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FTX’S Sam Bankman-Fried Arrested in Bahamas at Request of U.S. Government

FTX’S Sam Bankman-Fried Arrested in Bahamas at Request of U.S. Government

“USA Damian Williams: Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the U.S. Government, based on a sealed indictment filed by the SDNY.”

Authorities arrested FTX founder Sam Bankman-Fried in the Bahamas after U.S. prosecutors in the Southern District of New York filed charges.

“On 12 December 2022, the Office of the Attorney General of the Bahamas is announcing the arrest by The Royal Bahamas Police Force of Sam Bankman-Fried (“SBF”), former CEO of FTX,” stated the Attorney General of The Bahamas Sen. Ryan Pinder KC. “SBF’S arrest followed receipt of formal notification from the United States that it has filed criminal charges against SBF and is likely to request his extradition.”

Prime Minister Philip Davis said: “The Bahamas and the United States have a shared interest in holding accountable all individuals associated with FTX who may have betrayed the public trust and broken the law. While the United States is pursuing criminal charges against SBF individually, The Bahamas will continue its own regulatory and criminal investigations into the collapse of FTX, with the continued cooperation of its law enforcement and regulatory partners in the United States and elsewhere.”

Bankman-Fried fronted FTX until the crypto-company imploded in November. The crypto exchange filed for bankruptcy and up to $2 billion in client funds may have disappeared.

Bankman-Fried was also a huge Democrat donor, right behind George Soros:

Bankman-Fried – the second biggest donor to Democrats behind George Soros – has all but admitted that he squandered billions of dollars of other people’s money carelessly, writing “I fucked up” on Twitter in a mea culpa about two weeks ago, days after a run on his exchange exposed it to be a shell of what many perceived it to be.

Institutional investors in FTX have written their stakes in the firm to $0…

Now widely accepted by the public and most in the financial industry to have committed a massive $30 billion fraud that has spawned innumerable comparisons to Madoff and Enron, it’s unclear to me what more of an admission of guilt is needed to extradite Bankman-Fried to the United States and place him under arrest.

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Comments

The useful idiot is no longer useful.

CaliforniaJimbo | December 12, 2022 at 7:21 pm

Don’t tell mad Maxine. She loves him

smalltownoklahoman | December 12, 2022 at 7:33 pm

Good, hopefully it won’t take long to have him brought back here to face justice.

Colonel Travis | December 12, 2022 at 7:35 pm

Government interrogator: How many Democrats did you donate to?
Sam: A lot
Government interrogator: How much did you give them?
Sam: A lot
Government interrogator: OK, you can go. Promise you won’t do this again.

    Government interrogator: Where the hell is Bankman-Fried? He’s supposed to testify.

    Bankman’s lawyer: He can’t come. He’s being held in the Bahamas.

    Government interrogator: Well, when can he come?

    Banksman’s lawyer: He has to stay in the Bahamas forever or until the money is gone—whichever comes first.

    Like the Epstein client list, we will never know which pols were on the take.

    I agree, but you are wrong.
    Congressional Hearing: Please list the campaigns Sam contributed to?
    FBI/DOJ: That investigation is in progress we cannot discuss it.

    They had to arrest him to shut and the investigators up.
    He was actually going to testify. Now he cannot name which democrats, republicans and journalists he gave funds to.

But won’t be asked questions by congressman now will he?

    Seems that I remember him saying recently that his schedule wouldn’t fit with Congressional testimony. Well, I think his schedule just opened up.

    CommoChief in reply to Skip. | December 12, 2022 at 8:25 pm

    Depending upon which Bankruptcy CT Judge is drawn the effort to claw back the campaign donations and other outgoing sums may get interesting. Some of the politicians have tried to dodge by contributing the amount they got from this guy to charity. A claw back would still leave them on the hook to return the $ for distribution to creditors and those clients whose funds were raided.

    JOBBOSS in reply to Skip. | December 13, 2022 at 1:45 am

    Good point. They can say he’s “under investigation” and unavailable for Congressional testimony. In any case, he can now plead the fifth to any Congressional questions.

SBF didn’t kill himself.

Seems obvious the charging decision came down from DNC central to stop him.from answering any questions in a public forum.

It will be interesting to see if he has beaten Bernie Madoff’s record:

(from Wiki) “Bernard Lawrence Madoff was an American fraudster and financier who ran the largest Ponzi scheme in history, worth about $64.8 billion.”

Was he perp walked like all of President Trumps men?

I doubt it

    Milhouse in reply to gonzotx. | December 12, 2022 at 10:43 pm

    Not a fair question, since the FBI didn’t arrest him. They don’t do perp walks in civilized countries like the Bahamas.

    Dimsdale in reply to gonzotx. | December 13, 2022 at 8:03 am

    I prefer a good frog march, but I am sure that he will have a job waiting for him in the DNC financing wing.

    Doubtless, all the Dems have cleaned up (as in bleach bit) their evidence trails….

Too bad about his suicide.

When will the DNC give back his donation, clearly with embelezed money? Never you say..

$2 billion in crypto didn’t disappear, it went into somebody’s pocket. The only question is whose. Because SBF was a big Democrat donor nobody will do a real forensic investigation of the money.

He’s just an innocent young boy whose only sin was loving too much.

Now, what about his rodent like girlfriend?

American Human | December 13, 2022 at 8:43 am

However, now that he’s been arrested, he cannot be forced testify in front of Congress. The cover-up has begun.

He’ll be bailed and then it will be five or six years before his trial.

I may be wrong but, I’m just saying.

I remember how people laughed at Bernie Madoff ‘s name because he “made off” with billions.
Now we have Bankman-Fried …. need I say more?

The nerdy, petite, Harry Potter-loving ex-GF has likely figured out that such qualities will not serve her well in a federal woman’s prison. Cue the “I was young, vulnerable, and he exploited me–I was in love, etc.” My guess is she has some asset control arrangement with the feds that will allow her to remain free while her cooperation continues, live comfortably in NYC, retain and pay Wilmer Hale, and visit the occasional trendy Manhattan coffee place serving conflict-free, organic, responsibly harvested java while SBF is stuck drinking cold, week-old black generic Folgers from a used Syrofoam cup. Once her cooperation is done, she will get no time (or very little) in return for turnover of all ill-gotten gain. She will write a book that will be made into a Lifetime channel movie.

The nerdy, petite, Harry Potter-loving ex-GF has likely figured out that such qualities will not serve her well in a federal woman’s prison. Cue the “I was young, vulnerable, and he exploited me–I was in love, etc.” My guess is she has some asset control arrangement with the feds that will allow her to remain free while her cooperation continues, live comfortably in NYC, retain and pay Wilmer Hale, and visit the occasional trendy Manhattan coffee place serving conflict-free, organic, responsibly harvested java while SBF is stuck drinking cold, week-old black generic Folgers from a used Styrofoam cup. Once her cooperation is done, she will get no time (or very little) in return for turnover of all ill-gotten gain. She will write a book that will be made into a Lifetime channel movie.

The indictment is unsealed and available on PACER, 22cr673 (SDNY). It charges conspiracy to commit wire fraud on customers, wire fraud on customers, conspiracy to commit wire fraud on lenders, wire fraud on lenders, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering, and conspiracy to defraud the United States and violate campaign finance laws.

Love his excuse for why he can’t be jailed. He’s a depressed Vegan. Never stops being all about me with this bunch.

How strange this happened just one day before he was going to testify under oath before Congress so now that is off the table. Just what was he going to say that has the Democrats so scared? Point out all the money he funneled to Auntie Maxine and Crew live in front of TV Camera’s so it couldn’t be covered up?