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FTX investor Sequoia removed its glowing profile of Sam Bankman-Fried

businessinsider.com

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Re: FTX investor Sequoia removed its glowing profile of Sam Bankman-Fried

#11

Post by 0xy »

epgui wrote: post #5
qprofyeh wrote: post #3

Earlier quoted context omitted.

IANAL. What's his defense?

There's no need to talk about any defence strategy if there are no specific accusations. And by specific I mean specific: what is the accusation? (Just to be clear, I am not on his side. I'm just pedantic.)

Securities fraud. SBF almost certainly misrepresented the company during negotiations with investors in its most recent fundraising attempts.

If his Twitter deception is anything to go by, he liked lied to investors about pilfering customer funds to bail out failed Alameda Research. Forget about lying, it's illegal to even withhold pertinent information when pitching to US investors.

The Bahamas is no safe haven. They will extradite. After all, his investors are in the US and those transactions are covered by SEC rules. Given the scale of the fraud here, this is serious jail time.

He could be saved by his political bribes, though, considering he's greased the palms of the current administration (#2 Democrat donator in the recent cycle) ;)

Re: FTX investor Sequoia removed its glowing profile of Sam Bankman-Fried

#12

Post by baq »

blitzar wrote: post #4
qprofyeh wrote: post #3

Earlier quoted context omitted.

IANAL. What's his defense?

He is already setting up for the "it wasnt me" defence, along with the associated "I am a victim too" . Eventually it will be pointed out that they were not actually real banks or brokerages, just crypto ones, and the "its not actually illegal" defence will kick in.

It’ll also help to have real estate in UAE.

Re: FTX investor Sequoia removed its glowing profile of Sam Bankman-Fried

#13

Post by blitzar »

throwaway742 wrote: post #6
blitzar wrote: post #4

Earlier quoted context omitted.

He is already setting up for the "it wasnt me" defence, along with the associated "I am a victim too" . Eventually it will be pointed out that they were not actually real banks or brokerages, just crypto ones, and the "its not actually illegal" defence will kick in.

https://www.youtube.com/watch?v=2g5Hz17C4is

"Gonna tell her that I'm sorry For the pain that I've caused"

Re: FTX investor Sequoia removed its glowing profile of Sam Bankman-Fried

#14

Post by user_named »

themihai wrote: post #8
qprofyeh wrote: post #3

Earlier quoted context omitted.

IANAL. What's his defense?

Crypto investors should not hold their funds in custodial wallets(i.e centralised exchanges). Sam did a great service to the crypto world. As far as I'm concerned they've got what they deserved. Hopefully Binance'll show them the empty bag as well and finnally the myth of centralised crypto is busted.

All crypto is centralized and always will be.

Re: FTX investor Sequoia removed its glowing profile of Sam Bankman-Fried

#15

Post by djbebs »

epgui wrote: post #5
qprofyeh wrote: post #3

Earlier quoted context omitted.

IANAL. What's his defense?

There's no need to talk about any defence strategy if there are no specific accusations. And by specific I mean specific: what is the accusation? (Just to be clear, I am not on his side. I'm just pedantic.)

Fraud is one

Re: FTX investor Sequoia removed its glowing profile of Sam Bankman-Fried

#16

Post by itake »

themihai wrote: post #8
qprofyeh wrote: post #3

Earlier quoted context omitted.

IANAL. What's his defense?

Crypto investors should not hold their funds in custodial wallets(i.e centralised exchanges). Sam did a great service to the crypto world. As far as I'm concerned they've got what they deserved. Hopefully Binance'll show them the empty bag as well and finnally the myth of centralised crypto is busted.

Everyone that didn’t hold their Terra or UST in an exchange couldn’t exit fast enough

Re: FTX investor Sequoia removed its glowing profile of Sam Bankman-Fried

#17

Post by user_named »

0xy wrote: post #11
epgui wrote: post #5

Earlier quoted context omitted.

There's no need to talk about any defence strategy if there are no specific accusations. And by specific I mean specific: what is the accusation? (Just to be clear, I am not on his side. I'm just pedantic.)

Securities fraud. SBF almost certainly misrepresented the company during negotiations with investors in its most recent fundraising attempts. If his Twitter deception is anything to go by, he liked lied to investors about pilfering customer funds to bail out failed Alameda Research. Forget about lying, it's illegal to even withhold pertinent information when pitching to US investors. The Bahamas is no safe haven. The…

He's supposedly fled to Argentina. Probably just a stop on the way to his final destination

Re: FTX investor Sequoia removed its glowing profile of Sam Bankman-Fried

#19

Post by baq »

user_named wrote: post #17
0xy wrote: post #11

Earlier quoted context omitted.

Securities fraud. SBF almost certainly misrepresented the company during negotiations with investors in its most recent fundraising attempts. If his Twitter deception is anything to go by, he liked lied to investors about pilfering customer funds to bail out failed Alameda Research. Forget about lying, it's illegal to even withhold pertinent information when pitching to US investors. The Bahamas is no safe haven. The…

He's supposedly fled to Argentina. Probably just a stop on the way to his final destination

The aircraft was registered in Argentina, so maybe it was just pulled back as sbf can’t pay for it. But yeah, I’d assume he’s on the run.
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