Bankman-Fried Arrested In The Bahamas.

Originally Posted by The_Waco_Kid

Your inner Conspiracy Theorist is strong.

Maybe you are related to Ducbutter.

See Kevin O'Leary's interview on Squawk Box this morning.

See Kevin O'Leary's interview on Squawk Box this morning. Originally Posted by WTF

let's do that, shall we?


https://www.cnbc.com/2022/12/16/form...ypto-firm.html


Points

• Investor Kevin O’Leary appeared on CNBC’s “Squawk Box” to face questioning over his thoughts on disgraced FTX founder Sam Bankman-Fried and O’Leary’s involvement with FTX.
• O’Leary insisted that every individual was entitled to the presumption of innocence under the law.
• “There are a lot of bad things that have been alleged here, and a lot of them are going to be true, likely,” O’Leary said.

he's not wrong. this isn't Italy for example where their system is guilty until proved innocent.


the reason you bring this up is because O'Leary defended his endorsement. so what if he did? he and a slew of other people endorsed FTX like Tom Brady and his now ex-wife, Steph Curry and Shaq to name some of the prominent people who also did. are they guilty by association? were they in on it? you probably think so. well maybe not in on it, but i'd bet you certainly think they are somehow guilty by association.


note also what O'Leary said ..


“There are a lot of bad things that have been alleged here, and a lot of them are going to be true, likely,” O’Leary said.


do you think these people like O'Leary and Brady knew or should have known what was going to happen? do you think they should be held accountable? you'd have to prove conclusively they knew what was happening and there is virtually no way they did.


did you think little sammy sat in a meeting with Shaq and told him when pitiching him for a celeb endorsement and casually said .. "oh by the way, Shaq, i'm going to commingle funds and if my hedge fund goes south i'm gonna steal money from my exchange customers to cover my ass!"


bahahahahhaaaaa

I don't know how or if this plays into this but it is interesting to say the least.


https://www.cnn.com/2022/10/03/inves...lus%20interest.


Kim Kardashian charged by SEC, agrees to pay $1.3 million fine


Kim Kardashian agreed to pay a $1.26 million fine to the Securities and Exchange Commission to settle civil charges after the reality TV star touted a crypto asset, EthereumMax, on Instagram.
The SEC charged Kardashian with failure to disclose that she was paid $250,000 to publish her Instagram post. In addition to paying the fine, she agreed to cooperate with the SEC’s ongoing investigation.
“This case is a reminder that, when celebrities or influencers endorse investment opportunities, including crypto asset securities, it doesn’t mean that those investment products are right for all investors,” said SEC Chair Gary Gensler. “We encourage investors to consider an investment’s potential risks and opportunities in light of their own financial goals.”


The SEC may have targeted Kardashian as a way to send a message to other influencers who might be promoting crypto currencies or other investment assets, said Charles Whitehead, professor at Cornell Law School. He called it a “shot across the bow” for celebrity crypto endorsers.




“It’s a way to signal to other influencers: if you’re thinking about dealing with crypto, think twice,” said Whitehead. “The SEC is also using her as an influencer – but to boost compliance with securities laws. [It’s a] smart way to bring attention to the matter so others won’t do it.”
Kardashian isn’t the first celebrity to pay an SEC fine for using their influence to push crypto currencies. In 2018 boxer Floyd Mayweather Jr. and music producer DJ Khaled each paid fines for pushing cryptos. Mayweather, who had been compensated $300,000, paid a bit more than $600,000 in penalties, while Khaled, who had been paid $50,000, was hit with penalties topping $150,000. In addition actor Steven Segal paid more than $300,000 in penalties for doing the same thing in 2020.


