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SBF Arrested by Bahamian Authorities

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Re: SBF Arrested by Bahamian Authorities

#171

Post by strangattractor »

laluser wrote: post #16
rjbwork wrote: post #4

Much sooner than I expected. Figured it'd be a couple of years before the AG was secure enough in their case to bring charges. This is MUCH faster than Madoff or Holmes. Then again, he's been much more out in the open about everything. He pretty much laid the prosecution's case out to the public for them.

I think SBF made it too easy and the fact that he has been on a media frenzy trying to play innocent here must be a slap in the face to the AG.

He seemed to be throwing out the idea there maybe some way to make all the money back and provide restitution. More like a PR ploy IMO.

Re: SBF Arrested by Bahamian Authorities

#172

Post by stusmall »

listenallyall wrote: post #148
object-a wrote: post #120

Earlier quoted context omitted.

What's an example of a puff piece?

The NYT profiling him as a well-meaning genius who was so focused on fixing climate change and education that he just overlooked a few things at his company, gosh darn it.

I've seen a few people say that was a puff piece. I thought it made him look bad and covered the accusations of fraud. What are folks looking for? A headline directly calling him a villain?

Ha, After typing this I went to double checked my memory of the article. They literally refer to him as a villain in the first paragraph. Even my hyperbole can't stand up.

Re: SBF Arrested by Bahamian Authorities

#173

Post by bb88 »

throw_m239339 wrote: post #23
Forge36 wrote: post #10

Earlier quoted context omitted.

Maybe this was the only way to ensure he testified

> Maybe this was the only way to ensure he testified Nope, it doesn't make any sense to arrest him if the goal was to force him to testify in front of congress. Once he is placed under arrest then I'm pretty sure the house cannot make him testify if he is in custody, he becomes at the mercy of a judge and I imagine bail conditions will not allow him to talk in public about the case either.

> Once he is placed under arrest then I'm pretty sure the house cannot make him testify if he is in custody.

I think they can since they have vast subpoena power. SBF, however, can plead the 5th -- which would make it nothing more than a TV spectacle.

Re: SBF Arrested by Bahamian Authorities

#174

Post by zeven7 »

misiti3780 wrote: post #6

I guess this means he wont be testifying tomorrow ? https://techcrunch.com/2022/12/12/sbf-scheduled-to-testify-t...

He refused to testify shortly before the arrest https://www.cnbc.com/2022/12/12/former-ftx-ceo-sam-bankman-f...

Is there anyway the arrest is in response to the refusal to testify? Or just coincidental timing?

Re: SBF Arrested by Bahamian Authorities

#175

Post by siftrics »

mrhands556 wrote: post #149
siftrics wrote: post #85

Friendly reminder that he could not have stolen the deposits in the manner he did if this was on-chain and the users self-custodied. Yes, DEXs exist. Yes, you can self-custody on DEXs.

That’s equivalent to saying if a bank goes insolvent you should’ve had your money in a safe at home. For crypto yes you can have a hard wallet, but it can still be stolen from you without anyone physically touching your hard wallet. I don’t and won’t see the appeal for crypto until it has a killer app that people NEED to use for another reason than “I can get rich quick”

> that people NEED

All the depositors have the extremely pressing NEED of not having all their deposits stolen from them.

Blockchains mathematically prevent fraudulent misuse of deposits.

People aren't mad about SBF taking a wrench to their head. They're mad about SBF defrauding them.

Could not have happened on a blockchain.

Re: SBF Arrested by Bahamian Authorities

#176

Post by eddsh1994 »

ksherlock wrote: post #76
esturk wrote: post #43

Now we'll see if having both parents who are Stanford Law Professors, and possibly many other legal minded connections, will save him from going to jail.

Per today's WSJ article, they're currently in the Bahamas with him. https://www.wsj.com/articles/sam-bankman-frieds-parents-were...

Wouldn't you be with your child when the world media is talking about him? They are not teaching at Stanford next year anyway.

Re: SBF Arrested by Bahamian Authorities

#177

Post by adra »

bandyaboot wrote: post #112
tacker2000 wrote: post #89

Earlier quoted context omitted.

Dont forget the political donations as well…

The political donations that demonstrate high corruption within government and will prevent him from facing consequences…or something.

Ah, remember those times that crypto was heralded as some sort of wedge against "2008-level government sponsored corruption? , That was a nice thought while it lasted.

Don't get me wrong though, I'd say 2008 was blamed a lot on an industry that largely played fairly outside of some truly revolting players. Letting too many bent actors get away with their misgivings emboldens the next generation, and you could certainly argue a lot of this next generation of bent actors are playing fast and loose in crypto.

Re: SBF Arrested by Bahamian Authorities

#178

Post by throw_m239339 »

aliljet wrote: post #131
dereg wrote: post #104

Earlier quoted context omitted.

It's clear Caroline Ellison has turned against him. Stephanie Avakian, former SEC enforcement chief, is representing her in NY. I'm guessing they wouldn't have been able to file charges this quickly without Caroline becoming a cooperating witness.

Can you explain what makes this so clear?

It's purely my opinion:

She was staying completely silent since the moment FTX collapsed while he was spilling the beans everywhere. She obviously cut a deal while he was parading on social media for god knows what reason instead of shutting his mouth. SBF is a complete moron who didn't understand how the party was already over for him, I put it on his upbringing given the kind of ideology his scholar parents preach at university, especially the bits about personal responsibility...

Re: SBF Arrested by Bahamian Authorities

#179

Post by [deleted] »

function_seven wrote: post #136
fasthands9 wrote: post #94

Earlier quoted context omitted.

Yeah but that was a very shitty prediction. It appears the charges filed were by SDNY which if anything is known for being anti-Trump. Essentially a bunch of democrat appointed attorneys arrested him.

Not only shitty, but opposite of how you'd expect. When a high-profile donor does a high-profile crime—and when they're certainly not going to be a fundraiser in the future—the recipient of those donations has a lot of motivation to distance themselves from the fraudster, to be harsher in their actions, to respond to pressure and sever any perceived ties.

[deleted]

Re: SBF Arrested by Bahamian Authorities

#180

Post by hgdfhgdfhgdf »

stusmall wrote: post #172
listenallyall wrote: post #148

Earlier quoted context omitted.

The NYT profiling him as a well-meaning genius who was so focused on fixing climate change and education that he just overlooked a few things at his company, gosh darn it.

I've seen a few people say that was a puff piece. I thought it made him look bad and covered the accusations of fraud. What are folks looking for? A headline directly calling him a villain? Ha, After typing this I went to double checked my memory of the article. They literally refer to him as a villain in the first paragraph. Even my hyperbole can't stand up.

- They didn't call out the conflict of interest between FTX and Alameda

- No question about commingling funds between FTX and Alameda

- No question about his relationship with Alameda's CEO

- No mention of the tweets he deleted

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