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The United States of America vs. Samuel Bankman-Fried Indictment [pdf]
381–388 of 388 posts
Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]
#382Earlier quoted context omitted.
This part's pretty incorrigible: "I have potentially pertinent information concerning future opportunities and financing for FTX and its creditors."
> This part's pretty incorrigible Sorry I don't understand. Can you elaborate?
He kept reaching out to the Chapter 11 exec with a fantastic (as in fantasy) notion that he knew a potential investor willing to sink billions of dollars into paying back users, then wondered why he wasn't getting a response. The exec had already told him, "There's nothing to save Sam". Can't imagine any sane investor throwing away $8B+ of their own money to dig FTX out of their hole.
Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]
#383Let’s see if his ‘I’m baby’ defense works in court.
Let's see if he goes full "My dad is Li Gang!"
Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]
#384Can we discus recovery? The Madoff trustee was able to recover something like 90% of the Madoff Ponzi. Alameda and FTX's real estate purchases have value, as do their VC investments, purchases of bank stock, etc. In other words, it's not all gone. My understanding is that even some of the political contributions can be clawed back. FTX's purchases of IOU's (i.e., crypto) that declined in value are not likely to be re…
The problem is opportunity cost. People invested in Madoff to grow their money. So if I invest $100 in Madoff and ten years later they say “we recovered $90, congrats,” yeah that’s better than nothing. But if I had put that into a legitimate investment, maybe I’d have $180. Other folks got money out of Madoff during his scam years, and the trustee says “I’m taking that money back to pay back others.” So much of crypt…
Did Tom Brady actually receive the payment?
Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]
#385Earlier quoted context omitted.
The problem is opportunity cost. People invested in Madoff to grow their money. So if I invest $100 in Madoff and ten years later they say “we recovered $90, congrats,” yeah that’s better than nothing. But if I had put that into a legitimate investment, maybe I’d have $180. Other folks got money out of Madoff during his scam years, and the trustee says “I’m taking that money back to pay back others.” So much of crypt…
On this note I am curious if political organisations will be required to give back the donations he made. It seems the right thing if they were stolen funds. But being politicians I'm curious if it will be rules for thee and not for me.
We just had an election as well, which means most of that money would have been spent. How far can they chase it down? I can’t imagine random campaign staffers needing to pay back their wages.
Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]
#386Can we discus recovery? The Madoff trustee was able to recover something like 90% of the Madoff Ponzi. Alameda and FTX's real estate purchases have value, as do their VC investments, purchases of bank stock, etc. In other words, it's not all gone. My understanding is that even some of the political contributions can be clawed back. FTX's purchases of IOU's (i.e., crypto) that declined in value are not likely to be re…
The problem is opportunity cost. People invested in Madoff to grow their money. So if I invest $100 in Madoff and ten years later they say “we recovered $90, congrats,” yeah that’s better than nothing. But if I had put that into a legitimate investment, maybe I’d have $180. Other folks got money out of Madoff during his scam years, and the trustee says “I’m taking that money back to pay back others.” So much of crypt…
I'd say there is a good chance they can claw back some of the endorsement money. A celebrity endorser is more than just some vendor, it is someone that is lending credence to the scam either wittingly or unwittingly.
Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]
#387Can we discus recovery? The Madoff trustee was able to recover something like 90% of the Madoff Ponzi. Alameda and FTX's real estate purchases have value, as do their VC investments, purchases of bank stock, etc. In other words, it's not all gone. My understanding is that even some of the political contributions can be clawed back. FTX's purchases of IOU's (i.e., crypto) that declined in value are not likely to be re…
The problem is opportunity cost. People invested in Madoff to grow their money. So if I invest $100 in Madoff and ten years later they say “we recovered $90, congrats,” yeah that’s better than nothing. But if I had put that into a legitimate investment, maybe I’d have $180. Other folks got money out of Madoff during his scam years, and the trustee says “I’m taking that money back to pay back others.” So much of crypt…
> Other folks got money out of Madoff during his scam years, and the trustee says “I’m taking that money back to pay back others.”
I wonder if things like the political donations could be clawed back.
Re: The United States of America vs. Samuel Bankman-Fried Indictment [pdf]
#388Earlier quoted context omitted.
> Let’s see if his ‘I’m baby’ defense works in court. It was a foolish move to open his mouth at all on the matter, let alone go on every podcast that invited him and took every interview to spout his self-incriminating non-sense and riling up the Media and the public's ire in the process. If that was his goal, he has terribly failed to establish anything that suggests it will work Worst yet... is his choice for chie…
Is that the kind of high end lawyer you get when other high end lawyers say ‘No’?
No, it’s the kind of lawyer you can buy with money whose origins you can’t explain.