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paulfromatlanta t1_iwsq19h wrote

Well, that would explain why he didn't go somewhere else with no extradition...

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givemeabreak111 t1_iwu85uf wrote

Well color me shocked .. the fat ugly ponzi schemer is hiding all his stolen assets! .. too bad about the Patriot Act

.. all i got to say is "Watch your cornhole Peter"

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Girth_rulez t1_iwxjpbg wrote

On behalf of the fat and ugly, please do not lump us in with his douchebag. And can we please dispense with the idea that his looks are somehow interconnected with his terrible deeds?

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givemeabreak111 t1_iwxpexz wrote

My Apologies to the optically challenged .. but this will definitely become a factor at his upcoming trial in front of a congressional committee on Bitcoin fraud (or maybe this is wishful thinking)

.. I hope that men like him get roasted on a spit in court so maybe Bitcoin can remain something useful and not a place for thieves like him to steal from others

.. yes I agree .. that outward appearance does not always correlate to personal character

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Der_Missionar OP t1_iwsnx8d wrote

FTX in a bombshell emergency court filing Thursday said evidence suggests Bahamian regulators directed former CEO Sam Bankman-Fried to gain “unauthorized access” to FTX systems to obtain digital assets belonging to the company after it had filed for bankruptcy protection.

The filing said that Bankman-Fried transferred those assets to the custody of the Bahamian government.

The accusations were made by FTX in a motion in the United States Bankruptcy Court in Delaware. In that motion, FTX said the alleged conduct puts “In serious question” a request by Bahamian regulators for recognition as liquidators in the bankruptcy.

FTX in a bombshell emergency court filing Thursday said evidence suggests Bahamian regulators directed former CEO Sam Bankman-Fried to gain “unauthorized access” to FTX systems to obtain digital assets belonging to the company after it had filed for bankruptcy protection.

The filing said that Bankman-Fried transferred those assets to the custody of the Bahamian government. It cites an interview published by Vox on Wednesday where Bankman-Fried expresses serious disdain for regulators.

“F--- regulators,” he said in the interview. “They make everything worse. They don’t protect customers at all.”

“You know what was maybe my biggest single f----p?” he asked. “Chapter 11.”

The accusations were made by FTX in a motion in the United States Bankruptcy Court in Delaware. In that motion, FTX said the alleged conduct puts “in serious question” a request by Bahamian regulators for recognition as liquidators in the bankruptcy.

″[I]n connection with investigating a hack on Sunday, November 13, Mr. Bankman-Fried and [FTX co-founder Gary] Wang, stated in recorded and verified texts that “Bahamas regulators” instructed that certain post-petition transfers of Debtor assets be made by Mr. Wang and Mr. Bankman-Fried (who the Debtors understand were both effectively in the custody of Bahamas authorities) and that such assets were “custodied on FireBlocks under control of Bahamian gov’t,” the filing said.

“The Debtors thus have credible evidence that the Bahamian government is responsible for directing unauthorized access to the Debtors’ systems for the purpose of obtaining digital assets of the Debtors—that took place after the commencement of these cases. The appointment of the JPLs and recognition of the Chapter 15 Case are thus in serious question,” the filing continued.

Sam Bankman-Fried was not immediately available to comment. The law firms representing FTX, Landis Rath & Cobb and Sullivan & Cromwell, did not respond to a request for comment. CNBC did not immediately receive a response to an email to the Securities Commission of the Bahamas.

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Insectshelf3 t1_iwstgzg wrote

SBF trying his best to become the first person ever sentenced to death for financial crimes

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Der_Missionar OP t1_iwsw174 wrote

At best he's completely incompetent, at worst, he knew exactly what he was doing, and had no empathy at all for the repercussions....

All signs point to the latter. If so, this dude is a psychopath.

Yet i have a nagging feeling, he's also incompetent, which is a truly scary combination.....

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Insectshelf3 t1_iwswd0y wrote

oh he knew. nobody conducts business over signal with self deleting messages because their conduct is unimpeachable.

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carlosdangermouse t1_iwt4aim wrote

I’ll point out that both his parents are law professors and his father visited him in the Bahamas. He did not cook this up all on his own…

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PinwheelsAndUnicorns t1_iwswpsm wrote

>Yet i have a nagging feeling, he's also incompetent

I kind of have that feeling, too. White collar criminals are understudied imo.

