Re:FTX's Sam Bankman-Fried Should Serve 40 to 50 Years in Pr...
by rvz on Friday March 15, 2024 @06:32PM
(#39721371)
> What fraud do you think they were covering up?
The fact that banks such as HSBC failed to flag and stop transactions to a ponzi scheme that they knew about with their 'AML' systems and processed it anyway. [0] This would never have been known before the leak and even worse that the regulators did nothing until the leak.
> SARs are filed when money laundering is suspected. To the extent something was being covered up, it was money laundering. Not fraud.
So not only just fraud that was covered up but money laundering and processing payments for mobsters and drug cartels which the banks allowed and failed to stop it.
This is getting even worse than imagined.
What fraud do you think they were covering up?
SARs are filed when money laundering is suspected. To the extent something was being covered up, it was money laundering. Not fraud.