FTX Founder Sam Bankman-Fried waived an extradition fight and U.S. Marshals flew him from the Bahamas to New York late Wednesday night. Appearing in a Manhattan court today, the judge set bail at $250 million and permits SBF to remain under house arrest at his parent’s California home until trial begins.
Additionally, it was revealed that Carolyn Ellison, 28, the former chief executive of Bankman-Fried’s trading firm, Alameda Research, and Gary Wang, 29, who co-founded FTX, pleaded guilty to charges including wire fraud, securities fraud and commodities fraud. Both are cooperating witnesses with the prosecution against the FTX founder.
New York – The cryptocurrency entrepreneur Sam Bankman-Fried can post $250 million bond and live in his parents’ home in California while he awaits trial on charges that he swindled investors and looted customer deposits on his FTX trading platform, a judge said Thursday.
Assistant U.S. Attorney Nicolas Roos said in U.S. District Court in Manhattan that Bankman-Fried, 30, “perpetrated a fraud of epic proportions.” Roos proposed strict bail terms, including a $250 million bond and house arrest at his parents’ home in Palo Alto, California.
An important reason for allowing bail was that Bankman-Fried agreed to waive extradition, Roos said.
Magistrate Judge Gabriel W. Gorenstein agreed to the bond and also approved the house arrest proposal. He also said Bankman-Fried would be required to get an electronic monitoring bracelet before leaving the Manhattan courthouse.
[…] Prosecutors and regulators contend that Bankman-Fried was at the center of several illegal schemes to use customer and investor money for personal gain. He faces the possibility of decades in prison if convicted on all counts.
In a series of interviews before his arrest, Bankman-Fried said he never intended to defraud anyone.
Bankman-Fried is charged with using money, illicitly taken from FTX customers, to enable trades at Alameda, spend lavishly on real estate, and make millions of dollars in campaign contributions to U.S. politicians. (read more)
The candy man spreading joy among the swamp. What were the huge political donations for.
Bingo!
We will never know.
“A man who doesn’t teach his son a trade teaches him to be a thief.”
(The hubris of the modern “professional” class doesn’t understand that too many parasites and not enough producers equals utter economic collapse for everyone. Back in the day the parasites understood that the only thing they had to sell was integrity.)
If Sam’s parents had only made him leave his bedroom when he was growing up and go outside and play…”But, mom, I want to play my Wi..Xbox..PlayStation, and you can’t make me.”
”Okay, Sammy, just let the maid know when you’re hungry and she’ll fix you a Hotpocket.”
Get out of jail free cards are sometimes expensive.
So much meme/image macro potential on that image!
“Listen…”
“I can explain…”
“Trust the plan”
“Trust me!”
“Here’s why <insert crypto/tech/nft here> is better the bitcoin”
Well well. An early Christmas present!
Must be nice to steal enough money to afford 250M in bail. And they give him house arrest? I guess I didn’t expect anything less. AND it looks like his girlfriend is going to walk free with her plea deal… even though the max sentence for what she did is 110 years. Rome is no longer burning, it’s a pile of embers.
Typically Federal Judges will NEVER allow a defendant to use STOLEN $$$ or the proceeds of the crime to post a bond in Federal Criminal Cases. Why is SBF being treated differently??? LOL
Because he posted no money, didn’t cost him anything. Used his parents home as collateral.
There may be one home in CA that is worth $250M. Not only that, but I thought the feds were going after the parents too.
I’m pretty sure the actual outlay is 10 percent, and the bail bondsman takes the risk for the rest
That’s still $25 million.
Who ponied it up?
What bail bondsman has $250 million in surety guarantees for one defendant? LOL.
The parent’s home was purchased with the proceeds of the crime so it can’t be used. Furthermore, the burden of proof is on the defendant to prove the money to buy the house was not from the victims!
Because his parents status and connections?
Parents put up their home, generally 10 percent is asked for bail.
Isn’t that ten percent cash and something worth the rest.
Gorenstein/Fried
Rome is dust in the wind.
Bankman didn’t Epstein himself….
There we go. I was waiting for it or I would go there.
Another Bondo Barr fail.
FTX and SBF will never see a trial .
got to wonder if he gets ‘Epsteined’ so court discovery doesn’t reveal democrats getting all those donations and it gets memory holed.
