… And for a normal person who does not love financial complexity and have a soft spot for fraud, this case was very very very very very very very simple. Obviously a lot of people — not just Bankman-Fried but also the prosecutors, journalists, etc. — have some incentive to make it seem complicated. But all that you actually need to tell a jury is:
–Customers deposited billions of dollars at FTX.
–Bankman-Fried spent a whole lot of it on baubles like Bahamas beachfront real estate, political donations, Tom Brady, etc.
–The customers asked for their money back and it wasn’t there.
There is just no coming back from that, you know? Bankman-Fried did not: Last Thursday, after four weeks of trial and less than five hours of deliberation, the jury came back with a verdict of “obviously guilty, come on….”
‘Enforcement 40’ for 2020
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