Re:Sam Bankman-Fried found guilty on all charges
by StressedDev on Thursday November 02, 2023 @11:15PM
(#38124017)
RE: Where the money went - The customer's money was used for the following purposes:
1. To pay for Alameda's (Sam Bankman Fried's hedge fund) and FTX's loses
2. Invest in venture capital and make acquisitions
3. Political donations
4. Charitable donations
5. Luxury real-estate, boats, etc.
6. "loans" (i.e. transfer of stolen funds) to FTX's top executives
RE: Intent - Intent was easy to prove. All of Sam Bankman-Fried's fellow executives testified against him. In addition, Sam Bankman-Fried gave several interviews after FTX's collapse where he basically admitted he lied, fucked up, etc. Also, there was a lot of documents proving Sam Bankman-Fried lied. A good example is him saying FTX was fine on Twitter (X) and then it collapsed a few days later.
1. To pay for Alameda's (Sam Bankman Fried's hedge fund) and FTX's loses
2. Invest in venture capital and make acquisitions
3. Political donations
4. Charitable donations
5. Luxury real-estate, boats, etc.
6. "loans" (i.e. transfer of stolen funds) to FTX's top executives
RE: Intent - Intent was easy to prove. All of Sam Bankman-Fried's fellow executives testified against him. In addition, Sam Bankman-Fried gave several interviews after FTX's collapse where he basically admitted he lied, fucked up, etc. Also, there was a lot of documents proving Sam Bankman-Fried lied. A good example is him saying FTX was fine on Twitter (X) and then it collapsed a few days later.
Here are some good FTX resources:
https://newsletter.mollywhite.net/s/the-ftx-files - Molley White did a good job covering the trial.
https://www.justice.gov/usao-sdny/pr/united-states-attorney-... - This site contains the government's indictment against Sam Bankman-Fried.
https://restructuring.ra.kroll.com/FTX/Home-Index - A lot of the FTX bankruptcy documents are on this website.