FTX Files For Bankruptcy. What will be the effect of this?

The former CEO of FTX, Sam Bankman, has hired the same attorney that defended Ghislaine Maxwell and El Chapo.

Why hire an attorney that defends sex traffickers and drug lords if you’re not guilty of stealing billions from your customers?
 
Swordsmyth said:
The arrest came just in time to prevent him testifying to Congress.
Click to expand...

"overbooked" LOL

https://twitter.com/nypost/status/1602351776849690627
gVTpLCk.png
 
Congressional testimony is all for show

New CEO will be there spilling the beans to the Democratic lead Commitee

In a few weeks R’s take over the DC show
 
Sam Bankman-Fried Arrested In The Bahamas, Charged With Wire/Securities Fraud And Money Laundering
Tyler Durden's Photo
by Tyler Durden
Tuesday, Dec 13, 2022 - 06:11 AM

Update (8:35pm ET): According to the NYT, the charges against SBF which in an indictment which will be unsealed on Tuesday included wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and money laundering. Of course, SBF should also be charged for talking too damn much and adding 15 years to his sentence by being a megalomaniac sociopath, but we'd take attempted bribery of the entire Democratic Party instead.

A lawyer chimes in, pointing out that according to federal sentencing guidelines, SBF could be looking at approximately 612,000 years in prison.
 
vita3 said:
Sam Bankman-Fried Arrested In The Bahamas, Charged With Wire/Securities Fraud And Money Laundering
Tyler Durden's Photo
by Tyler Durden
Tuesday, Dec 13, 2022 - 06:11 AM

Update (8:35pm ET): According to the NYT, the charges against SBF which in an indictment which will be unsealed on Tuesday included wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and money laundering. Of course, SBF should also be charged for talking too damn much and adding 15 years to his sentence by being a megalomaniac sociopath, but we'd take attempted bribery of the entire Democratic Party instead.

A lawyer chimes in, pointing out that according to federal sentencing guidelines, SBF could be looking at approximately 612,000 years in prison.
Click to expand...

It's very worth noting that what SBF (and soon others) is being charged with is almost exactly what Ken Griffin and his Citadel stock market empire does on a daily basis and has been doing for many years. The Citadel market maker arm controls (rigs) stock prices for the benefit of Citadel's hedge fund arm (and other hedge funds), which Griffin then uses his hedge fund's profits from the rigging to bribe politicians. In Citadel's latest financial disclosures, Citadel market maker has facilitated the "sale" of $65 BILLION worth of stock, while collecting fees for those "sales", that Citadel has not actually located and delivered to buyer's accounts. In other words, fake shares fill stock broker accounts thanks to Citadel. $65 BILLION sold but never delivered!

SBF is a piker compared to Griffin. Yet Griffin walks free every day while robbing stock market participants blind. SBF looks like merely a Madoff-esque scapegoat to deflect from much, much bigger thefts and fraud perpetrated by even more connected insiders, and also you see the CFTC, SEC, etc all piling on now. On page 1 of this thread I posted how those same orgs were part and parcel to the FTX theft and fraud, so they now have to look like they weren't involved with it and are "doing their jobs", while also drowning out the apparent Ukraine>Dem money laundering operation that will likely never be spoken about officially.
 
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repost of page 1 twitter thread detailing all the sordid connections between the FTX/blockchain/regulations players:

https://twitter.com/jagoecapital/status/1590930378411618304

-------------------------------------

"The potential hack began around the same time @FTX_Official
made a tweet about their Chapter 11 filings"
Click to expand...

1500 Bahamas "clients" were allowed to withdraw $100M+ while average investors were locked out of accounts the day before bk was declared.

----------------------------------------
What no one ever asks is "why was Enron?" "Why was Madoff?" "Why was FTX?"

The answer is simple. They were avenues for money laundering investor's money to build out end result projects. For example, who realizes that the Enron fraud literally built out India's electrical and communications infrastructure? Enron disappears as a paper investment vehicle (a few people allegedly go to Club Fed) and investors are left with nothing.....but the infrastructure built with investor's money remains! India's electrical and coms grid is still there to this day.
 
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