SAM BANKMAN-FRIED ARRESTED 👀
Just as we suspected, Sam Bankman Fried (SBF) the former CEO of the bankrupt and collapsed crypto exchange FTX was arrested today in the Bahamas when the Southern District of NY shared an indictment with the Bahamian government.
We discussed this collapse last week and the week before and we knew SBF/someone would be held accountable for what happened with FTX but no one knew exactly what that would entail, and when it would happen. SBF was expected to testify before the House Financial Services Committee sometime this week, but his attorneys are saying that he will not testify. This makes a lot of sense to me!🤷🏾♀️
The New York Times is now reporting that the charges against him include wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, and money laundering. That’s a lot of stuff to have to be answerable for but he’s going to have to do it!
Also, CNBC is reporting that the Royal Bahamas police after confirming his arrest said that he would appear in magistrate court in Nassau, Bahamas on Tuesday; he is expected to be extradited to the USA soon.
A statement from the Bahamas Prime Minister included this information: “While the United States is pursuing criminal charges against SBF individually, The Bahamas will continue its own regulatory and criminal investigations into the collapse of FTX, with the continued cooperation of its law enforcement and regulatory partners in the United States and elsewhere.”
Hopefully, you didn’t have any assets on the FTX platform, but if you did I hope you know that you shouldn’t count it as a loss. God is a Restorer; the devil always loses and you always win! God can get those assets back to you and more besides, just keep on trusting in Him!
Peace out, we’ll have more crypto and stock news tomorrow!
Copyright ©2022 Sherma Jacqueline Felix, BLACK ADVANTAGE Publishing™. The author shall neither be liable nor responsible for any loss or damage allegedly arising from any information or suggestions in this post.