United States v. BANKMAN-FRIED (FTX collapse/fraud)

Welcome to the Precious Metals Bug Forums

Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more.

Why not register an account and join the discussions? When you register an account and log in, you may enjoy additional benefits including no Google ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!

No sweat off my scrotum. Billionaires (NFL) and Multi-millionaires ( contracted employees) getting burnt over their GREED? IDGAF
They'll get settlements before folks from WuFlu, Jab Juice(s) , or DIE from it do.
 

Revealed: FTX Attorney Reveals Co-Founder of Company Was Ordered to Create “Secret Backdoor” for Laundering Money​

By Jim Hoft
Published January 14, 2023

Where did this guy come from?
How did he become a multi-millionaire?
Was he a government asset?
Was he used by the elites to funnel money to fellow elites?
Was he used by the deep state to sabotage crypto currencies?
How much money did he ultimately funnel to Democrats and their causes?

The attorney for FTX testified in court that the co-founder of the crypto company used a secret backdoor to launder money to Alameda Research.

FTX Crypto went bankrupt last year, its owner losing millions of dollars.

FTX owner Sam Bankman-Fried was the second biggest donor to Democrats in the 2022 midterms.

more
www.thegatewaypundit.com

Revealed: FTX Attorney Reveals Co-Founder of Company Was Ordered to Create "Secret Backdoor" for Laundering Money

Where did this guy come from? How did he become a multi-millionaire? Was he a government asset? Was he used by the elites to funnel money to fellow elites? Was he used by the deep state to sabotage crypto currencies? How much money did he ultimately funnel to Democrats and their causes? The...
www.thegatewaypundit.com www.thegatewaypundit.com
 

Congress' FTX Problem: 1 in 3 Members Got Cash From Crypto Exchange's Bosses​

More than one in three of the 535 senators and representatives in the U.S. Congress showed up to the new session with FTX baggage, having received campaign support from one of the senior executives of the fraud-ridden crypto giant.

CoinDesk has identified 196 members of the new Congress – many of whom were just sworn in last week – who took cash from Sam Bankman-Fried or other senior executives at FTX, a crypto exchange that filed for bankruptcy in Delaware in November after CoinDesk revealed unusually close ties between FTX and Alameda Research, an affiliated hedge fund. The names in Congress range from the heights of both chambers, including new Speaker of the House Kevin McCarthy (R-Calif.) and Senate Majority Leader Chuck Schumer (D-N.Y.), down to a list of recipients new to high-level politics.

CoinDesk reached out to all 196 lawmakers to ask what they would do with these funds, given that it became clear after they had received the money that according to FTX insiders who admitted guilt sprang from a colossal financial swindle.

Read the full article here:

 
searcher said:

Congress' FTX Problem: 1 in 3 Members Got Cash From Crypto Exchange's Bosses​

More than one in three of the 535 senators and representatives in the U.S. Congress showed up to the new session with FTX baggage, having received campaign support from one of the senior executives of the fraud-ridden crypto giant.

CoinDesk has identified 196 members of the new Congress – many of whom were just sworn in last week – who took cash from Sam Bankman-Fried or other senior executives at FTX, a crypto exchange that filed for bankruptcy in Delaware in November after CoinDesk revealed unusually close ties between FTX and Alameda Research, an affiliated hedge fund. The names in Congress range from the heights of both chambers, including new Speaker of the House Kevin McCarthy (R-Calif.) and Senate Majority Leader Chuck Schumer (D-N.Y.), down to a list of recipients new to high-level politics.

CoinDesk reached out to all 196 lawmakers to ask what they would do with these funds, given that it became clear after they had received the money that according to FTX insiders who admitted guilt sprang from a colossal financial swindle.

Read the full article here:

Click to expand...
Does this mean this meme is now true?

1668385347384.png
 
Maybe they should simply put the guy in jail?

At the link:

  • Federal prosecutors on Monday raised concerns about Sam Bankman-Fried's recent use of a VPN.
  • VPNs allow individuals to covertly access crypto exchanges and the dark web, prosecutors said.
  • Bankman-Fried's lawyers said Tuesday he was streaming football matches, including the Super Bowl.
Sam Bankman-Fried has on two occasions used a virtual private network (VPN) to mask his web connection while under house arrest, federal prosecutors have said.

 
SBF will just claim his VPN usage was to converse with his lawyers and thus protected usage. It will be a hard hurdle for the prosecution to overcome. If the prosecution presents evidence that he used it for something else then every VPN service will be suspect to intrusion. That’s something the government is not willing to do.
 
I thought use of a VPN was prohibited as a condition of his house arrest.
 
A judge banned Sam Bankman-Fried from using a VPN after the former FTX boss said he used a private network to watch the Super Bowl while under house arrest.

