Sam Bankman Fried Was Arrested

Sam bakemanfried was finally arrested Yesterday putting him on the coffee Zilla Wall of Shame and today we have Huge Bombshells to share with you of all The new evidence that just came out Starting with his arrest the Royal Bahamas police force just arrested Sam Last night in cooperation with the United States in light of criminal Charges finally being filed against Sam He’s been accused of multiple counts of Fraud and we’re going to talk about Everything he’s accused of but first I Want to say I know we haven’t heard Anything from law enforcement up to this Point but clearly it’s not because they Weren’t working they just didn’t want to Scare Sam into fleeing the country in Fact the Department of Justice hid their Indictment from the public they sealed It in order to prevent Sam from knowing They were coming and that strategy seems To have worked because even days before His arrest Sam was publicly saying in Interviews that he didn’t think he would Be arrested you’re certain that once all The investigations have happened that You won’t be arrested for fraud I don’t Think I will be I don’t think that I I Don’t think I tried to do anything wrong Wow so it looks like he fell for it Sam Must have thought that he was gonna get Away with it but that is not the case And now that he is arrested law

Enforcement have now all come out of the Woodwork all at once publicizing their Work so several charges got levied Against Sam from different law Enforcement organizations and we’re Going to go through all of them Including new evidence that we did not Know before but first I wanted a little More context so I asked a great YouTube Lawyer legal eagle to kind of break down This situation for us to explain who’s Going after Sam why and what we can Expect in terms of punishment yeah there Was a time when it was an open question As to whether the US government would Actually prosecute Sam bankman freed and Which department of the government had Jurisdiction and there were three likely Candidates the cftc the SEC and the doj Those questions have now been answered And the answer is everyone putting Together a successful prosecution for White-collar crimes takes a lot of time And while critics said that SPF would Never be prosecuted getting two Complaints in one indictment this pass Is about as fast as the government can Do absolutely anything now the cftc and The SEC filed civil complaints seeking Monetary damages and injunctive relief To prevent SPF from being basically near A corporation or anyone’s money ever Again the doj filed a criminal Indictment related to wire fraud charges

Conspiracy money laundering and campaign Finance charges now unlike the cftc and The SEC complaints if the doj convicts SPF could be looking at some serious Jail time it’s hard to say exactly how Much because at this point we don’t have All the facts related to the crime Seriousness scores or the potential Sentencing enhancements but here there Are three groups of victims FTX Customers Alameda lenders and the United States more victims generally means Consecutive rather than concurrent Sentences and the more money at issue The more severe the sentence for some Offenses any crime involving more than 550 million dollars gets the max Enhancements so we could easily be Talking about more than 20 years in jail Wow that’s very helpful context thanks To legal eagle for that Insight he’ll be Linked in the description below but now That we know what’s going on I want to Start talking about the sec’s complaint Because today they accused Sam of Defrauding investors for 1.8 billion Dollars quote bankman freed was Orchestrating a massive years-long fraud Diverting billions of dollars of Customer funds for his own personal Benefit now these are accusations we’re Familiar with but there’s very Interesting information here about Alameda’s missing eight billion dollars

If you remember during one of my Interviews with Sam we asked him where All the money had gone and he told us That there was this accounting error Which caused him to forget about eight Billion dollars of customer funds that Had been put in a poorly labeled Fiat Account and had been lent and lost by Alameda research but the SEC in this Complaint says that wasn’t an accident It was held in an account called Fiat which wasn’t poorly labeled for No reason or because it was a mistake According to the SEC Sam directed Alameda to hide this because he was Quote concerned that this enormous Liability would alarm alameda’s lenders And that kind of makes sense if you know Somebody doesn’t have a billion dollars Owes eight billion dollars that is Pretty alarming and would make you think Twice and this could be huge evidence of Intentional fraud and not only that the SEC claims on multiple occasions bankman Freed directed FTX to increase the Credit line amount by which Alameda Could maintain a negative balance on Their platform to the point where it Grew to billions of dollars and Effectively became Limitless now again We are familiar with that claim but Here’s another thing we didn’t know Because apparently Sam Bateman freed Also directed their 8 billion dollar