I doubt it’s limited to Democrats. I will not be surprised to see Graham, Romney, McConnell, Kinzinger, and Cheney’s names show up.
“Bankman-Fried said he never intended to defraud anyone”
Under the Comey-let-Hillary-out-of-jail-free rule, because Bankman-Fraud didn’t intend to break the law when he broke the law, he gets to walk.
It will be interesting to see how the Congress, the installed President, and the Justice Department blame all of this corruption on Donald Trump.
It’s a tough one but they’ll find a way!!!
Like when a liberal friend tried to convince me Putin’s invasion of Ukraine was, yes, Trump’s fault LOL, that was really, really desperate.
I think this guy defrauded the WRONG people. Just like the Transgender dude in charge of nuclear waste stole the WRONG persons luggage. It’s not good for you when you steal from powerful people. They don’t take it well.
Perhaps he overdid it…Lost control succumbing under massive amounts of hubris.
‘lost money you donated through crypto to the DNC’
no one is mad – except the people that werent donating to the DNC through him.
That’s the deal, IMO. SBF is the money launderer.
Once, Epstein worked in the laundromat. The Clinton Foundation worked there too. There was a washing machine that ran through Ukraine and Malta. Lately, they have been using crypto.
Epstein was allowed to do whatever he wanted to do because he was the change machine at the laundromat. Then Epstein became too risky and (didn’t) kill himself. There was a key job opening. SBF landed the job. Maybe he was recruited, maybe not. But SBF was the new manager of the laundromat.
Yet another criminal with no control over his sexual appetite.
That’s the way I see it.
You give million$ to a 25 yo kid for pretend digital assets you’re guilty of self fraud.
Lizzie Holmes. Theranos. Convicted of wire fraud for defrauding investors of MILLION$$$$$$.
Mail and wire fraud could be used on any of these election perps who used the mails (USPS or any other private contractor) or electronic communications to defraud us of free and fair elections.
One count for every instance, includes fines + jail time.
Bahamian law enforcement appears substantially sharper looking than our US Marshals. Sad.
https://nypost.com/2022/12/22/heres-where-sam-bankman-fried-will-be-under-house-arrest/
Somehow, do not think Sam will miss his single cell in the Bahama prison; his parents home where he will reside under house arrest.
So where did the money come from?
Umm……ok,I’ll bite. An FBI or CIA offshore account?
A BOND does not require a huge deposit; just a premium e.g. equity in parents house.
True, and its usually a certain percentage. Let’s say its 5% of the bond–that’s $12,500,000. That’s a pretty stiff premium, not to mention pricey house for college professors.
For sure that is part of the secret story of FTX.
“Additionally, it was revealed that Carolyn Ellison, 28, the former chief executive of Bankman-Fried’s trading firm, Alameda Research, and Gary Wang, 29, who co-founded FTX, pleaded guilty to charges including wire fraud, securities fraud and commodities fraud.”
Anyone else get the sense this is rushed for whatever reason? It was not that long ago when his scheme collapsed, even less until he was arrested.
It stands in such contrast to how fast the DOJ usually moves.
It’s my understanding that FTX was being investigated a year ago.
we just didn’t find out about it until now.
Gotta do it under a Dem Regime and way before 2024 election carnival begins.
He faces the possibility of decades in prison if convicted on all counts.
If he survives to stand trial.
That depends on whether or not he will break their oath of omerta.
That may not be a risk they’re willing to take.
Why is he still alive?
Did they want something specific from him?
Dunno.
need him until the narrative is fixed
He has THEM by the short & curries. My guess.
Dead men tell no tales.
If he was smart enough to craft a dead-man’s switch, maybe there would be some tales.
Maxwell is still vertical and breathing, yes?
Yeah, Sam does look like a pirate in that photo 😂
Madoff got off on bail also by a Federal Judge with the SDNY but he only stole $10 Billion. I’m scratching my head trying to figure out why January 6th defendants charged with trespassing are denied bail by Federal Judges and sitting in Federal Prison for the past two years?
Because they are trying to teach us a lesson. We need to remember our place and not get uppity. I think we are slow learners though.
Because ” You shall not scare the sacred cows of Congress”, that’s why.
