Crypto-Scammer And Democrat Donor Sam Bankman-Fried Is Finally Arrested

Sam Bankman-Fried, the crypto-scammer who lost billions of investor dollars, has finally been arrested.

Financial experts have described this case as even worse than the Bernie Madoff scheme.

Some people hav speculated that SBF might get away with this because of his political connections. The fact that he has been arrested means he might not actually get away with no jail time.

CNBC reports:

FTX founder Sam Bankman-Fried arrested in the Bahamas after U.S. files criminal charges

FTX founder Sam Bankman-Fried was arrested by Bahamian authorities Monday evening after the United States Attorney for the Southern District of New York shared a sealed indictment with the Bahamian government, setting the stage for extradition and U.S. trial for the onetime crypto billionaire at the heart of the crypto exchange’s collapse.

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His arrest is the first concrete move by regulators to hold individuals accountable for the multibillion-dollar implosion of FTX last month.

Before his arrest was announced, Bankman-Fried had been expected to testify virtually before the House Financial Services Committee on Tuesday, but his attorneys told CNBC that he will not appear. Rep. Maxine Waters, D-Calif., who oversees that committee, said that she was “surprised” at his arrest, and disappointed that Congress would not be able to hear from him on Tuesday.

Damian Williams, the U.S. Attorney for the Southern District of New York, said on Twitter that the federal government anticipated moving to “unseal the indictment in the morning.” The charges include wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, and money laundering, according to the New York Times, citing a person familiar with the matter.

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This could get very bad for SBF.

The guy lost billions that belonged to other people.

Jail is justified.


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