Liability to be moved into an account That wouldn’t be charged interest like Any normal user so in other words he Purposely moved their margin account Which he said he didn’t know about he Said he didn’t know about this 8 billion Into an account that wouldn’t be charged Interest like most of ftx’s users so all Of this evidence makes it seemingly Impossible that he didn’t know about This stub account or Fiat account Whatever he wants to call it like he Claims clearly he knew and the SEC Accusing him of this adds a lot of Credibility to that now in addition to The SEC this internal knowledge of Sam And Alameda was further confirmed in a Hearing today in the U.S House committee Where the bankruptcy lawyer John Ray III Who’s overseeing the FTX bankruptcy he Was asked about if there’s any way Sam Didn’t know about the back door access That Alameda had and here’s what he said That back door which you’ve said allowed For unlimited access of Alameda Essentially unlimited access into the FTX customer accounts to fund their Investments In your eyes is there any way that Sam bankman freed or Senior Management Wouldn’t know about this sort of thing No wow Sam is getting slammed from every Direction including the guy overseeing His company’s own bankruptcy you know

What I couldn’t be happier because up Till now it’s just been Sam talking About how this was an embarrassing Mistake and finally the adults have come In the room we have real investigators Forensic professionals saying there’s no Shot that this story is true on top of That the company’s own accounting Practices were just horrific which I Found funny they used QuickBooks Multi-billion dollar company using QuickBooks QuickBooks QuickBooks I like How the congresswoman can’t even believe It could be so terrible at FTX I mean I Know this isn’t evidence of fraud it’s Just kind of funny and embarrassing Because I use QuickBooks for my YouTube Channel but these guys are using it for A billion dollar organization and you Can tell this bankruptcy lawyer is like Oh my gosh they’re using QuickBooks Nothing against QuickBooks very nice Tool just not for a multi-billion dollar Company Now from here I want to move on from the SEC and the house committee and I want To talk about the cftc revelations Because they also filed a complaint and Again it’s really bad for Sam it’s a 40 Page document but most alarming is this Revelation according to the cftc Sam Bateman freed knew back in September Remember they went bankrupt in November He knew back in September that Alameda

Was hopelessly insolvent and he Considered shutting it down quote in or Around September 2022 bankman free Drafted and shared a document that Questioned whether Alameda should be Permanently shut down the document Titled we came we saw we researched Began I only started thinking about this Today and so haven’t vetted it much but I think it might be time for Alameda Research to shut down honestly it was Probably time to do that a year ago and Then he says the most alarming part Quote the fact we didn’t hedge as much As we should have alone cost more in Expected value than all the money Alameda has ever made or ever will make In other words they were down bad they Had lost more money than they ever made Or ever will make he knew they weren’t Coming back from this back in September But did he unwind it did he release this Document no he kept the scam going and It’s just further evidence of this being An intentional fraud now from here we’re Finally going to move to the Big Kahuna The Department of Justice complaint Where we get to the criminal allegations And we talk about jail time so today the Doj released the sealed indictment where They revealed eight counts of fraud now We’re not going to go through every Single one of them because they kind of Repeat but they range from like

Conspiracy to commit wire fraud and wire Fraud itself to conspiracy to money Launder and then also conspiracy to Violate campaign Finance laws going back To the huge donations to political Parties they made but the big takeaway Is that if he actually goes down for These eight things he’s facing serious Prison time and in my opinion I think He’s going to be declared guilty of at Least some of these I think the evidence Is overwhelming I personally have a Confession from Sam that he co-mingled Funds we’ve got SEC complaints that he Knowingly hid those eight billion Dollars we got the cftc saying he knew Back in September that Alameda was in Trouble so it’s just there’s too much Stacked against him is what I’m saying But ultimately we will see what happens And you don’t actually know until the Actual trial happens so we will be Following it closely but either way I Just wanted to say this is a Win Regardless the fact that he’s arrested The fact he’s going to have to stand Trial and answer for what he’s done and Not be able to weasel his way out of it Is something I’m very happy about it’s a Huge win for everyone I just wanted to Cover this real quick thank you for Watching thank you for supporting and I Will see you in the next one

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