#ftx fraud

[nacricissa]

If the world is planned whoever it was is clearly so bored with it all they named a man who did a Scam then went Bankrupt when his Fraud was discovered Sam Bankman-Fried. It's so perfect. Mr. Scam Bankrupt-Fraud was built to be dunked on it's kind of unfortunate for him. The part where he's going to jail is his fault, but the fact he has such a mockable name isn't.

[ophilosoraptoro]

I Accidentally Got SBF To Admit to Fraud

[muridigital]

Sam Bankman-Fried sentenced to 25 years in prison for fraud at FTX

FTX Founder, Sam Bankman-Fried, was on Thursday sentenced to 25 years in prison by Southern District of New York (SDNY) Judge Lewis Kaplan. The judgment came about five months after he was found guilty on all seven counts related to fraud and money laundering during his trial. Reports indicated that earlier this month, U.S. prosecutors from the Department of Justice called for a “necessary” 40 to…

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[pavel-nosok]

FTX used Python code to fake its insurance fund figure: Gary Wang

FTX’s so-called “Backstop Fund” figure was a big lie, according to the former chief technology officer of the crypto exchange

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[babaloo-2424]

SBF's father was unhappy with his $200k salary at FTX - he wanted $1 million per year - so he emailed SBF asking for more money, and then pulled the "I'm telling your mother" Dad move and looped SBF's mom into the email thread

[babaloo-2424]

[ophilosoraptoro]

Witnessing Corruption - FTX and Sam Bankman-Fried

About 5 months old, so some of the info might be outdated, but still feels relevant.

SBF didn't kill himself.

[roseberry12]

Silvergate's Savior? The Inside Scoop on Citadel's Potential Lifesaving Role

Leading crypto-friendly bank, Silvergate, is in hot water just four months after the FTX collapse. The bank is on the verge of failure, causing fear and uncertainty in the cryptocurrency industry. Silvergate has experienced almost a $1 billion loss due to withdrawals in the last three months of 2022, following the run on deposits caused by the FTX collapse. The release of the 2022 annual report has been postponed, and Silvergate has asked the SEC for more time to assess its financial reporting controls. Providers of digital assets are severing their ties with the bank, and several large players in the sector have visited Silvergate, adding to the worry. However, rumors are circulating that Citadel Securities, which already has a stake in the bank, may step in to help Silvergate out of its liquidity crisis. Stay tuned for updates.