Sam told everyone on twitter that he was FORCED to allow Bahamas residents to withdraw their assets after everyone else had their assets frozen.
After he stole client assets and gambled them away his last action was to further enrich himself.
By doing this he gave privileged access to assets to HIS OWN BAHAMA RESIDENT employees.
Normally in a bankruptcy- the assets are frozen until the judge can determine who gets what…. Any last minute financial transactions are always suspicious.
Why would you believe that? He's been arrested by the Americans. He's basically going to to get away with it and keep most of his millions. Shit like this is why he was a political donor.
By doing this he gave privileged access to assets to HIS OWN BAHAMA RESIDENT employees.
This dodgy as fuck, yes, but seriously, you think this is to benefit his employees? Bahamas is a tax haven. The investors from the Bahamas are likely rich and powerful people who are "resident" there to enjoy those tax benefits. They are not the kind of people that would take kindly to being ripped of, and likely have their own "solutions" to this. The authorities in Bahamas no doubt weren't happy that their "residents" were ripped of in a scam like this as well. Sure, this probably isn't the first scam ran from within their country, but those scams are meant to target little people, not local Bahamas "residents".
I wouldn't be surprised if SBF was actually pressured to do this, despite the email, either by the authorities or perhaps more likely he had a "friendly" visit from a couple of men representing one of the local "residents".
we would be more than happy to open up withdrawals for all Bahamian customers
I'm not surprised he tried to bribe Bahamian government officials. I am a bit surprised they didn't take it and turned him over. Or took it and tossed him in a cell anyways. I'm guessing whoever is going to Epstein him offered more (or threatened more).
It feels like the Bahamians are already so deep in being a financial sector money moving that they don't want to lose credibility with their other clients by letting this guy get away with, what is likely, those client's funds that got stolen.
It's like why Panama has an extremely professional and well respected search and inspection team for the canal. They can't afford to start being bias with one group or another because of the dangerous political situation that would put them in. The Bahamians are relying on their credibility, and bribe from these scum fuck would make them look very bad to their other clients.
SBF seems to be painfully stupid… were talking a 10B plus fraud with accounting that is “worse than Enron” per the guy that fixed that. You dont escape that by stealing money and going “my bad, mumble mumble commingle”. You have a better chance of escaping that by pulling a McCaffee or moving to Mexico and opening your butt for a high ranked cartel member as their slave or something, and McCaffee wasnt even being looked for like this guy will be for his outright intentional fraud
Not exactly. He's got enough political allies that he can be protected from the extreme consequences of his crimes, by being arrested by allies. Kind of like how Maxwell isn't going to be raped or murdered in prison. She knows to shut her mouth, and serve her time in a comfortable facility because she's got the names of a lot of powerful people on her tongue.
Sam told everyone on twitter that he was FORCED to allow Bahamas residents to withdraw their assets after everyone else had their assets frozen.
After he stole client assets and gambled them away his last action was to further enrich himself.
By doing this he gave privileged access to assets to HIS OWN BAHAMA RESIDENT employees.
Normally in a bankruptcy- the assets are frozen until the judge can determine who gets what…. Any last minute financial transactions are always suspicious.
I want to see those assets clawed back.
Scorched. Earth.
My prediction is this will happen just after Christmas.
That's right, just two more weeks.....
You're predicting that it'll happen at all?
Why would you believe that? He's been arrested by the Americans. He's basically going to to get away with it and keep most of his millions. Shit like this is why he was a political donor.
I think the comment was /s.
At a guess…
This is the way
Looking at the vote count, I think more than a few people missed it with me.
It's as fanciful as believing those indictments are coming in two more weeks.
It also reduces the local authorities' motivation to go after him, if their country was exempt from his fraud.
This dodgy as fuck, yes, but seriously, you think this is to benefit his employees? Bahamas is a tax haven. The investors from the Bahamas are likely rich and powerful people who are "resident" there to enjoy those tax benefits. They are not the kind of people that would take kindly to being ripped of, and likely have their own "solutions" to this. The authorities in Bahamas no doubt weren't happy that their "residents" were ripped of in a scam like this as well. Sure, this probably isn't the first scam ran from within their country, but those scams are meant to target little people, not local Bahamas "residents".
I wouldn't be surprised if SBF was actually pressured to do this, despite the email, either by the authorities or perhaps more likely he had a "friendly" visit from a couple of men representing one of the local "residents".
I'm not surprised he tried to bribe Bahamian government officials. I am a bit surprised they didn't take it and turned him over. Or took it and tossed him in a cell anyways. I'm guessing whoever is going to Epstein him offered more (or threatened more).
It feels like the Bahamians are already so deep in being a financial sector money moving that they don't want to lose credibility with their other clients by letting this guy get away with, what is likely, those client's funds that got stolen.
It's like why Panama has an extremely professional and well respected search and inspection team for the canal. They can't afford to start being bias with one group or another because of the dangerous political situation that would put them in. The Bahamians are relying on their credibility, and bribe from these scum fuck would make them look very bad to their other clients.
SBF seems to be painfully stupid… were talking a 10B plus fraud with accounting that is “worse than Enron” per the guy that fixed that. You dont escape that by stealing money and going “my bad, mumble mumble commingle”. You have a better chance of escaping that by pulling a McCaffee or moving to Mexico and opening your butt for a high ranked cartel member as their slave or something, and McCaffee wasnt even being looked for like this guy will be for his outright intentional fraud
Not exactly. He's got enough political allies that he can be protected from the extreme consequences of his crimes, by being arrested by allies. Kind of like how Maxwell isn't going to be raped or murdered in prison. She knows to shut her mouth, and serve her time in a comfortable facility because she's got the names of a lot of powerful people on her tongue.
creditor preferences paid out within 90 days of a BK can be reversed by the trustee under US law.
afaik FTX didn't include any US customers (it had a separate entity for that).