We live in an evil country mow.
The world knows too…
I was thinking the same.
Steal billions, donate to the right people and the DOJ takes their time arresting and charging you before letting you out on house arrest.
Step over an arbitrary line after barriers were moved, and you are pursued to the ends of the earth, arrested immediately, your life, family and reputation ruined and you end up in solitary without so much as a hearing.
With the added bonus of being harassed daily by guards.
They’re still arresting people, today, nearly three years after J6. Follow American Gulag, among other sources, for often little known details.
“.. live in his parents’ home.”
‘We thought he was upstairs in his bedroom!
No Officers, We have no idea how those tied bedsheets got there!’
It’s not like he’s a Jan 6 insurrectionist. Now those people are dangerous. /sarc
It is a bond NOT bail. Total put up w is equity in parents $4 million home.
When do the J6 political prisoners get house arrest rather than the DC Devil’s Island?
When this guy goes to jail. Never.
Looking into all of that laundered Ukrainian money will be interesting.
Perhaps too much money got lost in the washing machine?
By the way, who will be laundering this new appropriation in the latest grand theft bill?
”I’m sorry, the FBLIE is still sitting on that information and will get back to you in 2 years.”
Found in da bin…. 🙁
Ty Ad rem. Merry Christmass.
Merry Christmas! 😀
Good find! LOL!
Merry Christmas!
This is what the world should have done to this illegitimate deviant criminal grifter right from the start.
He represents Joe don’t you know.
SBF did not have to post any money for the bond. He only signed a paper using his parents home as collateral. Once again he is using other peoples money.
Even at 5% of the total bail, that would be $12,500,000. That’s a pretty pricey house for professors–even in California.
He is so lucky he is a democrat.
But he is still warm water.
He needs hot water. Phew ! Needs a bath. I can smell him from here….
The richest people once made stuff.
Rockefeller (probably the richest man ever) made kerosene.
Ford made cars. (An anti-semite, and arguably the greatest American ever).
And Howard Hughes, who made drill bits and planes and movies.
Now the richest make nothing. They fiddle paper.
Zuckerberg, of the phantom billions, who expended $hundreds of millions cheating Trump of his victory in 2020.
Evil, pure evil.
Would not be surprised if Biden pardons the little twerp.
Suppose he will reside in mommy and daddy’s basement?
This guy was born and raised in the swamp. I’m sure he has webbed feet.
The guy will plea bargain and spend a few years at Club Fed playing golf.
Meanwhile, J6 Protest political prisoners are rotting away in a DC dungeon.
Cash or Crypto?
Convert to Gold/Silver, Silver being more palatable for smaller transactions my friend
I meant what did he pay the bail in…?
Oh my bad. That is funny iggyb.
Ok it could still be gold & silver since they know our money is going to be near worthless like what they did from Rhodesia to Zimbabwe under “democracy”.
Merry Christmass!
Nothing is going to stop this until one single American Patriot and then two and then 10 and then 50 stands up and shouts
INCOMING!! God Bless Ashli Babbitt who died in VAIN while being shot UNARMED by a cop who felt “threatened”. Never mind that he was black cuz you know how threatened black cops feel when a white woman is unarmed.
We know who they are. We know where they live.
Aim small. Miss small.
We are in a battle that surpasses anything our Forefathers could have imagine.
If we don’t start fighting back now…..we have little chance of saving anything for our kids or our grandkids.
VOTING OUR WAY OUT OF THIS IS NULL AND VOID….if you’ve been paying attention.
DOJ will whitewash the case. They will get him on some very specific charges that have nothing to do with who he gave money to. They will sanitize his prosecution. He will get about 50 years in prison, and a visit from serious fellows who will tell him that if he ever breathes the name of any of the politicians he bought that he will die in the showers.
With all the money this short circuited MIT grad had you mean he didn’t have a U.S. home or address and now can travel from NY to California for his house arrest ?
And he is not a flight risk at the same level as Epstein or El Chapo ?
Who needs a home when you have a private plane?
Tucker Carlson tonight said that the whole bail thing is a fraud on the American public. No money was paid at all for his release, just a hold on his parents’ $4 million home.
There was no money actually posted in this bond. He was let out on a “Recognizance bond.”
