Major Democrat Donor "Enrons" Out This Week

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Spock
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Major Democrat Donor "Enrons" Out This Week

#1 Post by Spock » Sat Nov 12, 2022 9:27 am

I am sure that SSS and the Bobs just haven't got to this yet-I am sure that they planned to tell us all about it.

In an Enron style collapse, Sam Bankman-Fried who donated $40 Million to the Democrats for the midterms is in big trouble. I believe that he was the second largest donor to Democrats this cycle and had pledged 1 Billion to the party over time.

His crypto exchange FTX filed for bankruptcy.

130 affiliated companies are involved-I wonder how many people this guy defrauded of millions.

https://www.cnbc.com/2022/11/11/sam-ban ... uptcy.html

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Weyoun
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Re: Major Democrat Donor "Enrons" Out This Week

#2 Post by Weyoun » Sat Nov 12, 2022 11:18 am

The rumor is that he fled to Argentina. Little bit of a ironic move for a Jew, but any port in a storm

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Re: Major Democrat Donor "Enrons" Out This Week

#3 Post by Spock » Sat Nov 12, 2022 12:40 pm

He was right up there at the highest levels of power.

Sharing the stage with Clinton and Blair.

https://nybreaking.com/im-sorry-says-bo ... is-mounts/

Reuters reports at least 1 Billion of customer funds missing.

https://www.reuters.com/markets/currenc ... 022-11-12/

Nice that he was able to throw millions of that to the Democrats before the collapse though.

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Re: Major Democrat Donor "Enrons" Out This Week

#4 Post by Spock » Thu Nov 17, 2022 9:03 am

Oopsie

https://pbs.twimg.com/media/FhvhmCEXgAE ... name=large

I am guessing Sam Bankman-Fried won't be showing up for this November 30 event with Zelensky, Zuckerman and Yellen.

I have looked into the rabbit hole on this a little and I can't figure out how he had time to commit fraud or even do any trading with all the warm tongue baths he was getting from TPTB.

The funniest thing is when they laud his frugality for living in an apartment with 10 roommates without telling you that it was a 40 million dollar penthouse in an exclusive Bahamas development.

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Re: Major Democrat Donor "Enrons" Out This Week

#5 Post by Spock » Thu Nov 17, 2022 9:18 am

Once again-the difference between "Smart" and 'Wise."

The smartest people in the world (or at least those who think they are the smartest, and have always been told how smart they are) were taken in by this massive fraud committed by another guy who has always been told how "Smart" he is.

I am guessing that not very many wise people were taken in by this fraud.

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Re: Major Democrat Donor "Enrons" Out This Week

#6 Post by tlynn78 » Thu Nov 17, 2022 10:55 am

Spock wrote:
Thu Nov 17, 2022 9:18 am
Once again-the difference between "Smart" and 'Wise."

The smartest people in the world (or at least those who think they are the smartest, and have always been told how smart they are) were taken in by this massive fraud committed by another guy who has always been told how "Smart" he is.

I am guessing that not very many wise people were taken in by this fraud.
I didn't lose a dime to him. :lol:
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Re: Major Democrat Donor "Enrons" Out This Week

#7 Post by silverscreenselect » Thu Nov 17, 2022 11:48 am

Spock wrote:
Thu Nov 17, 2022 9:18 am
The smartest people in the world (or at least those who think they are the smartest, and have always been told how smart they are) were taken in by this massive fraud committed by another guy who has always been told how "Smart" he is.
It seems to me that the biggest victims were those involved in other cryptocurrency endeavors, which may be a case of sharks turning on each other. A lot of individuals got snookered because they listened to the "smart" people who have big social media followings on financial sites.
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Re: Major Democrat Donor "Enrons" Out This Week

#8 Post by silverscreenselect » Tue Dec 13, 2022 10:28 pm

Spock wrote:
Sat Nov 12, 2022 9:27 am
In an Enron style collapse, Sam Bankman-Fried who donated $40 Million to the Democrats for the midterms is in big trouble. I believe that he was the second largest donor to Democrats this cycle and had pledged 1 Billion to the party over time. His crypto exchange FTX filed for bankruptcy.
And now the rest of the story:
Federal authorities on Tuesday charged FTX co-founder Sam Bankman-Fried with using what they said was tens of millions of dollars of misappropriated customer funds to make illegal political donations to both Democratic and Republican candidates. Bankman-Fried diverted customer assets held by FTX, a major cryptocurrency exchange, to his separate crypto hedge fund, Alameda Research, the Securities and Exchange Commission charged in a civil complaint filed in Manhattan federal court. He then used those funds to make “large political donations,” to make investments and buy “lavish real estate,” the SEC complaint alleged.

A separate but related federal criminal indictment accuses Bankman-Fried and others of violating numerous federal campaign finance laws by, among other things, giving contributions of at least $25,000 to campaigns and political action committees “in the names of other persons.” Prosecutors said there was a conspiracy by Bankman-Fried and others to also make “corporate contributions” to candidates and political action committees in New York “that were reported in the name of another person,” according to the indictment.

The campaign finance allegations come days after a private watchdog group asked the Federal Election Commission to investigate Bankman-Fried’s political contributions. The watchdog, Citizens for Responsibility and Ethics in Washington, said Bankman-Fried admitted he donated so-called dark money to Republican-aligned groups during the 2022 primary season. Those donations would not have been disclosed in FEC filings. The complaint by CREW quotes an interview with Bankman-Fried, who is known as SBF, that suggests he donated up to $37 million or more to GOP-linked campaign efforts in a manner that avoided legally required public disclosure of those contributions.

Most of Bankman-Fried’s publicly disclosed campaign contributions, which totaled nearly $40 million in the 20222 election cycle, went toward Democrats, FEC records show. But FTX donated $1 million to the Senate Leadership Fund, a super PAC aligned with Republican Senate Minority Leader Mitch McConnell of Kentucky. The source of that contribution, according to the filing, is labeled as being West Realm Shires Services, the trading name for FTX. West Realm Shires Services also contributed $750,000 to the Congressional Leadership Fund, a super PAC that backs Republicans running for House seats and supported by the House Republican leadership.
https://www.cnbc.com/2022/12/13/ftx-fou ... tment.html

So, he donated openly to Democrats and gave dark money to Republicans.
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Re: Major Democrat Donor "Enrons" Out This Week

#9 Post by jarnon » Fri Mar 29, 2024 8:53 am

Bankman-Fried is going to prison for 25 years. Judge Kaplan (one of Flock’s nemeses) imposed a much shorter sentence than the prosecution and probation officers asked for.
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