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calumin t1_iwtokh4 wrote

I don’t think anybody is going to buy an incompetence defense. Delusional, reckless, and suffering from megalomania, yes, but not incompetent.

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mces97 t1_iwszxuh wrote

You know who are also often classified as having sociopathic traits? Rich ass CEOs and rich businessmen. And he is going to be looking over his shoulder for the rest of his life.

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Hemske t1_iwu3hfp wrote

This is the guy who made his fortune arbitrage trading.

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Mostest_Importantest t1_iwt5mhe wrote

To me, all this evidence points to SBF being the patsy that was inflated by old billionaires and groomed since high school or college by financier top-tier assholes.

Yeah, SBF is gonna be on the hook for billions, but I'll bet his handlers pulled trillions from governments and private citizens with nothing but a very faint watermark on all the money transfers, coming and going.

The more I learn about SBF, his sultry wood nymphs, and the complete lack of ability to swim in the deep end of financial systems and their vernaculars has me believing that it's a lot more likely that the true players of global finances found in him a very useful idiot.

Like... I'll bet SBF couldn't even give state's evidence against his handlers, because he knows, understands, and reflects such simplistic thought processes through the whole thing.

The dude tried deleting tweets? Any competent public, social, financial figure knows there's no deleting shit off the internet. Somebody's always recording that shit.

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mces97 t1_iwszt2u wrote

He's gonna commit "suicide." And in quotes cause you know what I mean.

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essh10151 t1_iwtknx7 wrote

honesty top crypto comment of the year

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a1b3c3d7 t1_iwu5487 wrote

Fuck regulators says the guy who screwed over millions of people because of the lack of regulation.

Doing a real good job of showing us your point there buddy.

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FerrumVeritas t1_iwxuo2c wrote

The whole “let anarchists handle your investments” crypto vibe is so full of red flags, I can’t see how anyone but the most addicted gamblers would fall for it

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a1b3c3d7 t1_iwybtn8 wrote

Even if you are a hardcore nutcase gambler, who has little regard for their money… surely even you can smell at least some of the stinky stank reeking from this… right..?

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SnacksandKhakis t1_iwug568 wrote

What’s interesting is that he was an active advocate for centralized regulation—working directly with politicians and the SEC to draft crypto regulation. Now he’s allegedly saying “f—k regulators”?? The purpose of decentralized finance is to proverbially “f—k regulators.” From the outside looking in, it seems like SBF was, is, and probably will do whatever it takes to put himself on top.

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officeDrone87 t1_iwujgbv wrote

Read his DMs leaked by Vox. He admitted he only did that stuff for show.

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Der_Missionar OP t1_iwukegk wrote

He has zero remorse for everyone whose money he stole and used

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SnacksandKhakis t1_iwukpfy wrote

I didn’t see those. Thanks for pointing me in that direction. His whole facade of altruism is quickly melting away.

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snakebite75 t1_iwu2hrk wrote

Rookie mistake, everyone knows you move your money into your shell companies before you file bankruptcy...

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nemworld t1_iwuc0v3 wrote

That’s what I was thinking when I read the headline. AFTER?!?!?

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givemeabreak111 t1_iwvz8ek wrote

Bankman : I know .. I will hide all my money in the Bahamas and put my account number in Yahoo mail for safe keeping! .. then shove a few crayons up my nose ..

.. a true criminal mastermind

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HappyFamily0131 t1_iwun7tf wrote

Bankman-Fried seems like such an absolutely clueless dudebro.

Like, he seems to have fallen ass-backwards into a double-platinum opportunity, a literal once-in-a-generation moment of good fortune worth tens of billions, and in less than 5 years it's just gone. I truly think somewhere under all that stupid is a guy with good intentions, but I think it's drowned deep in greed and egotism.

The only way to allow someone like him be a good person is for him to have no money or power, and instead fate handed him the GDP of a small country.

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djblockchainz t1_iwsxcce wrote

Welp, time for the next chapter in his life… Chapter 13

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Hemske t1_iwu38gl wrote

Imagine trusting this pen troll with your Bitcoin 🙈

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ch33s3brgr t1_iwuqviy wrote

I’m not sure from the things I’m reading so far. It’s not clear- has the final resting place of all the money been determined? Or is it all still floating somewhere? I understand crypto is complicated and all that. But I’m asking where is the money now- because it was somewhere and now it’s not- do we know?

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rufusjfisk t1_iwur5ed wrote

wow, they really really feel that they DESERVE to be rich still after all they did. Assholes.

1