If you own a small business and it fails you don’t still make a lot of money. Why should it be different for these people?
Liberal hypocrisy, as per usual.
when will the arrests begin?
VIDEO: 4m58s: 21 Nov: Fox Business: Fallen FTX boss spent lavishly in Bahamas while allegedly misusing customer funds
Sam Bankman-Fried’s Bahamas spending spree has been called into question since the collapse of FTX
by Michael Ruiz; Fox News’ Paul Best contributed to this report.
He bought a $40 million penthouse with views of the water on three sides and a $60 million plot where he “broke ground” on FTX’s future headquarters but never began construction. When visited Sunday, the site was a fenced off tract of weeds with a view of the Atlantic...
Additionally, there is his multimillion-dollar, 52-foot HCB yacht...
He donated millions to the local government and Bahamian charities – prompting local media to report, “FTX tentacles stretched far across Bahamas.”
“They were walking around the Bahamas making it rain,” a Ukrainian ex-pat working in finance on the island told Fox News Digital Sunday...
A filing on Nov. 19 revealed the exchange owes its 50 biggest creditors nearly $3.1 billion, all of which are customers, although the document did not name them. The companies’ total liabilities are estimated at more than $10 billion. An estimated million customers and other investors are facing combined losses in the billions of dollars...
Crews rake the beaches every time the tide drops to clear away seaweed and other debris. A pile of sand near the jetty is used to freshen up the narrow beachfront...
https://www.foxbusiness.com/lifestyle/fallen-ftx-boss-spent-lavishly-bahamas-while-allegedly-misusing-customer-funds
> clean up the collapsed cryptocurrency
Well they did say to clean up.
From the article -
“However, John Ray, who was appointed FTX CEO after Bankman-Fried revealed his financial troubles, filed for bankruptcy and resigned, said in court filings that FTX and its dozens of sister companies lacked functional accounting and human resources departments, and Bankman-Fried had received a $1 billion personal loan from one of his own firms.”
“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,” he wrote, after noting twice he had worked on Enron’s collapse, in a court filing this week. “From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented.”
a $1-billion personal loan??
must be nice!
MAn , Daniel Assange got in the wrong business and plaid with the wrong people.
Dude eats vegetable dildos on Tv, gets to cannibalize America.
Hey these guys have college loans to pay off.
???
That’s $2,600,000 per year based upon 2000 hrs worked.
Wait'll you see his retirement plan offered by FTX.
In Episode 282 of Hidden Forces, Demetri Kofinas speaks with famed short seller Marc Cohodes about Sam Bankman-Fried, the recent bankruptcy of FTX, and the bigger story behind the alleged fraud that he and his network of enablers have perpetrated.
Who is SAM BANKMAN-FRIED and What Really Happened at FTX? | MARC COHODES
"In response to Genesis suspending withdrawals, Gemini halted redemptions from its Earn product. That left in limbo a program that, according to a person familiar with the matter, has $700 million of customer money tied up in it."
Nearly a billion wiped from, not speculators, but people who used the Earn app as a referral product.
"However, John Ray, who was appointed FTX CEO after Bankman-Fried revealed his financial troubles, filed for bankruptcy and resigned, said in court filings that FTX and its dozens of sister companies lackedfunctionalfictional accounting and human resources departments, and Bankman-Fried had received a $1 billion personal loan from one of his own firms."Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here," he wrote, after noting twice he had worked on Enron's collapse, in a court filing this week. "From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented."
So far, Ray is money well spent.