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Sam Bankman-Fried found guilty on all counts at fraud trial over crypto exchange FTX
(www.nbcnews.com)
Where's my money Sam?!?
this post was submitted on 03 Nov 2023
102 points (98.1% liked)
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Hey man, I’m selling some new crypto.
It’s called totally-not-a-scamcoin and as the name suggests it’s not a scam.
Give me your money and I’ll put you on the blockchain.
Try my new griftocurrency.
I've got five bucks. Will that much totally-not-a-scamcoin make me a multimillionaire in 4 years?
There’s a chance you could be a millionaire next year.
I'm all in! (for five bucks)
What’s the worse that could happen?
Dr Pepper?
Just maybe, the rules apply to everyone.
He took from rich investors like Madoff. He's going to pay at least some. Given who is parents are not as much as the rest of us.
If you need a refresher on reality, take a look at Clarence Thomas's tax cheating ass.
Or Trump, who is going to skate on the classified documents case because of a crooked judge.
Only if we let them
This is the best summary I could come up with:
Sam Bankman-Fried, once hailed as a genius in cryptocurrency, was found guilty Thursday of all fraud counts against him, a year after his exchange, FTX, imploded and practically wiped out thousands of customers.
Bankman-Fried, a co-founder of the digital currency exchange FTX, was charged with seven counts of wire fraud, securities fraud and money laundering that swindled customers of FTX and lenders to its affiliated hedge fund, Alameda Research.
Bankman-Fried “perpetrated one of the biggest financial frauds in American history,” Damian Williams, the U.S. attorney for the Southern District of New York, said after the verdict.
Unnerved by disclosures about the firm's financial position, many of FTX’s customers tried to get their money back.
Bankman-Fried’s lawyers contended that he did not intend to defraud anyone and that the government was looking for someone to blame after the failures of FTX and Alameda.
“It’s a warning, this case, to every single fraudster out there who thinks that they’re untouchable or that their crimes are too complex for us to catch or that they’re too powerful for us to prosecute or that they could try to talk their way out of it when they get caught,” he said.
The original article contains 658 words, the summary contains 196 words. Saved 70%. I'm a bot and I'm open source!
Fried won't be freed?
Sam Bankman-Imprisoned
I was cleaning my room and found an old fortune cookie slip with "it's a doge eat doge world" on one side and the FTX logo on the other. I just shook my head and chuckled.
Can’t wait to see how the 1:1 GME tokens are resolved
Do this dude lost your money yet ?