Pretty sure Brady and his ex were paid. Did they disclose their compensation properly?

let's do that, shall we?


https://www.cnbc.com/2022/12/16/form...ypto-firm.html


Points

• Investor Kevin O’Leary appeared on CNBC’s “Squawk Box” to face questioning over his thoughts on disgraced FTX founder Sam Bankman-Fried and O’Leary’s involvement with FTX.
• O’Leary insisted that every individual was entitled to the presumption of innocence under the law.
• “There are a lot of bad things that have been alleged here, and a lot of them are going to be true, likely,” O’Leary said.

he's not wrong. this isn't Italy for example where their system is guilty until proved innocent.


the reason you bring this up is because O'Leary defended his endorsement. so what if he did? he and a slew of other people endorsed FTX like Tom Brady and his now ex-wife, Steph Curry and Shaq to name some of the prominent people who also did. are they guilty by association? were they in on it? you probably think so. well maybe not in on it, but i'd bet you certainly think they are somehow guilty by association.


note also what O'Leary said ..


“There are a lot of bad things that have been alleged here, and a lot of them are going to be true, likely,” O’Leary said.


do you think these people like O'Leary and Brady knew or should have known what was going to happen? do you think they should be held accountable? you'd have to prove conclusively they knew what was happening and there is virtually no way they did.


did you think little sammy sat in a meeting with Shaq and told him when pitiching him for a celeb endorsement and casually said .. "oh by the way, Shaq, i'm going to commingle funds and if my hedge fund goes south i'm gonna steal money from my exchange customers to cover my ass!"


bahahahahhaaaaa Originally Posted by The_Waco_Kid

I agree with O'Leary and think these so called know it all after the fact should pipe the fuck down. Including you.

What you posted wasn't a third of the interview...I'm on Mr Wonderful's side.

But I still have no pity for those that listen to Tom Brady , his wife , Shaq or Steph Curry for money management advice and put their money in that exchange.

I agree with O'Leary and think these so called know it all after the fact should pipe the fuck down. Including you.

What you posted wasn't a third of the interview...I'm on Mr Wonderful's side.

But I still have no pity for those that listen to Tom Brady , his wife , Shaq or Steph Curry for money management advice and put their money in that exchange. Originally Posted by WTF

don't bet on it.

and i find it amusing you know more than the SEC which charged sammy with stealing customer funds.


bahahahahaa

Am I oversimplifying this? ……Bankman-Fried took money that did not belong to him and bought cars, houses and Politicians.

Is it really that simple?

Am I oversimplifying this? ……Bankman-Fried took money that did not belong to him and bought cars, houses and Politicians.

Is it really that simple? Originally Posted by Jackie S

yes. no matter what WTF thinks.

I'm on Mr Wonderful's side. Originally Posted by WTF

let's do that, shall we?


https://www.cnbc.com/2022/12/16/form...ypto-firm.html


Points

• Investor Kevin O’Leary appeared on CNBC’s “Squawk Box” to face questioning over his thoughts on disgraced FTX founder Sam Bankman-Fried and O’Leary’s involvement with FTX.
• O’Leary insisted that every individual was entitled to the presumption of innocence under the law.
• “There are a lot of bad things that have been alleged here, and a lot of them are going to be true, likely,” O’Leary said.

he's not wrong. this isn't Italy for example where their system is guilty until proved innocent.


the reason you bring this up is because O'Leary defended his endorsement. so what if he did? he and a slew of other people endorsed FTX like Tom Brady and his now ex-wife, Steph Curry and Shaq to name some of the prominent people who also did. are they guilty by association? were they in on it? you probably think so. well maybe not in on it, but i'd bet you certainly think they are somehow guilty by association.


note also what O'Leary said ..


“There are a lot of bad things that have been alleged here, and a lot of them are going to be true, likely,” O’Leary said.


do you think these people like O'Leary and Brady knew or should have known what was going to happen? do you think they should be held accountable? you'd have to prove conclusively they knew what was happening and there is virtually no way they did.


did you think little sammy sat in a meeting with Shaq and told him when pitiching him for a celeb endorsement and casually said .. "oh by the way, Shaq, i'm going to commingle funds and if my hedge fund goes south i'm gonna steal money from my exchange customers to cover my ass!"


bahahahahhaaaaa Originally Posted by The_Waco_Kid

So, is O'Leary a crook or is he an idiot? Or both? Because those are the only reasons he would have leant his name to FTX's marketing efforts.

Despite his protestations, do you think WTF was buying and selling cryptocurrencies on an exchange controlled by some 30 year old out of the Bahamas? Hell no. I can guarantee you none of the Eccie Economic and Financial Brain Trust did. Not you, not me, not Texas Contrarian, not Lusty Lad, and not WTF.

