NY - Samuel Bankman-Fried (FTX), Alleged Fraud, Money Laundering, 2019-2022 *Arrest*

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Another one bites the dust
And another one gone and another one gone
Another one bites the dust!

Crypto-friendly lender Silvergate collapses
Crypto-focused lender Silvergate said it is winding down operations and will liquidate the bank after being financially pummeled by turmoil in digital assets.

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ALAN LANE | CHIEF EXECUTIVE OFFICER​

Mr. Lane has been with Silvergate since December 2008. He is the Chief Executive Officer of Silvergate Capital Corporation and Silvergate Bank.

About Silvergate Bank | San Diego

www.silvergate.com www.silvergate.com
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Silvergate Bank and its CEO Alan Lane have been accused of “aiding and abetting” a “multibillion-dollar fraudulent scheme orchestrated by Sam Bankman-Fried (SBF)” and two of his entities, FTX and Alameda Research, in a newly proposed class-action lawsuit.

cointelegraph.com

SBF and FTX fraud ‘aided and abetted’ by Silvergate Bank, alleges lawsuit

Silvergate Capital Corp, Silvergate Bank and CEO Alan Lane are named as defendants in a proposed class-action lawsuit from an FTX user.
cointelegraph.com cointelegraph.com
 
m.economictimes.com

Sam Bankman-Fried's lawyers say October trial may need to be delayed

In January, Bankman-Fried pleaded not guilty to the original eight counts that he cheated investors and caused billions of dollars in losses, in what prosecutors have called an "epic" fraud.
m.economictimes.com m.economictimes.com

SBF’s lawyers are signaling that they may request that the trial, currently slated to start October 2 may need to be delayed as the defense attorneys wait for info from the prosecutors, including data downloads from CE’s and GW’s cellphones.

The trial schedule and Bankman-Fried's bail conditions are expected to be discussed at a court hearing on Friday.
Click to expand...
 
FTX continues to claw back as much as possible.

www.bloomberg.com

FTX to Collect $404 Million in Proposed Deal With Modulo

FTX Group will recover about $404 million that its disgraced founder Sam Bankman-Fried allegedly transferred to the investment fund Modulo Capital, according to a proposed bankruptcy settlement made public Wednesday.
www.bloomberg.com www.bloomberg.com

cointelegraph.com

FTX debtors agree to $95M sale of stake in Mysten Labs

In bankruptcy court, FTX debtors proposed a deal in which Mysten Labs and the company would agree to a mutual release of claims in exchange for selling its stake of preferred stock.
cointelegraph.com cointelegraph.com
 
Great article if you have a NY Times subscription.

In a nutshell, SBF’s brother is being investigated for campaign finance offenses as well as to determine whether he was aware that the money that his pandemic-prevention organization received from SBF and SBF’s organizations was ill-gotten.

www.nytimes.com

The Younger Brother Caught in the Middle of the FTX Investigation

The collapse of Sam Bankman-Fried’s business empire has led federal prosecutors to scrutinize his brother, Gabe, who ran a pandemic-prevention group.
www.nytimes.com www.nytimes.com
 
Countem said:
Great article if you have a NY Times subscription.

In a nutshell, SBF’s brother is being investigated for campaign finance offenses as well as to determine whether he was aware that the money that his pandemic-prevention organization received from SBF and SBF’s organizations was ill-gotten.

www.nytimes.com

The Younger Brother Caught in the Middle of the FTX Investigation

The collapse of Sam Bankman-Fried’s business empire has led federal prosecutors to scrutinize his brother, Gabe, who ran a pandemic-prevention group.
www.nytimes.com www.nytimes.com
Click to expand...
LOL @ me. You know how sometimes your eyes will merge 2 words together to make it an entirely different word? At least mine do from time to time. Anyway.... I was reading the article and it and merged the words raised, and lobbying, and I thought it said "The group, Guarding Against Pandemics, robbed more than $22m million in its first full year". I was like WHOAAAA... LOLOL

I guess that was what my mind thought it would see since it's FTX's baby bro, and we know his mom and dad already had their fingers in the pie. Well, maybe more like their fists, you can grab more that way. OK, its obviously coffee time for me. I know better than to come to this site first. lol

1679675476495.png
 
As they say in pool halls... "Rack 'em up!" SBF just racked up another charge.

Federal prosecutors tacked on a 13th criminal charge against Sam Bankman-Fried, accusing the FTX co-founder of bribing “one or more” Chinese government officials with $40 million worth of cryptocurrency.

In the indictment, prosecutors allege that Bankman-Fried sought to pay off Chinese officials in an effort to unfreeze accounts belonging to his hedge fund, Alameda Research. The accounts, which the Chinese government had frozen, held more than $1 billion worth of digital assets, prosecutors say.

The accounts were released after the payment was transferred in from Alameda’s main trading account to a private cryptocurrency wallet, according to the indictment.

 
www.businessinsider.com

SBF played 'League of Legends' so much he was gaming during pitch meetings. Now his lawyers say there'll be no more online games for the crypto king.

A new bail agreement proposes that Bankman-Fried can have a laptop with access to YouTube and DoorDash, but not his favorite video game.
www.businessinsider.com www.businessinsider.com

Bankman-Fried's lawyers reached an agreement with New York prosecutors on Monday to ban him from using most electronic devices while awaiting trial, per court documents seen by Insider. His trial is set for October 2.
Click to expand...
 
www.forbes.com

Sam Bankman-Fried’s Legal Defense Is Being Funded With Alameda Money He Gifted His Father

While still CEO of now-collapsed FTX, Bankman-Fried transferred millions of dollars to his father. Some of those funds have since been used to pay for his mounting legal fees, according to two sources close to the company.
www.forbes.com www.forbes.com

While still CEO of now-collapsed FTX, Bankman-Fried transferred millions of dollars to his father. Some of those funds have since been used to pay for his mounting legal fees, according to two sources close to the company.​

Click to expand...
 
www.coindesk.com

FTX EU Starts Process of Allowing Customers to Withdraw Funds

FTX EU has begun the process of allowing customers to withdraw funds locked up since parent FTX filed for bankruptcy protection last November. This comes as some clients are hoping for a reboot of the failed crypto exchange. FTX creditor Sunil Kavuri shares his reaction.
www.coindesk.com www.coindesk.com

FTX EU has begun the process of allowing customers to withdraw funds locked up since parent FTX filed for bankruptcy protection last November.
Click to expand...
 
Corrupt SBF is hanging out at home with his law-professor parents, who were neck deep or over their heads in SBF's crypto corruption, busy busy busy covering their collective *advertiser censored**es and planning a defense, as charges pile up against SBF.

The scale of corruption is staggering and now it's apparent he was deep into bribing foreign officials and campaign finance violation territory (Thanks for the link @Countem!).

There is basically nothing that SBF did that was legal; he's now a poster boy for crypto corruption, his shenanigans have brought down banks and destroyed people financially This may not be all of it though. One of the "outstanding" aspects of crypto is that it's the perfect vehicle for laundering dirty money.

This guy needs to be in custody until trial or just jam internet/electronics to the household! Any indication that electronic communications are being monitored or phones tapped at the Bankman-Fried household?
 
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