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".
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…
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".