FTX Founder Sam Bankman-Fried arrested after crypto billions go missing
He is no longer sitting in his fancy penthouse, but in a cell in the Bahamas: Sam Bankman-Fried (30), founder of the crypto company FTX, is said to be responsible for the theft of 37 billion euros. An interesting fact is that media in the EU have so far kept this crime thriller almost completely secret.
Published: December 14, 2022, 6:04 am
On Tuesday, the well-known US crypto scammer Sam Bankman-Fried (alias SBF) was picked up by the police in his neat penthouse in the Bahamas: Until the end, the founder of the cryptocurrency exchange FTX believed that he would not have to fear arrest. Now he is in a cell and is to be extradited to the US authorities.
According to CNN, the Royal Bahamas Police announced that the vegan and “representative of effective altruism” (his own description) was arrested without resistance for wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and money laundering.
So today was day one of @SBF_FTX “i am too dumb to be a criminal mastermind” world tour.
Join us tomorrow for day two when he channels Simple Jack next to Janet Yellen and Zelenskyy at the NYT summit of totally non-criminal folks.
— zerohedge (@zerohedge) November 30, 2022
The investigating US authorities are likely to accuse Sam Bankman-Fried, who was recently announced as another star guest at a panel discussion with Vladimir Zelensky, of suspected fraud and money laundering, the New York Times confirmed.
The criminal case involving Sam Bankman-Fried is unique simply because of its dimensions: After all, up to 37 billion euros in customer funds are said to have disappeared from FTX – and that only three years after the company FTX was founded. A class action lawsuit is also pending against the Stanford-educated, California-born Bankman-Fried since millions of investors worldwide are concerned about their assets that have been managed via FTX.
But the economic crime also has a political dimension: In a CNN interview, Sam Bankman-Fried openly admitted to cooperating with the government of Vladimir Zelensky. Huge sums of money was transferred anonymously to the warring country via its FTX crypto exchange – critics said that money laundering, embargo violations and secret military aid were also involved.
According to some financial insiders, Ukraine is said to have lost millions and the “Ukrainian partners” are quite upset.
Also already confirmed is that up to 30 million euros are said to have gone to the Democrats, the party of US President Joe Biden, from the private capital of FTX boss Bankman-Fried, which is estimated at 20 billion euros.
Barbara Fried, the mother of the cryptocurrency specialist, led “Mind the Gap”: This is a group that should set up donations for the Democrats, i.e. for the party that is particularly committed to billions in aid to Ukraine and with their representatives lobbying the US government to get involved in the war against Russia at all costs.
In terms of media policy, all outlets that have reported correctly about the suspicions against Bankman-Fried, have been massively attacked. It is striking that mainstream outlets have so far only reported very reluctantly on this case.
Presiding judge JoyAnn Ferguson-Pratt has meanwhile denied SBF’s bail application, stating that he posed the “risk of flight”. She has ordered that the crypto boss be held in custody by the Bahamas Department of Corrections until February 8. According to a defense lawyer, Bankman-Fried planned to oppose his extradition to the US.
According to federal sentencing guidelines, if you account for all of today’s developments, it looks like SBF is looking at *checks notes* 612,000 years in prison. pic.twitter.com/WrAWfhCelP
— Wendy Peffercorn (@SandLot84) December 12, 2022
All rights reserved. You have permission to quote freely from the articles provided that the source (www.freewestmedia.com) is given. Photos may not be used without our consent.
Consider donating to support our work
Help us to produce more articles like this. FreeWestMedia is depending on donations from our readers to keep going. With your help, we expose the mainstream fake news agenda.
Keep your language polite. Readers from many different countries visit and contribute to Free West Media and we must therefore obey the rules in, for example, Germany. Illegal content will be deleted.
If you have been approved to post comments without preview from FWM, you are responsible for violations of any law. This means that FWM may be forced to cooperate with authorities in a possible crime investigation.
If your comments are subject to preview by FWM, please be patient. We continually review comments but depending on the time of day it can take up to several hours before your comment is reviewed.
We reserve the right to delete comments that are offensive, contain slander or foul language, or are irrelevant to the discussion.
Ohio disaster: When hedge funds manage rail traffic
East PalestineAfter the derailment of a freight train loaded with highly toxic chemicals in the US state of Ohio, a devastating environmental catastrophe may now be imminent. The wagons burned for days, and a "controlled" explosion by the authorities released dangerous gases into the environment.
US President Biden orders ‘spy’ balloon to be shot down
WashingtonThe US President gave the order to shoot down China's "spy balloon". The balloon had caused US Secretary of State Blinken to cancel a trip to Beijing. In the meantime, a second balloon was sighted.
US is heading for a financial ‘catastrophe’ US Treasury Secretary warns
WashingtonOn January 19, 2023, the United States hit its debt ceiling of $31.4 trillion. The country faces a recession if it defaults on its debt, the US Treasury Secretary warned in an interview. Her warning underscored the danger of printing money.
Gun violence: More risk in Chicago and Philadelphia than Iraq, Afghanistan
Providence, Rhode IslandA striking statistic: young Americans are several times more likely to be injured by a gun in cities like Chicago and Philadelphia than they are while serving as a soldier in a foreign country.
Elon Musk, the first person in history to destroy $200 billion in a year
Never before in human history has a person lost as much money in one year as Elon Musk did in 2022. The Tesla and Twitter boss lost $200 billion last year. However, with his remaining $137 billion, he is still the second richest person in the world.
Extreme cold and winter storms sweep across US
More than a million households without electricity, thousands of canceled flights, temperatures in the double-digit minus range and already 41 fatalities: The US is being overwhelmed by an enormous cold wave.
Soros sponsors violent leftists and anti-police lobby as US crime surges
WashingtonThe mega-speculator and "philanthropist" George Soros remains true to himself – he has been sponsoring anti-police left-wing groups with billions of dollars.
How Twitter helped Biden win the US presidency
WashingtonThe short message service Twitter massively influenced the US presidential election campaign two years ago in favor of the then candidate Joe Biden. The then incumbent Donald Trump ultimately lost the election. Internal e-mails that the new owner, Elon Musk, has now published on the short message service show how censorship worked on Twitter. The 51-year-old called it the “Twitter files”.
Alberta PM suspends cooperation with WEF
EdmontonThe newly elected Premier Danielle Smith of the province of Alberta in Canada has recently made several powerful statements against the globalist foundation World Economic Forum and its leader Klaus Schwab. She has also decided to cancel a strange consulting agreement that WEF had with the state.
AIPAC cheers US midterm results
WashingtonThe American Israel Public Affairs Committee (AIPAC) expressed satisfaction with the US midterm election outcome. Republican voters, on the other hand, deplored their party's weak performance.