Disgraced FTX founder Sam Bankman-Fried found guilty on fraud charges

[mystery-ak]

Published November 2, 2023 7:54pm EDT
Sam Bankman-Fried found guilty on fraud charges
FTX founder faces a second criminal trial related to the collapse of his crypto empire in March

By Breck Dumas FOXBusiness

FTX founder Sam Bankman-Fried has been found guilty on all charges related to the collapse of his now-bankrupt cryptocurrency exchange in the first of two criminal trials against the former CEO.

A New York jury in Manhattan federal court agreed with prosecutors that Bankman-Fried defrauded investors, customers and lenders in connection with the collapse of his crypto empire.

Prosecutors accused Bankman-Fried, who founded and controlled both FTX and sister hedge fund Alameda research, of misappropriating and embezzling billions of dollars in FTX customer deposits, scheming to mislead investors, and instructing other executives at his businesses to do the same.

In the trial, he faced seven charges: Two counts of wire fraud and five conspiracy counts. The charges combined amount to a maximum sentence of 110 years behind bars.

Several members of Bankman-Fried's inner circle testified against him during the trial. The prosecution's key witnesses were Caroline Ellison – Bankman-Fried's ex-girlfriend and the former CEO of Alameda Research – as well as FTX co-founder Gary Wang and former FTX engineering chief Nishad Singh. The trio had all previously pleaded guilty and agreed to cooperate with the government.

more
https://www.foxbusiness.com/markets/sam-bankman-fried-guilty-fraud-charges

[GtHawk]

How long before Biden(Obama) promises to pardon him to keep him from spilling all the details about how much money and to which democrats to cut a deal.

[Sighlass]

How long before Biden(Obama) promises to pardon him to keep him from spilling all the details about how much money and to which democrats to cut a deal.

I guess that does need to be remembered, this fellow was a huge democrat donor. Just how much was funneled into coffers of liberals we may never know.

[catfish1957]

I guess that does need to be remembered, this fellow was a huge democrat donor. Just how much was funneled into coffers of liberals we may never know.

50:50 he gets Epsteined before spilling any beans on the "good stuff"

[Wingnut]

50:50 he gets Epsteined before spilling any beans on the "good stuff"

Me thinks the fat boy is gonna be someones bitch in the big house. 

[mountaineer]

Benny Johnson
@bennyjohnson
The Largest Democrat Donor in America is going to prison for 115 years for stealing hundreds of millions and giving it to Democrats.
Time for the scumbags on this list to be investigated too and sued for fraud as well.
You invested in FTX and lost - Joe Biden won.

9:15 PM · Nov 2, 2023

Around 40% of Congress received donations from SBF and FTX that were mixed user funds.

https://twitter.com/unusual_whales/status/1720252868526268842

[mountaineer]

Collin Rugg
@CollinRugg
REPORT: Crypto scammer Sam Bankman-Fried's parents broke down in tears after the guilty verdict was read that could send SBF away to prison for life.

Bankman-Fried was found guilty late Thursday evening for embezzling $10 billion of his clients' money.

It gets better. SBF's mom reportedly put her fingers over her ears so she couldn't hear what the judge was saying. His father reportedly put his face in his hands.

Raise a better kid next time.

Although SBF was found guilty, questions still remain surrounding his political donations. Throughout the 2022 midterm cycle, SBF donated $40M to Democrat-aligned PACs.

Joe Biden, whose 2020 campaign received $5 million from SBF, has yet to make any move to return the dirty money.
2:45 PM · Nov 3, 2023

[mountaineer]

UPDATE - Dec. 29, 2023

Sam Bankman-Fried donated $100 million in stolen customer funds to US politicians. Today, the US Government announced they're dropping six charges against SBF and will not prosecute him for a political campaign finance violation.

https://twitter.com/WatcherGuru/status/1740941426236752039

[catfish1957]

UPDATE - Dec. 29, 2023

Sam Bankman-Fried donated $100 million in stolen customer funds to US politicians. Today, the US Government announced they're dropping six charges against SBF and will not prosecute him for a political campaign finance violation.

And doing it right under our noses, without remorse.  I am getting numb to shocking news.