Look back on bubbles in years past -- tulips, shares in the South Sea Company, Bernie Madoff's hedge fund -- at least those had some real underlying assets. Not Crypto. Crypto's a bigger Ponzi scheme than social security or Medicare. And O'Leary chose to become a poster boy for Crypto. Hilarious! I wish I'd seen that episode on CNBC. It was probably almost as hilarious as their interviews with Chamath Palihapitiya, the King of SPAC's.

It really is simple, no need for 4 pages of blabbering.

Sam had an exchange and a hedge fund and a crypto currency.
Sam stole the money.
Since the exchange accounts are not covered by government insurance, investors who had money there will only get back what they get from the bankruptcy proceedings. Likely nothing.
Sam has been arrested. After the trial, likely Sam will be sentenced to many years in jail.

It has been entertaining to see 2 of the poster titans exchange salvos.

There are crooks and hucksters everywhere, not only crypto. NFTs have a lot of hucksters that make big announcements.

The good news is, I just renewed a CD at 4%......4%. I feel like I won the lottery!!!!

So, is O'Leary a crook or is he an idiot? Or both? Because those are the only reasons he would have leant his name to FTX's marketing efforts.

Despite his protestations, do you think WTF was buying and selling cryptocurrencies on an exchange controlled by some 30 year old out of the Bahamas? Hell no. I can guarantee you none of the Eccie Economic and Financial Brain Trust did. Not you, not me, not Texas Contrarian, not Lusty Lad, and not WTF.

Look back on bubbles in years past -- tulips, shares in the South Sea Company, Bernie Madoff's hedge fund -- at least those had some real underlying assets. Not Crypto. Crypto's a bigger Ponzi scheme than social security or Medicare. And O'Leary chose to become a poster boy for Crypto. Hilarious! I wish I'd seen that episode on CNBC. It was probably almost as hilarious as their interviews with Chamath Palihapitiya, the King of SPAC's. Originally Posted by Tiny

I agree with Kevin in that I still believe in the presumption of innocence until all the facts come to light. This Binance character sure got ride of his competitor.

Btw...has anyone taken a look and seen how much Bernie's clients clawed back.

I do not seen that % being nearly as high as I do not view Crypto as a true asset.


But people are still promoting and trading Crypto...are the promoters all crooks? Are all the buyers idiots?

don't bet on it.

and i find it amusing you know more than the SEC which charged sammy with stealing customer funds.


bahahahahaa Originally Posted by The_Waco_Kid

You quote me and then your reply has no correlation to what I actually said

Look back on bubbles in years past -- tulips, shares in the South Sea Company, Bernie Madoff's hedge fund -- at least those had some real underlying assets. Not Crypto. Crypto's a bigger Ponzi scheme than social security or Medicare. And O'Leary chose to become a poster boy for Crypto. Hilarious! I wish I'd seen that episode on CNBC. It was probably almost as hilarious as their interviews with Chamath Palihapitiya, the King of SPAC's. Originally Posted by Tiny

Not sure the Tulip had much for underlying assets but it appears they have recovered 88% of the Madoff booboo.

Recovery of funds from the Madoff investment scandal has been underway since the scandal broke in December 2008. That month, recovery trustee Irving Picard received funds from the Bank of New York account where Bernard Madoff held new investments into his Ponzi scheme. As it has been concluded that no legitimate investments were made on the investors' behalf for at least the last 12 years of operation, recovery has proceeded on a "money in/money out" basis. Investors are entitled to receive no more than the nominal cash amounts that they paid in and did not subsequently withdraw, without regard to inflation, interest, opportunity cost or the false statements that Madoff provided them.[1] Those statements combined to a total balance of approximately $64 billion,[2] while the admitted claims amount to $19.5 billion. As of March 2022, the trustee had recovered $14.5 billion toward these claims through legal action against Madoff associates, feeder funds and beneficiaries of the scheme, and had made thirteen distributions to investors.[3] Additional recovery efforts by the Department of Justice have brought the total recovery to 88% of claims.[4]