SEC says Bankman-Fried defrauded investors of $1.8 Billion

[Jan]

Sam Bankman-Fried accused of R31.9-billion fraud

Sam Bankman-Fried, the disgraced co-founder of digital-asset exchange FTX, was accused by US regulators of orchestrating a multi-year fraud against investors — one that helped support his lavish lifestyle.

Bankman-Fried, who had been living in an expansive penthouse on the island, was arrested on Monday evening in the Bahamas after US prosecutors filed a criminal indictment. The arrest followed weeks of speculation about the possible misuse of client funds.

 

[now05ster]

Why didn't he go to a country that doesn't have an extradition treaty with the US? Hubris?

He participated in a lot of interviews following this debacle. I would have just kept to myself as far as possible.

 

[Gnome]

Everyone knows that in the conservative loving America you don't go to prison if you are rich. You can't do evil when you have money in USA. Only poor people go to prison. Steal a TV, straight to jail. Create a national opium epidemic, "naughty, don't do that again ok?"