“The defendant’s use of a VPN presents many of the same risks associated with his use of an encrypted messaging or call application,” U.S. Distrct Judge Lewis Kaplan wrote. “I hereby amend the conditions of defendant’s release, effective immediately, to prohibit the defendant’s use of any VPN.”

The move comes as Bankman-Fried’s lawyers negotiate his bail terms with prosecutors. The judge recently barred Bankman-Fried from using encrypted messaging apps like Signal after he was accused of contacting a potential witness in his criminal case. Bankman-Fried is also banned from contacting current or former FTX employees until his bail conditions are settled.

More:

www.theblock.co

Bankman-Fried banned from using VPN, bail arguments set for Thursday

A judge prohibited Sam Bankman-Fried from using a VPN in a new court order.
www.theblock.co www.theblock.co

________________________________________

Be interesting to read the actual conditions of his house arrest.
 
...
The other two guarantors are now known to be Larry Kramer, who is president of the William and Flora Hewlett Foundation and dean emeritus at Stanford Law School, and Andreas Paepcke, a senior research scientist at Stanford University. ...
Click to expand...

www.cnbc.com

FTX founder Sam Bankman-Fried's two bond guarantors unsealed, both with ties to Stanford

The names of FTX co-founder Sam Bankman Fried's bond guarantors were unsealed on Wednesday after a judge granted a motion to have their identities made public.
www.cnbc.com www.cnbc.com
 
Last edited:
FTX Digital Markets Ltd, the Bahamas arm of the collapsed crypto exchange, appears to have commingled corporate funds with client money, liquidators said in a Feb. 8 document filed in a local court.

The comments made in the accounting report echo those from John J. Ray III, the new boss of FTX’s U.S. entity, who has repeatedly lamented a lack of corporate controls at the company before he took over on Nov. 11.

“It appears that client monies have been commingled such that it may not be possible to clearly identify sums that constitute client monies as opposed to general corporate funds,” said the document, authored by Lennox Paton’s Brian Simms and PWC’s Kevin Cambridge and Peter Greaves. The trio were jointly appointed by a Bahamas court as liquidators on Nov. 10 and 14 last year.
...
Click to expand...

www.coindesk.com

FTX’s Bahamas Unit Commingled Client, Corporate Funds, Liquidators Say

FTX Digital had bank accounts with a balance of $219 million, a report by PriceWaterhouseCoopers staffers said.
www.coindesk.com www.coindesk.com

surprise-face-gif.gif
 
pmbug said:
www.cnbc.com

FTX founder Sam Bankman-Fried's two bond guarantors unsealed, both with ties to Stanford

The names of FTX co-founder Sam Bankman Fried's bond guarantors were unsealed on Wednesday after a judge granted a motion to have their identities made public.
www.cnbc.com www.cnbc.com
Click to expand...

Thinking a little bit deeper and tying some more loose ends together. How does a measly Stanford Dean who makes a few million a year come up with $250 million dollars? Well he has ties to none other than Ken Griffin.... ring leader of this Huuuuuge scam we call an economy / market.

 
Disgraced FTX founder Sam Bankman-Fried was charged on Thursday with 12 new counts, including illegally making over 300 political contributions to the tune of tens of millions of dollars through straw donors and using corporate funds.

"Bankman-Fried's use of straw donors allowed him to evade contribution limits on individual donations to candidates to whom he had already donated," reads the indictment, which adds that the "fraudulent conduct" impaired the FEC's functioning.
...
Click to expand...

More:

ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com

Sam is fucked.
 
pmbug said:
More:

ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com

Sam is fucked.
Click to expand...
"making over 300 political contributions to the tune of tens of millions of dollars through straw donors and using corporate funds."

Hmmm, I wonder where that "money trail" leads....?
 
Sam will be "disappeared" - like Jeffy Epstein.

Some poor (expletive) will be sacrificed and wheeled out of the jailhouse. Or out of Bunco-Fraud's "House Arrest" location. Suicide, so sad.

And then, Sam gets to find out whether he's really of any value to the backstage players, or if he just knows too much.
 
Casey Jones said:
Sam will be "disappeared" - like Jeffy Epstein.

Some poor (expletive) will be sacrificed and wheeled out of the jailhouse. Or out of Bunco-Fraud's "House Arrest" location. Suicide, so sad.

And then, Sam gets to find out whether he's really of any value to the backstage players, or if he just knows too much.
Click to expand...

See YA, wouldn't want to Be YA.
 

