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Join the Securities Litigation and Enforcement Group on LinkedInSam Bankman-Fried’s ‘chronically overcrowded’ Bahamas jail is infested with rats and maggots | Daily Mail Online
Fallen crypto giant Sam Bankman-Fried will be remanded in custody in the Bahamas in a prison that was described in 2019 as ‘not being fit for humanity.’ On Tuesday, a judge in Nassau ordered that the FTX founder be held without bail while he fights extradition to the United States on a range of charges […]
In 60 Seconds Before CPI Hit, Heavy Trading Drove Mystery Rally
But there was nothing minor about the rally that took hold in the seconds before the better-than-expected inflation number hit the Labor Department’s website. Stock futures suddenly spiked more than 1%. Trading in Treasury futures surged, pushing benchmark yields lower by about 4 basis points. Those are major moves in such a short period of […]
SEC Charges Eight Social Media Influencers in $100 Million Stock Manipulation Scheme Promoted on Discord and Twitter
The Securities and Exchange Commission today announced charges against eight individuals in a $100 million securities fraud scheme in which they used the social media platforms Twitter and Discord to manipulate exchange-traded stocks. According to the SEC, since at least January 2020, seven of the defendants promoted themselves as successful traders and cultivated hundreds of […]
How to Do Fraud at a Futures Exchange – Bloomberg
But — as we have also discussed before — another important element of the alleged fraud is that FTX advertised good risk management and had bad risk management. Bankman-Fried has been going around on a weird media tour whose essential message is “I made mistakes and was careless, sorry,” presumably thinking that that is a defense to fraud charges, that “carelessness” and […]
The FTX Meltdown May Have Been Limited by the Real Cash Value Involved. – Bloomberg
But there’s another mystery that faces the Securities and Exchange Commission, which charged Bankman-Fried with fraud on Tuesday: How much real money was ever involved? Even die-hard crypto bros will have to admit they know what I mean by “real money”: it’s that flimsy, magical construct backed by government imprimatur that we all call fiat […]
FTX Founder Bankman-Fried’s Arrest Sets Up Possible Extradition Fight – Bloomberg
At his press conference on charges against Bahamas-based FTX founder Sam Bankman-Fried, Manhattan US Attorney Damian Williams said the case shows “you can commit fraud in shorts and t-shirts in the sun.” But Williams didn’t address how US authorities plan to get Bankman-Fried back from his tropical locale to face the eight-count indictment unsealed against […]
What Sam Bankman-Fried, arrested in the Bahamas, got for his baffling media blitz.
What did SBF really think would come from all that talking after FTX and its associated crypto hedge fund, Alameda Research, filed for Chapter 11 bankruptcy? In addition to all the tweets that pissed off the companies’ bankruptcy lawyers, there was one infamously softball New York Times interview, some damning Vox DMs, phone calls to […]
Sam Bankman-Fried’s Crypto Crash – WSJ
The SEC complaint is more voluble. “From the inception of FTX, Bankman-Fried diverted FTX customer funds to Alameda,” it says, to the point that “there was no meaningful distinction.” Then SBF “used Alameda as his personal piggy bank to buy luxury condominiums, support political campaigns, and make private investments.” He took enormous loans, “including two […]