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VOICE ARCHIVE

Rachel Scharf

@rscharf_
11 posts
2024-05-29
Meanwhile, in SDNY: former Sam Bankman-Fried associate Ryan Salame got 7.5 years in prison today. He pled guilty but didn't cooperate/testify.
2024-05-29 View on X
The Block

A US judge sentences former FTX executive Ryan Salame to 7.5 years after he pled guilty to criminal charges over political contributions and more in 2023

But He Can Keep His Porsche X: Ryan Salame / @rsalame7926 : @eigenfxn ... I didn't steal shit, the government and all the cooperating witnesses said I didn't. Ryan Salame / @rsalam...

2024-03-16
My personal favorite part of the government's Sam Bankman-Fried sentencing submission. This is in Exhibit D, an SBF google doc under the heading “People who might be helpful.” [image]
2024-03-16 View on X
Bloomberg

Filing: prosecutors ask a judge to sentence SBF to up to 50 years in prison when he is sentenced on March 28; SBF's lawyers had suggested five to six years

Bob Van Voris / Bloomberg :

2023-11-04
As everyone's heard by now, the verdict is guilty on all counts. I was in the courtroom for the reading. SBF showed little emotion, but Joe Bankman slumped over and Barbara Fried visibly cried. As SBF was led out by court marshals, he looked back at his parents and was shaking.
2023-11-04 View on X
TechCrunch

A jury finds Sam Bankman-Fried guilty on all seven counts of fraud and money laundering in the FTX trial; the judge sets SBF's sentencing for March 28, 2024

and what comes next Qadir AK / Coinpedia Fintech News : DOJ Cracks Down: Binance and Tether Face Terrorism Financing Charges PC Gamer : ‘The king of crypto’ found guilty of fraud, ...

2023-11-03
As everyone's heard by now, the verdict is guilty on all counts. I was in the courtroom for the reading. SBF showed little emotion, but Joe Bankman slumped over and Barbara Fried visibly cried. As SBF was led out by court marshals, he looked back at his parents and was shaking.
2023-11-03 View on X
TechCrunch

A jury finds Sam Bankman-Fried guilty on all seven counts of fraud and conspiracy in the FTX trial; the judge sets SBF's sentencing for March 28, 2024

Sam Bankman-Fried, the co-founder and former CEO of crypto exchange FTX and trading firm Alameda Research, has been found guilty …

2023-11-02
Here's today's story on SBF closing args. Prosecutor Nick Roos said the defendant built FTX on a “foundation of lies” and then lied again when he took the witness stand and denied stealing $10 billion from customers of the crypto exchange. https://www.law360.com/...
2023-11-02 View on X
The Verge

US v. SBF: in closing statements, the US relied heavily on evidence to argue SBF is guilty and he was “greedy” while SBF's defense managed to make things worse

Mistakes aren't illegal, but fraud is — and Bankman-Fried's lawyers never made his defense land.

2023-10-26
Mark Cohen announced that Sam Bankman-Fried will testify during a phone conference this morning. The risky stratagem could allow SBF to rebut the central claim that he intended to commit fraud, but it also exposes him to a potentially brutal cross. https://www.law360.com/...
2023-10-26 View on X
Bloomberg

Sam Bankman Fried's lawyers say SBF plans to testify in his own trial when they start their case later this week, after damaging testimony from his inner circle

2023-10-12
Ellison says Bankman-Fried “didn't think rules like 'don't lie' or 'don't steal' fit into” his utilitarian moral framework of creating the most good for the most people. “It made me more willing to lie or steal... Over time it became something I was more comfortable with.”
2023-10-12 View on X
Bloomberg

US v. SBF: Caroline Ellison says SBF asked her to make false balance sheets to hide debt, he considered offering FTX shares to the Saudi crown prince, and more

Caroline testified that SBF ordered her to use FTX customer funds to cover up for Alameda's losses — and to lie to lenders about it.  She was in a “constant state of dread” about t...

When Genesis asked to see Alameda's balance sheet, SBF directed CE to conceal both the $10B in FTX customer borrows and $4.5B loans to him and other execs. She moved these amts to long-term loans and offsets to make Alameda look less risky and conceal the customer theft, CE says
2023-10-12 View on X
Bloomberg

US v. SBF: Caroline Ellison says SBF asked her to make false balance sheets to hide debt, he considered offering FTX shares to the Saudi crown prince, and more

Caroline testified that SBF ordered her to use FTX customer funds to cover up for Alameda's losses — and to lie to lenders about it.  She was in a “constant state of dread” about t...

Ellison calculated in June 2022 that Alameda had already borrowed $10B of the roughly $16B in customer deposits on FTX and there was a solid chance they'd be unable to meet customer withdrawals. But she took billions more to repay lenders, Ellison says, “because Sam told me to.”
2023-10-12 View on X
Bloomberg

US v. SBF: Caroline Ellison says SBF asked her to make false balance sheets to hide debt, he considered offering FTX shares to the Saudi crown prince, and more

Caroline testified that SBF ordered her to use FTX customer funds to cover up for Alameda's losses — and to lie to lenders about it.  She was in a “constant state of dread” about t...

Ellison says they used the term veiled term “FTX borrows” on spreadsheets for customer funds loaned to Alameda because SBF didn't want to put in writing what they were actually doing. This is a solid point in the govt's column as they work towards proving criminal intent...
2023-10-12 View on X
Bloomberg

US v. SBF: Caroline Ellison says SBF asked her to make false balance sheets to hide debt, he considered offering FTX shares to the Saudi crown prince, and more

Caroline testified that SBF ordered her to use FTX customer funds to cover up for Alameda's losses — and to lie to lenders about it.  She was in a “constant state of dread” about t...

2023-08-15
As promised, SDNY filed a superseding indictment today incorporating Sam Bankman-Fried's political donations into a wire fraud count, after the Bahamas said they didn't consent to campaign finance extradition. Notably, this doc pins SBF's donations at $100M for the first time. [image]
2023-08-15 View on X
Reuters

In an amended indictment, the US DOJ alleges SBF used money he stole from FTX customers to make $100M+ in political campaign donations before the 2022 midterms

Sam Bankman-Fried used money he stole from customers of his FTX cryptocurrency exchange to make more than $100 million …