Sam Bankman-Fried Indicted on New Charges

Everyone's favorite DC darling & crypto scammer is back in the news:

FTX founder Sam Bankman-Fried faces 4 new charges

The new charges include conspiracy to commit bank fraud and conspiracy to operate an unlicensed money transfer business. Bankman-Fried, 30, now faces a total of 12 charges since the collapse of FTX.

Anyone who's been paying attention can see he's incriminated himself numerous times on his Twitter, in interviews, etc.

He pleaded not guilty to eight counts of fraud and conspiracy in early January and remains free on a $250 million bond, confined to his parents' house in Palo Alto, California.

We also got news of who bailed out Mr. Fraudster himself earlier this month:

We Finally Know Who Bailed Out Sam Bankman-Fried

Friends of mommy & daddy I would bet.

Any hot takes from ATS members who what to expect from SBF's charges? Thrown under the bus like Madoff while enablers get off scot-free? That'd be my best guess.

It's obvious this little punk isn't smart enough to have created the FTX empire. He's as much a tool of his parents making as Greta Thunberg.

His parents were university professors, with enough intelligence to know they were creating a scam, so I have to wonder who was protecting them and why that protection was removed?

It looks like a door has been opened for the government to come up with a 'solution'; to take control of digital currency.

Did Sam's parents sacrifice him for 'the greater good'? We'll have to watch it all play out and see what kind of consequences/benefits happen in their future.

originally posted by: FamCore
Any hot takes from ATS members who what to expect from SBF's charges? Thrown under the bus like Madoff while enablers get off scot-free? That'd be my best guess.

Mine too... but who knows. I was actually surprised they even charged him in the first place, much less with very serious charges, and now they're adding to them.

Maybe he'll plea bargain and roll over on the Dems... although, he'd likely just end up killing himself with a few gunshots to the back of the head after hanging himself with piano wire.

a reply to: FamCore

The DOJ is running interference for him.
He'll get a slap on the wrist and probation at most.

He's an idiot and runs his mouth too much. By indicting him before he could get himself into more trouble by testifying in front of congress they intentionally sabotaged an opportunity to help their case.

He's called a "sacrificial lamb".

Ever wonder why the companies that are in the SEC's crosshairs (Kraken, Ripple, Binance, Library etc.) are the most open and cooperative while all of the ones that have crashed (FTX, BlockFi, 3AC, Voyager, Celsius, etc.) were able to do business unobstructed? Why can't the SEC seem to do their job?

The answer is that they are doing their job the way they are told to do it.

a reply to: underpass61

Correct - if SBF wasn't one of the largest donors to the democratic party, I imagine things would likely be playing out differently...

Was SEC Chair Gary Gensler Helping Sam Bankman-Fried Find Legal Loopholes for FTX?

His parents who are "ethics lawyers" (lol) have benefited greatly from their greasy unkempt son's frauds

SBF’s parents, FTX executives bought Bahamas property worth US$121 million