BREAKING: SEC’s Indictment of FTX’s Bankman-Fried Released – Any Mention of the AMOUNT of Donations from FTX to Politicians is Omitted – (Attached)

The court filing of the SEC’s case against Sam Bankman-Fried (SBF) was released this morning.  Attached and below is the filing with some initial observations.

Bob Bishop shared these observations with TGP this morning and on Twitter.

Bankman-Fried Indictment.pdf – Google Drive

The complaint is 28 pages long.

Though it was clear that the company could not make its payments, executives at FTX took out millions in personal loans.  The company was involved in a variety of activities as well, including ‘yield farming.”

Bankman-Fried made numerous false claims that, even though he owned 90% of Alameda, he was not the ultimate decision-maker.  In addition, FTX customer funds were comingled in Alameda, and the loan to Alameda was hidden on FTX’s balance sheet using an internal account labeled “[email protected].”

(Hint: never comingle funds)

The auditors of FTX appear to have some serious problems.  National accounting firms Armanino and Prager Metis failed to document the FTX multi-billion loans to Alameda in the audited financial statements. They also missed related party transactions with FTX Executives. Massive audit failure.

(Bob Bishop is a retired auditor, he should know.)

Also, according to Bishop, Bankman-Fried committed perjury in testifying to Congress that FTX had a risk engine that mitigated client exposure.  Will he get charged with lying to Congress like Roger Stone and others?

SBF executed promissory notes of $1.3 billion while FTX Executives Singh and Wang borrowed $554 million and $224.7 million, respectively.

What is not in the SEC’s filing is the mention that SBF’s former girlfriend, Caroline Ellison,  was the CEO of Alameda.  Her father worked alongside SEC Chairman Gary Gensler at MIT for a period of time.  

The filing also does not mention SBF’s parents, professors at Stanford Law, and any connections they have with the operation. 

Most glaring is the omission of the amount of donations by FTX to corrupt politicians.  We still have no idea how much money went to corrupt US politicians through FTX using cryptocurrencies. 

Hat tip Bob Bishop

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Joe Hoft is a Radio Host at TNTRadio.live, Author, Former International Corporate Executive in Hong Kong for a Decade, and a Contributor at TGP since 2016. Joe is the author of five books, including his new bestseller, "The Steal: Volume II - The Impossible Occurs" which addresses the stolen 2020 Election and provides an inventory of issues that prove that the 2020 Election was uncertifiable and never should have been certified for Joe Biden.

You can email Joe Hoft here, and read more of Joe Hoft's articles here.

 

Thanks for sharing!