{"id":526740,"date":"2022-12-14T02:56:27","date_gmt":"2022-12-13T23:56:27","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sbf-still-pretending-his-crypto-collapse-was-a-mistake-charges-show-it-was-a-con\/"},"modified":"2022-12-14T02:56:27","modified_gmt":"2022-12-13T23:56:27","slug":"sbf-still-pretending-his-crypto-collapse-was-a-mistake-charges-show-it-was-a-con","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sbf-still-pretending-his-crypto-collapse-was-a-mistake-charges-show-it-was-a-con\/","title":{"rendered":"#SBF still pretending his crypto collapse was a &#8216;mistake&#8217; \u2014 charges show it was a con"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3cfde2a1946\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3cfde2a1946\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/sbf-still-pretending-his-crypto-collapse-was-a-mistake-charges-show-it-was-a-con\/#%E2%80%9CSBF_still_pretending_his_crypto_collapse_was_a_%E2%80%98mistake_%E2%80%94_charges_show_it_was_a_con%E2%80%9D\" >&#8220;SBF still pretending his crypto collapse was a &#8216;mistake&#8217; \u2014 charges show it was a con&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CSBF_still_pretending_his_crypto_collapse_was_a_%E2%80%98mistake_%E2%80%94_charges_show_it_was_a_con%E2%80%9D\"><\/span>&#8220;SBF still pretending his crypto collapse was a &#8216;mistake&#8217; \u2014 charges show it was a con&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<div class=\"inline-module inline-module--columnist inline-module--author\">\n<div class=\"inline-module--author__img\">\n            <img decoding=\"async\" width=\"76\" height=\"69\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png?w=76&amp;h=69&amp;crop=1\" class=\"attachment-nyp_columnist size-nyp_columnist\" alt=\"Charles Gasparino\" loading=\"lazy\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png?w=152 152w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png?w=114 114w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png?w=76 76w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png?w=38 38w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png 706w\" sizes=\"auto, (max-width: 76px) 100vw, 76px\"\/><\/div>\n<\/div>\n<\/aside>\n<p>The behavior unveiled in the cascade of criminal and civil charges against Sam Bankman-Fried would seem hard to rationalize \u2014 but the accused crypto crook was clearly ready to spew more nonsensical excuses in testimony he was scheduled to give to the House Financial Services Committee on Tuesday.<\/p>\n<p>Of course, his arrest on money laundering, fraud and even campaign finance violations spared us more of the BS he\u2019s been spreading in recent weeks to a slew of gullible reporters. Yet a reading of his leaked prepared remarks, including his admission that he \u201cf\u2013ked up\u201d in evaporating billions in customer funds does provide insight into how Bankman-Fried fooled so many smart people for so long.<\/p>\n<p>It\u2019s been my experience covering white-collar crimes for the past 30 years that to pull such a stunt, you have to be smart, but also a delusional and pathological liar. These are sociopaths who can easily convince themselves that behavior can be justified \u2014 as SBF did with his incessant virtue signaling over \u201ceffective altruism.\u201d<\/p>\n<p>It\u2019s how they can keep their scams going without a second thought of who they\u2019re hurting. And it\u2019s why if even half of what was in the SBF indictment is true, SBF needs to go to jail for a very long time.<\/p>\n<p>Madoff hid his $64 billion Ponzi scheme for years behind a veneer of respectability that he spun in interviews and meetings with regulators. Yet even in prison, Madoff offered me barely a hint of guilt along with a variety of bizarre excuses for his crimes.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"684\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/1245584919.jpg?w=1024\" alt=\"Bankman-Fried was indicted in New York on Dec. 13. \" class=\"wp-image-25001473\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/1245584919.jpg?quality=75&amp;strip=all&amp;w=2048 2048w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/1245584919.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/1245584919.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/1245584919.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Bankman-Fried was arrested on money laundering, fraud and even campaign finance violations.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>He committed the fraud because he was \u201ctr<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ed into the greed of others,\u201d he once wrote me.<\/p>\n<p>It was only later, after serving time in prison and seeing what damage his scheme did to his own family, that Madoff admitted he made \u201ca terrible mistake.\u201d<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>SBF, meanwhile, keeps preaching that he was just a witness to the collapse of his FTX crypto exchange \u2014 that it was bad luck that happened <em>to him<\/em>, but because of him.<\/p>\n<p>But this was no accident, prosecutors say. Much of the money supposedly locked in FTX accounts appears to have vanished, either spent or traded away. It\u2019s possibly untraceable and likely unrecoverable.<\/p>\n<p>That means all those investors that had FTX crypto wallets are completely and utterly screwed.<\/p>\n<p>And yet, Bankman-Fried was prepared to tell the House Financial Services Committee that it was all a simple mistake. \u201cFTX didn\u2019t have a team dedicated to risk management,\u201d he admits, and that \u201cwe were not transparent,\u201d which is as far as he goes in admitting guilt.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/us-bahamas-bankman-fried-real-estate-portfolio-feat-image.jpg?w=1024\" alt=\"FTX filed for Chapter 11 bankruptcy protection last month.\" class=\"wp-image-25001474\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/us-bahamas-bankman-fried-real-estate-portfolio-feat-image.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/us-bahamas-bankman-fried-real-estate-portfolio-feat-image.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/us-bahamas-bankman-fried-real-estate-portfolio-feat-image.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Bankman-Fried and FTX bought 35 pieces of real estate valued at $256 million.<\/figcaption><figcaption><span class=\"credit\">Seaside Real Estate\/ Bahamas MLS<\/span><\/figcaption><\/figure>\n<p>SBF also claims he could have saved the whole operation with an infusion of capital just before his bankruptcy filing in early November. He said he received \u201ca large number of call from prospective investors, many of them potentially interested in contributing more than a billion dollars of financing.\u201d<\/p>\n<p>In other words, \u201cI could have kept the Ponzi scheme going if I just had more money.\u201d<br \/>There are so many bizarre and illogical excuses buried in the transcript of SBF\u2019s prepared remarks that I can\u2019t list them all. But just like Madoff before him, it may be a long time before SBF\u2019s reality denial field finally collapses and he admits what really happened.\n                        <\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/12\/13\/sbf-still-pretending-his-crypto-collapse-was-a-mistake-charges-show-it-was-a-con\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;SBF still pretending his crypto collapse was a &#8216;mistake&#8217; \u2014 charges show it was a con&#8221; The behavior unveiled in the cascade of criminal and civil charges against Sam Bankman-Fried would seem hard to rationalize \u2014 but the accused crypto crook was clearly ready to spew more nonsensical excuses in testimony he was scheduled to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":526741,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/newspress-collage-25000451-1670974306264.jpg?quality=75&strip=all&1670956381&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[135234,89897,137159,52214,76127,71101],"class_list":["post-526740","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ftx","tag-sam-bankman-fried","tag-12-13-22","tag-congress","tag-cryptocurrency","tag-scams"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/526740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=526740"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/526740\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/526741"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=526740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=526740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=526740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}