Dem's 2nd largest donor now in the slam in the Bahama's awaiting extradition

T

TreeFrogTrader

Classy bunch those dems.

The Justice Department apparently issued the warrant ahead of his scheduled meeting before Congress next week so that the Republicans could not grill him on dem party connections.
 
SBF gave equally to both parties. He is also one of the Republican’s largest donors via dark money.

The many people defrauded by FTC deserve to see SBF extradited to serve justice. This is one of the largest financial frauds in history.
 
gwb-trading said:
The many people defrauded by FTC deserve to see SBF extradited to serve justice. .
More...

This is true but there is also a message to investors/the public which is that they need to be careful about being complicit in their own defrauding.

With Madoff, Enron, etc people were entitled to rely upon existing, laws, regulatory apparatus etc to protect them. But in the case of FTX, if you invest in a company/or its products that purposely registers and operates from the Bahamas, the Cayman Islands, whatever, you know they are doing that for less regulation, not more, and this is what you get- more easily anyway.

Yeh, investing in a crypto operation being run out of the Bahama's. What could go wrong there?

Many investors arrived there via investments in hedge funds, etc. that held vast amounts of FTX- such as Scaramucci's fund that was one third in FTX. No doubt, investors properly have the basis for a legal action against the fund for failing to do due diligence. I would think. Probably they will argue that they did full disclosures on risk to the client, blah, blah, blah, but that has its limits. It's a gravy train for the lawyers.
 
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gwb-trading said:
SBF gave equally to both parties. He is also one of the Republican’s largest donors via dark money.

The many people defrauded by FTC deserve to see SBF extradited to serve justice. This is one of the largest financial frauds in history.
More...
He did not give equally.
Why do you keep posting BS, Greg?

Sam Bankman-Fried, FTX CEO
DemCands DemParty LiberalGroups RepubCands RepubParty ConservativeGroups
$1,265,900 $760,466 $41,456,060 $76,700 $8,500 $155,000
 
Arnie said:
He did not give equally.
Why do you keep posting BS, Greg?

Sam Bankman-Fried, FTX CEO
DemCands DemParty LiberalGroups RepubCands RepubParty ConservativeGroups
$1,265,900 $760,466 $41,456,060 $76,700 $8,500 $155,000
More...

Let's read the facts -- straight from SBF's mouth. The line above you provided above is for direct, non-dark donations only.

Sam Bankman-Fried says he's the Republicans' third-biggest donor, but used 'dark money' to avoid media criticism
https://www.businessinsider.com/sam...s-the-republicans-third-biggest-donor-2022-11
  • Sam Bankman-Fried is the second-largest donor to Democrats after George Soros.
  • But the FTX founder said he gave just as much to Republicans using "dark money."
  • He said he did so to avoid media criticism from "liberal" reporters who would "freak the f*** out."
Sam Bankman-Fried, the founder of FTX, says he's the Republicans' third-biggest donor – but used "dark money" to avoid criticism.

He revealed the information in a YouTube interview with journalist Tiffany Fong, amid reports that he donated $40 million to the Democrats ahead of the 2022 midterm elections.

That made Bankman-Fried the party's number-two donor, behind only George Soros' $128 million, per OpenSecrets. Bankman-Fried did not specify which Republican causes he pumped "dark money" into.

But the former CEO of the failed crypto exchange has now explained how he donated "about the same amount to both parties this year."

"I've been their third-biggest Republican donor this year as well," he said.

Bankman-Fried explained that this was "not generally known," because "all my Republican donations were dark."

He also referred to the 2010 Citizens United case in the Supreme Court that let corporations and outside groups make unlimited political donations.

This created financing loopholes because these groups did not have to disclose their donors, giving rise to "dark money" that are called "disturbingly common" by the non-partisan Brennan Center for Justice.

Bankman-Fried said he did so to avoid media criticism, rather than for regulatory reasons.

"Reporters freak the f*** out if you donate to a Republican," he said. "They're all secretly liberal and I didn't want to have that fight, so I made all the Republican ones dark."

"Despite Citizens United being the literally the highest-profile Supreme Court case of the decade and the thing everyone talks about with campaign finance, for some reason in practice no-one can possibly fathom the idea that someone actually gave dark."

(More at above url)
 
Some additional information which provides some context about the FTX fraud.

Sam Bankman-Fried’s empire of deception laid bare in SEC suit alleging massive FTX fraud
https://www.marketwatch.com/story/s...c-suit-alleging-massive-ftx-fraud-11670937313

Here's why FTX founder got hit with charges much more quickly than Trump: legal expert
https://www.rawstory.com/sam-bankman-fried-arrested-2658955715/

5 things FTX did with its money — including customer assets — according to its new CEO
https://finance.yahoo.com/news/5-th...ng-to-its-new-ceo-214733872.html?guccounter=1
 
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