S B-F Jailed, Charges Pending
Sam Bankman-Fried
Cryptocurrency is a digital payment system that doesn’t rely on banks to verify transactions. It exists virtually and uses cryptography to secure transactions. An encrypted, distributed public ledger called blockchain records the transactions. There is nothing tangible and no central issuing or regulating authority.
Whatever could go wrong?
Sam Bankman-Fried, FTX founder, charged with fraud, money laundering
The founder of the cryptocurrency exchange FTX was arrested in the Bahamas a day before he was to testify before Congress
By Louis Casiano , Marta Dhanis FOXBusiness
Federal authorities on Tuesday disclosed more details in their case against Samuel Bankman-Fried, the disgraced founder of the cryptocurrency exchange FTX, a day after he was arrested in the Bahamas.
Bankman-Fried is accused of defrauding customers and investors to fund a lavish lifestyle, officials said. Federal prosecutors said beginning in 2019, he diverted investors’ money to cover expenses, debts and risky trades at his crypto hedge fund, Alameda Research, in addition to making lavish purchases and illegal campaign contributions without telling his customers, according to a 13-page indictment.
“All of this dirty money was used in service of Bankman-Fried’s desire to buy bipartisan influence and impact the direction of public policy in Washington,” Damian Williams, the U.S. Attorney for the Southern District of New York, said during a news conference.
He is charged with eight criminal offenses, ranging from wire fraud to money laundering to conspiracy to commit fraud. Williams called the case “one of the biggest frauds in American history.”
Bankman-Fried was arrested by Bahamian authorities at the request of the U.S. government, a day before he was slated to testify before the House Financial Services Committee, along with FTX’s current CEO, John Ray III.
P.T. Barnum would be stunned. The A-List celeb endorsers face a class action lawsuit worth $11 billion. Dem dirty donation recipients are shaking in their boots. -Fried is looking at, if the maximum punishment for all the charges against him are totaled, up to 612,000 years in Club Fed in accordance with current federal sentencing guidelines. Hope he takes a Hunter plea refusal- see ya in court!
To the millions who invested in this, person because Giselle said to- seriously? Caveat Emptor.
Category: "Teh Stoopid", Crime, Economy, General Whackos, Legal, Media, Points-and-Laughs, Schadenfreude
This guy makes Bernie Madoff look like an amateur.
Oh no, the Madoff Ponzi scheme was in it for nearly $70B. Hell, they made him chairman of the NASDAQ. Madoff spent only a million or so on lobbyists and less than that in direct donations to practically all Democrats.
All the crypto ponzi-money laundering schemes are starting to have a come apart. Bit-Coin is down 75% off it’s 18 month high. It’s getting weird market support from players trying to cover the losses but there will almost certainly be more big casualties. When that one has the come apart it will be wild. People borrowed billions of dollars to “mine” coins and now they aren’t worth what was spent on them. People in China and India are MAF.
I really feel for the South American countries that were suffering being pegged to US dollar, jumped on BTC, and now are double fuct.
As much as I can see the utility argument for Bitcon I also saw the Ponzi/tulip mania festering. Just like a casino: …only the ‘money’ you’re willing to lose.
Glad I parsed my holdings to cover initial investment back in 2020. Gotta get them out of coinbase soon, jic.
Ah, a lot of that SA traffic is drug trade money. I’m not shedding any tears over it. They only real question is: What are they going to do about?
Because it is one thing when some techno geek loses his life savings and quite another when a Ecuadorian Drug Lord loses his.
And what’s not from the drug trade is from some other type of corruption. No tears here. They’re busily voting themselves into slavery. The rise of left wing governments throughout Central and South America is only going to make things harder on us. I have no pity for any of them. I’m glad my family left Mexico and came to this country in the 60’s…legally.
“I really feel for the South American countries that were suffering being pegged to US dollar, jumped on BTC, and now are double fuct.”
I was wondering why he didn’t run to a Central/South American country without an extradition treaty with the U.S. Now it makes sense why he jumped to the Caribbean.
Even without considering those factors, his gabacho ass wouldn’t last 5 minutes in “el defe”, let alone some of the more thrilling cities in the region such as Nuevo Laredo, Ciudad Juarez, Culiacán, or anywhere that MS-13 holds sway. If he was smart, he would’ve boogied to a Greek island in the Aegean. Sunny skies and no extradition.
Thanks for the Spanish lesson, mustang. I had to look up gabacho. I think Mexico guru web site cleaned it up a bit. Your translation is probably more colorful.