Two very wealthy people agreed to pay the 250mil IF he doesn’t show up.
They have refused to name who those two people are of course.
This was open corruption by the judge and complete dishonesty on the part of reporters reporting the 250 million number.
Same thing BLM did, but they had donations instead of investors.
His parents put up the house he bought them to help cover the bail. If he bought the house with money he swindled from other people, it is unlikely that they would keep that house after the trial is over. Does that mean he might as well skip out?
Isn’t most of SBF’s recently acquired money subject to clawback in the bankruptcy? I think there is a time limit for such things but I don’t hold the answer.
Anyone, anyone?
What happens if the majority of the bond that has been posted is clawed back? Does SBF go to the slammer, or does he get another nice sleeping arrangement from the court?
This is starting to feel like how Epstein served time (kinda) at the stockade.
No comment that they didn’t even have to pay any thing to get him out? He was released on recog and a couple co-signers.
Good catch.
!!!!!!!!!
So FTX was cycling money through Ukraine? Ellison and Wang copped pleas on January 19th last year, a month before Russia entered the Donbas?
Exactly three weeks after those pleas, the White House announced that Kamala Harris would speak at the Munich Security Conference which was coming up only 10 days later. A few days after she spoke, the Russians entered the Donbas.
That is mighty interesting when viewed in the light of the pending FTX implosion and the relative silence until after the midterms.
The Obiden Syndicate stole all the money. This kid is just the Designated Fall Guy.
Pictured here: Giant human horseflies circle a fresh, steaming pile of horseshit to get their fair share.
Which is all of it.
Meanwhile, political prisoners still sit in The DC gulag for just walking through the open doors of the US capitol with NO due process.
For many, its coming up on 2 years without a trial.
Someone will probably give him a “hot” Adderall that he is so fond of to “take the edge off” and that will be the end of this saga.
According to Tucker’s guest tonight, the whole bail caper was another scam.
Whatever the parents put up didn’t amount to a hill of beans.
If Sammy boy flies the coop nobody loses much of anything.
Tucker Carlson said SBF didn’t actually put up any money, they just let him.out . . .
It’s telling that all the politicians who are usually found on the television screaming ‘what about the little guy that’s lost everything because of this conman’ are awfully quiet over this guy and his theft. Hmmm, wonder why.
Also interesting that the mom and pop investors that have now lost their life savings because the financial advisors they entrusted their retirement funds to invested those funds into this ponzi digital cash company aren’t being given air time on the usual television shows.
How quickly the politicians go quiet when it comes to them returning any funds they got from dubious sources.
The more the phoniness of the politicians become the more people will wake up and realize their leaders are wearing no clothes. Can’t happen quick enough.
Just noticed the two officers, assuming they are law enforcement, walking that man, are both wearing gloves. Is that normal?
Yes, normal.
If the guy went goofy on the officers, the gloves might protect them from injury and disease.
Or maybe they both have carpal tunnel…I jest 😂
Funny, that is the first thing that I noticed! Second thing I noticed was the apparent blood stains on the right and left sleeves of officer on the left. So odd!
Saw that too and at first thought blood stains and then thought maybe just a label on the sleeve which would be weird too. Whatever’s going on, neither of those officers look very happy.
Am the only one who thinks this guy has super creepy all black eyes? They remind me of the body mutilators who tattoo their eyeballs.
That is a base layer shirt with thumb holes to assist pulling the sleeves through the sleeves of a mid layer or top layer shirt.
What seems to be blood is actually the skin on the officers arm showing through the thumb holes.
Yes, I see the corresponding thumb hole on the other sleeve next to the guy’s watch. Never heard the term “base layer shirt” before.
He just came off J6 interrogation duty.
If you had to handle someone who claimed to be polyamorous, wouldn’t you want a nice pair of gloves to wear?
No. It’s not. But the reason may be related to something other than the dope they are escorting. However, if it was a health/disease/ outbreak related issue they would be wearing masks.
I am surprised they aren’t.
Mom and dad probably bailed him out! That where he got the brains…and maybe even the idea for this scheme. I’m sure they are both leftist democrats and were more than willing to help keep them in power and orangebman out! Sorry…no mercy for the rats!
Of which he doesn’t have to pay any of it. Look it up!