Yugocean
Valued Contributor
Sam Bankman-Fried was arrested in the Bahamas on eight criminal charges; preparations are on to deport him to the US, but what will be proven there?
Reality and Arrest matter -
SBF, in general, used his exchange platform FTX to receive funds from investors and then used those funds to make debt transactions, risky trades, lavish private parties, shopping, and making illegal campaign contributions to US elections etc. through his crypto hedge fund, Alameda Research, without disclosing to his clients. But the arrests have been made in criminal cases like wire fraud, money laundering, and conspiracy to cheat.
Is Case Strong?
When an arrest is made, the matter is debated in court; if the arrest matter cannot be proven, the person may be released. Now FTX's lawyers can argue in court that Sam himself was not the culprit; he was just unable to stop it all. Since only SBF has been arrested, the case does not seem strong.
Reality and Arrest matter -
SBF, in general, used his exchange platform FTX to receive funds from investors and then used those funds to make debt transactions, risky trades, lavish private parties, shopping, and making illegal campaign contributions to US elections etc. through his crypto hedge fund, Alameda Research, without disclosing to his clients. But the arrests have been made in criminal cases like wire fraud, money laundering, and conspiracy to cheat.
Is Case Strong?
When an arrest is made, the matter is debated in court; if the arrest matter cannot be proven, the person may be released. Now FTX's lawyers can argue in court that Sam himself was not the culprit; he was just unable to stop it all. Since only SBF has been arrested, the case does not seem strong.