Heard of the Columbian necktie?
It’s what all of the trendsetters are wearing this season! 👔 🤣
Yes.
Thanks for the 1980’s throwback.
There aren’t any non-exradition countries in the Americas. Most of Islamic Countries and few others. He would have been better off in Qatar though. Just the right level of corruption too.
Cuba is part of the Americas right? Last I heard, the Cubans ain’t giving us Joanne Chesimard and she’s a convicted murderer who escaped from prison. Also, the Mexicans never extradite capital murder suspects until they get an agreement from prosecutors to not seek the death penalty. Also, do you really think the Venezuelans would extradite someone to the USA?🤣 There may not be any non-extradition countries in the Americas on paper, but reality seems just a tad different.
Techincally there is extradition from Cuba, but realistically of course there isn’t. But why would you want to live in that shit hole? I’d take Morocco over Cuba any day.
Well, I think Chesimard is living better in Cuba than she would be in a New Jersey prison cell. Curious to see how she’s actually living since she serves a propaganda purpose to the regime. Venezuela would be another matter entirely. I’d take a prison cell over Venezuela.
I wonder if Hill-Dawg invested in this scheme? If she did, SBF’s Arkancide watch better be good.
SBF did not kill himself! Too soon?
You have wait until the cameras go out in the cell on a laundry day.
Hack Stone is laying down 5 big ones, that’s $5, US Currency, that Samuel Bankman-Fried is found Epsteined in his cell by 19:00 Eastern Sunday evening. Get your bets in now.
As long as it’s actual dollars and not crypto or company scrip from your employer…🤣
Wooden nickels good to go?
$5 worth of material value in pre-’82 pennies is 198 of them at 2.53¢/per.
edit: I have a cold so checking out for the rest of the evening. May all your convos be fruitful and for all the propaganda foist upon these dumb Ameriki may your russian remunerations be hefty.
slavmah derpkraiushsa!!
Spasiba, Pyos!
His new jailer is reporting for duty…
Yeah, that chubby fuck ain’t gonna make it to trial. Fuck that guy. I look forward to reading his obituary.
Opening betting pool, $420.69 says he don’t make it to Midnight Eastern Time on 03JAN23.
The ‘mostly peaceful’ coverup will necessitate his inability to cooperate.
But hey, it’s only criminal if you get caught…and someone (read: We, the plebs) can prove it!
F KING BAGS OF D0UCHE
When the US Marshals pick him up for transport he will volunteer to go fight the fire at the FBI Evidence Warehouse. Pity that he was not a trained fireman. Tragic accidents can happen. I heard that he was trying to save a laptop and the lithium ion battery exploded, taking out him and the laptop.
Agent Mx. Smith plus-ones this guy:
In the town where Hack Stone’s lovely bride came from, some dirtbag kidnapped, raped and left for dead in a ditch a girl about 8 years old. Suspect was quickly apprehended, and after a few days in custody, while being interrogated, he “grabbed a police officers gun” and was promptly shot to death by the cops in the room. Those cops should get a certificate from the Sanitation Commissioner for taking out the trash.
Hack just posted above. It’s going to be quick one, gone by 19:00 Eastern this Sunday night. No way he lasts the weekend in custody.
Last I read, the Bahamian judge denied him bail and remanded him to the only prison in the island, which is known for overcrowding and deplorable sanitary conditions. He sought bail on the grounds that he’s a vegan and that being incarcerated would lead to depression. He’s making it a little too easy when the inevitable happens.
Vegan? Depression? He’s about to get murdered by any number of people that can, will and are probably on their way to kill him. It’s no coincidence he was picked up a day before testifying. Clintons want him quiet.
I know, but him claiming depression will be used to call whatever happens a “suicide.”
He will be a plaything first. ” Choose death, or bungo bungo”.
At least until he hands over the code keys.
Just found this…
“ An encrypted, distributed public ledger called blockchain records the transactions. There is nothing tangible and no central issuing or regulating authority.”
Except his crypto currency did have a central issuing authority and the blockchain it was on was not fully public.
Bitcoin and proof of work blockchains use public records to validate transactions and it requires a majority to change. For Bitcoin that is over a million people.
Still not something to put lots of money into. If you would not put the money on #27 in vagas, don’t put it on Bitcoin.
To soon?
Save it. I get the feeling you’ll get the opportunity to use it REAL soon.
He’s sauteed.
More like fricassee, ya gotta have the gravy!
