Mega-Fraudster Sam Bankman-Fried Arrested

by Stephen Lendman

In Chapter 11 bankruptcy since November, SBF's FTX multi-billion dollar cryptocurrency exchange was a virtual Ponzi scheme operation.

It worked as long as money kept pouring in — about $32 billion when FTX's house of cards collapsed.

Yet even after it happened from mega-fraud, MSM across the board and deeply corrupted Dems covered for him.

Analyst Nick Giambruno explained that SBF's "cesspool…mishandl(ing) (of) customer deposits, was involved in shady activities in Ukraine, sold bitcoin it didn't have, and had suspicious connections with prominent politicians and regulators."

FTX was the second largest donor to undemocratic Dems, after notorious international con man, George Soros.

SBF got special regulatory treatment.

Tom Brady and other celebrities supported FTX.

Countless numbers of ordinary people were swindled by SBF.

Yet instead of truth and full disclosure about his virtual racketeering, the debauched NYT featured him — along with puppet Zelensky and other rogue elements — at its Nov. 30 DealBook Summit on business, culture and politics.

WaPo praised him for "pour(ing) millions into pandemic prevention" when nothing of the sort exists — except among individuals jabbed with health-destroying kill shots.

The WSJ claimed that he "plan(ned) to save the world (sic)."

Interviewed on US national television, he was given a platform to lie and mass deceive viewers.

Without MSM support — before and after FTX's collapse — his mega-fraud likely would have been exposed much sooner.

The firm was involved in Biden regime/Ukraine money laundering.

Analyst Chris McIntosh explained it as follows, saying:

Dems "sent billions of dollars to Ukraine."

Puppet Zelensky laundered unknown amounts of it in FTX through middlemen. 

PT Barnum was right about "a sucker born every minute" — whether or not he actually said it.

And no matter how often people are fooled, they're easy marks to be mind-manipulated again by the power of snake-oil con artists supported by MSM press agents.

As a previous article explained, insolvency expert, attorney John J. Ray III, now in charge of FTX's liquidation, said the following:

What he uncovered so far was "a complete failure of corporate controls" — more egregious than anything he earlier saw.

Software was designed to conceal "misuse of corporate funds" to buy luxury real estate in the Bahamas  and other personal items for management.

Is the jig up for mega-fraudster SBF?

On Monday, the WSJ reported that he was arrested in the Bahamas where he's been hiding out since since the FTX house of cards collapsed.

According to a sealed indictment by the US attorney for the Southern District of New York, he's charged with wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and money laundering, according to an unnamed source.

US Attorney Damian Williams was quoted, saying:

"We expect to move to unseal the indictment (on Tuesday) morning and will have more to say at that time."

According to Bahamas police after SBF's arrest, "financial offenses against (US) laws…are also offenses against laws of the Commonwealth of The Bahamas." 

On Tuesday, SBF will appear in Nassau's Magistrate Court.

Separately on Tuesday, the SEC intends to file suit against him in Manhattan federal court for violations of US securities laws, the Journal reported.

His arrest came a day before he was scheduled to testify before the Dem-controlled House Financial Services Committee.

Its chairwoman, Maxine Waters, was criticized for remarks like the following about SBF, saying:

"We appreciate that you've been candid in your discussions about what happened at FTX (sic)."

"Your willingness to talk to the public will help the company's customers, investors, and others (sic)."

"To that end, we would welcome your participation in our hearing on the 13th."

That's off following his arrest.

In mid-November, Axios reported that "dozens" of congressional members — mostly Dems — got "campaign contributions or indirect financial support from" SBF, adding:

Last spring, he "pledged to spend upwards of $1 billion on the 2024 election, particularly if Donald Trump were to run."

In late November, Fortune magazine said he "gave around $40 million to (Dems) and political action committees during the (2022) election cycle."

After being caught red-handed, he falsely claims that he "didn't ever try to commit fraud (sic)."

His swindling days likely over, the NYT likely swallowed hard in reporting on his Monday arrest — after supporting the mega-fraudster like other MSM, admitting what can no longer be concealed.

Even while reporting on his arrest, WaPo falsely called him "a leading proponent of the effective altruism philosophy, a movement that believes that rationality is key to doing maximum good in the world."

In his case, good-doing was only for himself and cronies by grand theft.

He got a taste of what he should face longterm by spending Monday night behind bars in a Nassau, Bahamas cell.

A Final Comment

Convicted on multiple counts of stealing billions from clients by transforming his wealth management business into a giant Ponzi scheme, fraudster Bernie Madoff was earlier sentenced to 150 years in prison, a virtual life sentence.

SBF warrants no less harshness for justice to be served.

Facing extradition to the US, former prosecutor, Renato Mariotti, said the process could take weeks or longer if he doesn't cooperate with local authorities.

Mariotti believes that "late 2023 is the earliest a trial would occur."

It's unclear if he'll be permitted to post bail to stay out of jail while awaiting extradition to the US.

He's a flight risk with likely hidden wealth so it may be denied if sought.