CNBC: FTX founder Sam Bankman-Fried arrested in the Bahamas after U.S. files criminal charges

This criminal has done some good: his arrest gives me hope that we might begin applying the rule of law to sociopathic Billionaires who, you know, steal $Billions from Millions of People. Thank-you, government of the Bahamas, for doing the right thing:

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How we arrived at Sam Bankman-Fraud’s arrest:

He wasn’t doing anything too different from any banker really :slightly_smiling_face:

He [SBF] wasn’t doing anything too different from any banker really.

You might feel differently if all the funds in your bank account had disappeared.


The main difference between him and a bank is that the banks get bailed out:

Trillion dollar bail out in 2008 in the USA:

A trillion dollars will go nowhere next time, judging by the BIS:

Dollar debt in FX swaps and forwards: huge, missing
and growing

Much the same as here in Europe:

I’m still buying precious metals and any asset that i think might hold some value as the government/bankers continue robbing us with inflation.

Sam’s not a lot different really

So your argument is that he shouldn’t be punished because other people were not punished?


Not at all. Just pointing out that some crooks (aka bankers) are now a protected species when it comes to financial fraud. This article explains how over 1,000 bankers were jailed for a financial crisis in the 1980’s and compares this with 2008

If I had my way there would be thousands of bankers in jail.

They will just make an example of Sam to show how tough they are on financial fraud while he’s just done what so many bankers have been doing for years with impunity!

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Just heard on Bloomberg that Sam Bankman-Fried is fighting extradition to the US. Yeah, I bet he is. Can you imagine this guy spending a night in Rikers?

:pushpin: A federal indictment alleges FTX CEO and founder Sam Bankman-Fried committed several campaign finance violations.

:pushpin: Banksman-Fried is accused of donating to politicians under others’ names, wire fraud, money laundering, and more.

:pushpin: He was arrested on Monday in the Bahamas and is expected to be extradited to the US.

The state’s attorney for New York reading the indictment was named maybe Grant Williams? First time I’ve ever seen this young man. What a great voice and demeanor. All business.

Yeah, Drudge back to using “Crypto Creep” in headlines:

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Crypto markets are still functioning, of course. But without Genesis, “no large lender is left,” says Ram Ahluwalia, CEO of digital-asset investment advisor Lumida Wealth Management. Genesis pulling out of the market has “created a credit crunch. There aren’t many sources of liquidity left.”

One unknown factor is whether creditors to Sam Bankman-Fried’s crypto conglomerate will now try to “claw back” funds through bankruptcy proceedings.

FTX and its related trading firm, Alameda Research, moved billions of dollars in crypto assets in the months before they sought bankruptcy protection, according to blockchain research firm Nansen. Some transfers by Alameda last summer were to repay large loans called back by Genesis and other lenders, according to interviews given in the past couple of weeks by Bankman-Fried.