His commie mommy “…is a co-founder of the political fundraising organization, Mind the Gap, which advocates for Democratic Party candidates and funds get-out-the-vote groups. Mind the Gap was described by Vox Media as ‘Silicon Valley’s secretive donor group’ in January 2020. In 2018, Fried donated $75,000 to Mind the Gap. In November 2022, Fried stepped down from her position with Mind the Gap.”
His lawer/professor daddy is also eyeballs deep in the scam. Being knowledgeable insiders, both are unlikely to survive their whiz-kid offspring by any meaningful length of time.
First ever recorded instances of collateral deaths from an Arkancide… 😏
A three-way Arkancide? Intriguing…I look forward to reading all of their obituaries with great satisfaction.
Such a shame that three members of the same family will be succumbing to Coronavirus.
Tied to too many big time Democrats.
Unfortunate and convenient accident/suicide coming soon.
He’ll get the chance to tell Jeffrey Epstein that all his friends said hello real soon.
This prick’s cancer is spreading.
Who’s next?!
I’m glad that hedge funds and big banks were smart enough to avoid such rank speculation.
Right?
I’m starting my own trading platform called the Basel Hammer and our token, The Volcker Loophole, is going moon!
see below for how SDR/Fed member institutions make currency units appear:
Actually, the film-flammery that they pull is more along the lines of, “I will gladly pay you Tuesday for a hamburger today.” They just never tell you which Tuesday is when the payment happens.
Is the Volcker Loophole where you lend money at 18% interest? Hey, I know ol’ Paul had to do something to curb runaway inflation, but we were left with a period in which we had double digit inflation and double digit interest rates. I remember because my parents bought their first house around that time. They buckled down and paid it off in 5 or 6 years but let me tell you, it was some lean livin’. Most of my clothes were hand me downs from my cousins who were a year or two older than me.
In other news, Sam made the cover of the Bahamian version of “Prison Bride Weekly, Holiday Edition”.
I’m sure he has a wedding gown in his wardrobe. If not, he can always “acquire” one.
The Other Sam (Samantha?) may have a darling little off shoulder number packed away in he/she/its Vera Bradley bag he can borry when they become cell mates.
Sorry, I got my Sam’s mixed up. Just realized it. Damn, these dirtbags are all running together.
Glad you keep me around, ain’t cha!
I could say the same…🤣
“He wore a pearl necklace”
(h/t ZZTop)
Do the Bahama Prison Commissaries accept payment in Bitcoin?
I doubt it. I also get the feeling that you can’t order a pizza or a burger online for an inmate, either. Although, seeing as this jackass is a vegan, it would be amusing to buy him a burger.
CFP brings the first photos of your boy in cuffs!
Note: that adderal looks like she’s wearing off.
Ain’t my boy. Man, I hope they send him to Terre Haute when he gets sentenced. Unfortunately, they’ll send him to a Club Fed type facility, if he makes it that long. ⏳
Agree. Those eyes… His anxiety level appears to be way above his tachometers redline…
All that photo is missing is a Jack Ruby type lurking in the wings.
Animal House: Bahamas
Talk about a juvenile delinquent, this guy has the wherewithall of a seventh grader.
Classic Ponzi scheme that makes old Bernie Madoff look like the guy that robbed trick-or-treaters of their Hershey bar rewards.
This is classic sucker baiting, all the illuminati loved this kid as he donated pretty much strictly in the progressive realm.
I wonder if old larsy-boi got caught in this klowne train to financial rewards beyond the dreams of Scrooge McDuck !!!
BWAHAHAHAHAHAHAHA! I know Fried’s pops is a college professor. PLEASE tell me he teaches at UC Berkeley!🤣
Both parents teach at Stanford, where S-BF was born.
Damn, so close!🤣
May have to take issue with one of your assertions, amigo. I just read that SBF also donated pretty significantly to certain Republican aligned PAC’s including the Senate Leadership Fund, which is commonly identified with Cocaine Mitch. Now, that may tie into the Uniparty narrative or it could be viewed as an attempt to suppress conservative turnout by ensuring that establishment candidates are the standard bearers in general elections. Or it could just be hedging bets to ensure access regardless of the party in power. That all remains to be seen and will hopefully come out as this story unfolds.
This entire situation is not unheard of.
Look at the economy, and monetary system of the United States. When you look into it deeply enough, you find that what is backing all that money is pure MAGIC.
As the late Grumpy Cat said:
How long until this is spun to support CBDC?
