of FTX & Sam Bankman-Fried
https://www.zerohedge.com/political/covidcrypto-connection-grim-saga-ftx-sam-bankman-fried

How World Economic Forum, others are hiding their past ties with FTX
https://nypost.com/2022/11/14/how-world-economic-forum-others-are-hiding-past-ties-with-ftx/

[TwitchySeal]

Funny doesn't mention the Ukraine donations...

You think they should go after everyone that's exchanged crypto at some point on FTX?  Or go after all the FTX users from Ukraine that got a free $25 credit?

Because there isn't much else involving Ukraine and FTX, unless you're pushing a conspiracy theory you can't think is likely true....remember: https://bitcointalk.org/index.php?topic=5382794.msg61411399#msg61411399

It doesn't mention the pandemic ones either...

That's because they don't care how many right wing conspiritards read it.

[cmg777]

That's because they don't care how many right wing conspiritards read it.

*insert sarcasm*
Right, because we should always follow the current thing given to us by state-run media. Its so loving and liberal that you censored my quotes in your posts.
*end sarcasm*

[worldofcoins]

I guess I'm eating crow because I'm shocked they didn't arrest him sooner but I'm sure the trial will go on and on like the Elizabeth Holmes of Theranos.

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

https://www.zerohedge.com/crypto/sam-bankman-fried-arrested-bahamas-set-prompt-extradition

"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."

What are your thoughts, crypto community?

If the charges against him are proven genuine by the due process of law, and he is found guilty, then he must be punished by the law due to wire fraud, securities fraud, and money laundering. This should be made an example for other entrepreneurs as well.

[TwitchySeal]

That's because they don't care how many right wing conspiritards read it.

*insert sarcasm*
Right, because we should always follow the current thing given to us by state-run media. Its so loving and liberal that you censored my quotes in your posts.
*end sarcasm*

*insert sarcasm*
Right, because we should always follow the current thing given to us by anonymous right wing blogs and conspiracy websites. Its so loving and conservative that you misuse the word censored. Please cry about free speech now.  Tell everyone how you are a victim.
*end sarcasm*

Seriously though. "But the main stream media reported it" is such a lame argument.  How about you use your brain and try to look at all the evidence objectively from both sides.

[cmg777]

*insert sarcasm*
Right, because we should always follow the current thing given to us by anonymous right wing blogs and conspiracy websites. Its so loving and conservative that you misuse the word censored. Please cry about free speech now.  Tell everyone how you are a victim.
*end sarcasm*

LOL and I thought sarcasm was racist to you Libz. Don't you virtue signal or something else these days or whatever the current thing is?

Seriously though. "But the main stream media reported it" is such a lame argument.  How about you use your brain and try to look at all the evidence objectively from both sides.

Actually in a way I agree with you on your statement. Its not that the "Mainstream media reported it" but rather certain narratives are parroted while other ones that might be counter-narrative to everything are brushed under the rug. There are at least two sides to every story and in some cases many sides and many actors involved. I do use my brain and refuse to believe that everything is one sided as you seem to perceivably do as everything is black or white to you due to our narrative driven corporate media. At the same time, I almost wonder if you work for the mainstream media or desire to do so?

Crypto community unimpressed by SBF’s lengthy Substack letter
https://cointelegraph.com/news/crypto-community-unimpressed-by-sbf-s-lengthy-substack-letter

He is just plain cocky and thinks he'll get away with this. He probably will and might even fake his own death. Then we'll see him in some social media post and it will be knocked as conspiracy theory and then if you remember me posting it I called it lol.

[Gyfts]

https://apnews.com/article/sam-bankman-fried-ftx-cryptocurrency-sentencing-sbf-d7bb1a5e94b4c22039d74dfeab1a2ff1

SBF gets 25 years in prison.

Lucky he didn't get closer to the maximum, which was 100+ years. Probably would have if he weren't so well connected.

[nutildah]

https://apnews.com/article/sam-bankman-fried-ftx-cryptocurrency-sentencing-sbf-d7bb1a5e94b4c22039d74dfeab1a2ff1

SBF gets 25 years in prison.

Lucky he didn't get closer to the maximum, which was 100+ years. Probably would have if he weren't so well connected.

I suppose that's fair enough... The bulk of the rest of his adulthood. He might get out early for good behavior or for this or that reason, but if he gets out before Ross Ulbricht I'll be pretty pissed about that.

So many politicians that took money from him embarrassed themselves so hard, but its already all being swept under the rug by a lobbyist-sized broom.

[worldofcoins]

So many politicians that took money from him embarrassed themselves so hard, but its already all being swept under the rug by a lobbyist-sized broom.

Also the traders who had their money in his Exchange and SBF was like "Your money is safe"

Btw, did SBF's gf also had a trip to jail?

[TwitchySeal]

Btw, did SBF's gf also had a trip to jail?

Not yet.  Because she cooperated as part of he plea deal they were waiting to schedule her sentencing until after SBFs.  So they should be setting that date soon.

Experts are guessing that her and the other FTX executives that worked with prosecutors to convict SBF will get between 0 and 1 or 2 years in prison along with probation and hefty fines.