Dear Reader,
more unfolding's of the FTX debacle have been mainstream press released to the public. Here is my review of the articles.
FTX's UK investors, 13 of them, have filed reports to the UK police. Sam alleged sending of customer funds from FTX to another company he owned. One of the investor filings was of a investor who lost £1 million dollars! Yikes! :0 Simon Jones says the bad news is the UK investor is likely to never see a penny of his investment again. So no compensation for his troubles? I guess the only hope he has of see even a penny again of his £1 million is that the justice systems court hearing verdict rules in favour of those who lost big in thier investment's. That later on some kind of reimbersmant will be issued, however FTX international still looks like it is insolvent and SAM still did file for bankruptcy. This article state's that Sam Bankman pleas inocent to criminal charges linke to the FTX collapse. Probably something his lawyers say he should not do.
" Sam Bankman-Fried, 30, had illegally diverted massive sums of customer money from the company to a second firm that he owned, Alameda Research. " Doesn't look good for SAM that most mainstream media articles are pressing on his "diversion" of funds. This article is also another article that mentions the 13 investors and warns people about the dangers in crypto. Click city am to see full article and the FCA quote.
Still tho the mainstream press keeps using the word alleged. Presumably because the full court hearings have not all taken place yet and is still on going. As it reads, "allegedly a huge fraud", I would argue not just alledgedly when thier is hard evidence, leaks from Alameda employee's of the book records, but their you go. The next bit is quite damming...
" FTX's founder, Sam Bankman-Fried, 30, was indicted on two counts of wire fraud and six conspiracy counts last month in Manhattan federal court for allegedly stealing customer deposits to pay debts from his hedge fund, Alameda Research, and lying to equity investors about FTX's financial condition. He has pleaded not guilty. "
So conspiracies are real then. Shock horror. People really are conspiring to commit crime in this case financially. It has been brought to light through mainstream media that sets the informational world stage on the perspectives the minds of readers daily. In this case, it is a case of being caught red handed. No real way of getting around this. Was no childish mistake Sam is a adult and compos mentis as CEO of FTX while it lasted, no so sure if he still feels that way now tho.
DOJ Seized Sam Robinhood shares. Sams not getting that money. Sam still some how thinks he is entitled, that FTX clients do not need funds more than himself. This is showing cracks in the works and tells us all something about the mentality of Sam Bankman-Fried. $456 million of Robinhood shares tied to the now bankrupt derivatives exchange FTX is now in the custody of the U.S government. Federal criminal and civil siezure warrants led to the seizure of property the DOJ notified the court of this. Sam argued that he needed those funds to fund his defense. Should Sam be allowed to defend himself? Let me know in the comments below. Recovery skills have been implemented to chase down assets.
It's even in Investopedia. Signs this story will be going down big in the history book's. That our children of our children will read about this story and how it shaped our modern financial economy and the future of crypto if any is left after this ordeal. Which is likely it will. In my opinion right now thier are way too many people in supportive communities around crypto and what it can do to decentralised finance and bring sovereignty of self-custody, being your own banker and responsible more of your own funds, relying less on the banks. Is a far to strong of movement for it to go away over night, has been building for over a decade in solidity.
Market business insider. More stories are being released now on how investors are being "wiped out", even quarter back star Tom Brady has fallen victim to this massive fraud. Brady was former brand ambassador for FTX.
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Peace, love and joy.
All will be revealed to those who seek the truth.
Namasté
