SBF and its partners, Gary Wang and Caroline Ellison, have been arrested for one of the biggest scams in US history. SBF is in FBI custody after extradition from a Bahamas prison; Gary and Caroline are in SEC custody. They will be tried in court for the Southern District of New York.
Partners Guilty, not the Boss?
Although SBF is the main accused, it is claiming innocence, saying that it was unaware of what happened, which is why it could not stop the scam. On the contrary, according to SEC records, Gary and Caroline have admitted their error. A news is roaming that SBF was bailed out for $250 millions.
It's a strange situation; the trail hasn't even begun, and Gary and Caroline have already been convicted, this may led them to 110 years in jail , but these people have become interesting. It looks like Gary and Caroline will be punished, but SBF may get away.
Thoughts
Action against Caroline means Gary Gensler has lost his grip on the SEC, and the agency wants to kick him out. Also, Democrats want to save SBF in order to save themselves, because if he is found guilty, they may have to return the money they got from him.