[mountaineer]

And doing it right under our noses, without remorse.  I am getting numb to shocking news.

I'm afraid we're getting numb to corruption, lies and injustice. 

[mystery-ak]

DOJ torched after prosecutors announce Sam Bankman-Fried will not face trial on illegal political donations
'The DOJ has shown again, that it is NOT an independent agency,' CryptoLaw founder John Deaton said of the matter
 By Kyle Morris Fox News
Published December 30, 2023 3:42pm EST

The decision to avoid a second trial charging Sam Bankman-Fried with a conspiracy to make unlawful political donations and bribery of foreign officials has many conservatives up in arms.

Federal prosecutors said Friday that they do not plan to proceed with a second trial against Sam Bankman-Fried, citing public interest in a speedy resolution of the case that has seemingly irritated those who were hoping to see the disgraced FTX founder prosecuted to the fullest extent.

In a Friday letter filed in federal court in Manhattan, prosecutors said they do "not plan to proceed with a second trial" as "much of the evidence that would be offered in a second trial was already offered in the first trial and can be considered by the Court at the defendant’s March 2024 sentencing."

"Given that practical reality, and the strong public interest in a prompt resolution of this matter, the Government intends to proceed to sentencing on the counts for which the defendant was convicted at trial," the prosecutors added.

The decision by prosecutors not to hold a second trial against Bankman-Fried quickly drew backlash from those who had followed the case.

"So we won’t know which politicians he bribed or who’s campaigns he influenced? That collective sigh of relief you are hearing is from the DEEP STATE," Rep. Tim Burchett, R-Tenn., wrote in a Friday night post to X.

https://twitter.com/timburchett/status/1740970490200523025

more
https://www.foxnews.com/politics/doj-torched-prosecutors-announce-sam-bankman-fried-face-second-trial

[mountaineer]

In a Friday letter filed in federal court in Manhattan, prosecutors said they do "not plan to proceed with a second trial" as "much of the evidence that would be offered in a second trial was already offered in the first trial and can be considered by the Court at the defendant’s March 2024 sentencing."

That seems a somewhat ... unusual ... position for a prosecutor to take.

[mountaineer]

Paul Sperry
@paulsperry_
DEVELOPING: DOJ prosecutor who just dropped the (Dem) campaign financing charges vs Sam Bankman-Fried is tied to OBAMA FOUNDATION thru his wife. Biden-appted US Attorney Damian Williams is also former SOROS fellow who clerked for AG Garland & was an aide to ex-DNC chair McAuliffe
4:05 PM · Jan 2, 2024

[mystery-ak]

Exclusive — Venture Capitalist Nic Carter: Biden DOJ Overlooking ‘Biggest Campaign Finance Scandal in a Generation’ By Not Charging Sam Bankman-Fried

Venture capitalist Nic Carter told Breitbart News in an exclusive statement that the Biden DOJ has exposed its agenda as “nakedly political” by not prosecuting Sam Bankman-Fried for his allegedly unlawful political donations.

https://www.breitbart.com/politics/2024/01/02/exclusive-venture-capitalist-nic-carter-biden-doj-overlooking-biggest-campaign-finance-scandal-generation-not-charging-sam-bankman-fried/

[mountaineer]

First photo of Sam Bankman-Fried in jail at MDC Brooklyn.

https://twitter.com/TiffanyFong_/status/1759766268385935564

[GtHawk]

First photo of Sam Bankman-Fried in jail at MDC Brooklyn.

https://twitter.com/TiffanyFong_/status/1759766268385935564

I'm pretty sure there is money going into that prison to keep the POS safe.

[mountaineer]

Collin Rugg
@CollinRugg
NEW: The first photo of Sam Bankman-Fried in jail has been released, showing him hanging out with gangsters. The photo was obtained by @TiffanyFong_ and shows him inside New York's Metropolitan Detention Center.

An inmate described SBF as “strange as s**t” and said he is “skinny as a toothpick.”

“Sam is more gangster than Tekashi69, Sam Bankman stood on all ten toes. Tekashi ratted,” said inmate G Lock. “He's a good guy, he really is. Weird as s**t, can be strange. But he is a good guy.”
Right where he belongs.
9:02 AM · Feb 20, 2024