S.B.F.’s Unsolved Dark-Money Mysteries​

A Taldmudic reading of exclusively obtained FTX filings suggests the next steps in this unfolding drama: finding out what Gabe Bankman-Fried knew about Salame’s dark money machine, S.B.F.’s ties to David McCormick, and more.
THEODORE SCHLEIFER
February 14, 2023

There used to be a joke I’d hear around Washington, that everyone in town with an ounce of ambition was, in some way or another, on the payroll of Sam Bankman-Fried. And if you hadn’t figured out how to get on the gravy train, well, that was on you. Like all good jokes, there was more than a kernel of truth to all of it: I’ve covered the S.B.F. political machine as closely as anyone over the last few years, and I still encounter new names of lobbyists who were secretly on Sam’s retainer, of data savants who found a way into D.C.’s greatest donor-fueled growth industry, and amazingly, nonprofits that were moving millions of FTX-connected dollars without a scintilla of public knowledge.

Since last November, of course, any exposure to Sam or his money has been more like a scarlet letter, forcing nearly all of his political aides to lawyer up and play defense against federal investigations and by FTX itself. Which is why I was particularly interested when it emerged that FTX—or rather the carcass of FTX, now led by former Enron bankruptcy executive John Ray III—had expressed its intention in a legal filing to subpoena Gabe Bankman-Fried, Sam’s well-connected and once sneakily powerful younger brother. Gabe, as I reported earlier this month, is under pressure by FTX and its attorneys at Sullivan & Cromwell to comply with document requests and fork over any

paywall
puck.news

S.B.F.’s Unsolved Dark-Money Mysteries

A Taldmudic reading of exclusively obtained FTX filings suggests the next steps in this unfolding drama: finding out what Gabe Bankman-Fried knew about Salame’s dark money machine, S.B.F.’s ties to David McCormick, and more.
puck.news
 
Leaders of the Effective Altruism movement were repeatedly warned beginning in 2018 that Sam Bankman-Fried was unethical, duplicitous, and negligent in his role as CEO of Alameda Research, the crypto trading firm that went on to play a critical role in what federal prosecutors now say was among the biggest financial frauds in U.S. history. They apparently dismissed those warnings, sources say, before taking tens of millions of dollars from Bankman-Fried’s charitable fund for effective altruist causes.

When Alameda and Bankman-Fried’s cryptocurrency exchange FTX imploded in late 2022, these same effective altruist (EA) leaders professed outrage and ignorance. “I don’t know which emotion is stronger: my utter rage at Sam (and others?) for causing such harm to so many people, or my sadness and self-hatred for falling for this deception,” tweeted Will MacAskill, the Oxford moral philosopher and intellectual figurehead of EA, who co-founded the Centre for Effective Altruism.

Full story:

time.com

Exclusive: Effective Altruist Leaders Were Warned About Sam Bankman-Fried Years Before FTX Collapsed

EA leaders said they were deceived by the disgraced billionaire. But the red flags around Bankman-Fried were well known
time.com time.com
 
Sam Bankman-Fried’s defunct crypto exchange FTX owes Jimmy Buffett’s Margaritaville resort nearly $600,000 — more than 10 times what was previously thought — and meanwhile racked up a $400,000 DoorDash tab ahead of its bankruptcy, court papers revealed this week.

In November, FTX’s investment affiliate Alameda Research was reportedly sought after by Margaritaville resort in the Bahamas over a $55,319 bar tab.

 
They should jail him. His parents are enablers and he could spoil evidence with electronic access. He should have never been granted bail.
 
FTX founder Sam Bankman-Fried will plead not guilty on charges of trying to evade campaign financing laws and attempting to bribe one or more Chinese government officials, Reuters reported on Thursday.

Bankman-Fried previously pleaded not guilty to eight charges of fraud and conspiracy, awaiting trial in October.

With the addition of accusations of attempting to evade campaign finance laws and bribery of Chinese government officials, Bankman-Fried now faces a 13-count indictment.
...
Click to expand...

www.coindesk.com

Sam Bankman-Fried to Plead Not Guilty to Bribery, Campaign Finance Charges: Reuters

Bankman-Fried previously pleaded not guilty to eight charges of fraud and conspiracy, awaiting trial in October.
www.coindesk.com www.coindesk.com
 

Sam Bankman-Fried declared Alameda ‘unauditable,’ new report shows​

APRIL 9, 2023, 9:40PM EDT

  • The new management of FTX, headed by CEO John Ray III, today released its first interim report on control failures at the collapsed crypto exchange.
  • The 45-page report describes in painstaking detail FTX’s slapdash record-keeping, near non-existent cybersecurity defenses and its sparse expertise in key areas like finance.
www.theblock.co

Sam Bankman-Fried declared Alameda ‘unauditable,’ new report shows

The new management of FTX, headed by CEO John Ray III, today released its first interim report on control failures at the collapsed crypto exchange.
www.theblock.co www.theblock.co
 
You must log in or register to reply here.
Back
Top Bottom