“The independent citizen cannot be trusted with managing digital currency, the federal government must take the reins to protect the citizen from themselves and other citizens…”
I was just reading a news article that said there are rats, maggots and other vermin in his cell.
I want to know if that was before or after they put him in it.
“It’s Better In The Bahamas”
Bahamas Tourism Board
He should be thankful that he didn’t get sent to Belize!
Call me cynical but I see the arrest as a way to prevent him from testifying in front of the senate. Why? Because so many dem politicians do not want to have out in the open how much money they got from this guy and possibly have to return it.
There is that, but there’s a story going around that he may have contributed a higher amount to Republicans than previously reported. That would make it a bipartisan desire to sweep this under the rug.
That’s also convenient cover for the Dems from their media propaganda arm…
Got it from a conservative source, but who knows. There’s a bunch of Republicans in the House and the Senate that in wouldn’t piss on if they were on fire. Looking at you, Mitt Romney.
I guess I’m glad I’m an old school asshole when it comes to my money….
Bitcoin and other forms of crypto sell themselves as alternatives to fiat currency but they are themselves the worst form of fiat currency…they are backed by absolutely no tangible assets whatsoever…they exist solely in the electronic ether of the world wide web.
You are buying nothing when you buy crypto beyond a promise that if everyone else agrees you might actually have some real money or be able to get some poor fool to give you real money for your crypto investment…
But history is replete with get rich schemes, all of which seem to work for a period of time at least but all of which also seem to fail regularly as well.
I don’t know what the future holds for crypto after some recent notable failures but it won’t hold any of my assets.
Invest in land, or rare earth materials, they aren’t making any more of these and thus they will remain valuable for a long, long while.
It’s similar to hear these commercials that you hear on the radio and cable television where some B-List Celebrity is encourage to move all of your savings into whatever they are promoting because the US Dollar is going to collapse. The strange things is that in order to acquire whatever currency they are promoting, you need to provide the US Dollars.
Another example would be certain politicians saying that Climate Change will negatively impact the world and that all of the land within 50 miles of a coastline will be underwater by next week, and yet they are buying all the property that they can on Martha’s Vineyard.
If you are looking for a solid financial investment, Hack Stone has it on good authority that a proud but humble woman owned company that sells software to the federal government formerly located in Bethesda Maryland is just about to and a HUGE contract with the Biden – Harris Administration for Y3K software. Contact your stockbrokers now.
Is that a Black Swan event?
A racially superior Swan with Nordic heritage.
Yeah, well we can’t make Thunderbird jokes since E & J Gallo stopped production of both that and Night Train. Truly the end of an era. 😢
And now we’re stuck with every nasty concoction of Mad Dog (no relation) known to man.
And Boone’s Farm Blue Hawaiian. (a Gallo product btws)
Edit: Holy shit, there’s a BF fan page!
Yeah, but I don’t consider Boone’s to be a bum wine. It’s basically the predecessor to the wine cooler. Not enough alcohol in the Boone’s and they put some work into making it palatable. Mad Dog, on the other hand, is some strong, foul shit. Not as bad as T-Bird, and about the same as the Evening Choo-Choo from a taste standpoint.
Also, Gallo doesn’t hide their ownership of Boone’s like they did with Thunderbird and Night Train. They created the front companies Thunderbird, Ltd. and Night Train, Ltd. to hide their ownership of those brands.
It’s like the Smirnoff’s and Bacardi flavored beers, ditto with the Apple- flavored stuff that isn’t Hard Cider, that’s rejected beer that failed to be any other name brand put through charcoal filters and flavors added afterwards, that’s where Zima came from as well! It’s how they get around having to dump rejected wine by processing it into “Bum Wine”!
For further edification, please see below:
http://www.bumwine.com/
Hilarious and educational.
I get a kick out of that site!
Yes but where civilians fail the military picks up the slack.
https://vinepair.com/articles/military-bourbon-story/
“I once bought a bottle out of curiosity and I couldn’t even mix it with Coke, it was so bad,” says one man.
“I remember buying this off the bottom shelf, with dust on it, at the Class 6 [store],” says another. “Rough times.”
“This is the kind of bourbon that three privates buy with a bag full of change they collectively scrounged out of their cars the last weekend of the pay period,” says yet another. “I know, I was one of those privates.”
Ah, yes Military Special. The preferred brand of Privates who are under pay forfeiture.
As others stated…
What? Too Soon?
🥸🤔
Album
The Poors
Has he been Epsteined yet?