(TheLibertyRevolution.com)- It appears that Sam Bankman-Fried made too much money from his crypto Ponzi scheme for him to be prosecuted. Being ridiculously rich is probably why the dishonest Southern District of New York took over his trial.
SBF appeared in court yesterday. He was allowed to return to his Californian parents’ home. His parent’s house guaranteed his bond.
Some people think SBF will need to sell his property to repay investors, but will there be enough money to cover everyone?
Judge Jeanine Pirro stated that Sam Bankman-Fried might never go to trial because two of his closest associates have already entered guilty pleas. Pirro also referred to the 30-year-old accused fraudster as a “dirty scumbag” and said he was worse than Bernie Madoff.
Bankman-Fried, the creator of the defunct cryptocurrency company FTX, appeared in court in Manhattan on Thursday and was released on a record-breaking $250 million bail.
He will wait for his fraud trial at his parent’s $4 million California home.
Pirro declared that she thought the weight of the evidence against Bankman-Fried would be insurmountable due to the guilty pleas of his ex-girlfriend Caroline Ellison, the CEO of Alameda Research, a hedge fund owned by Bankman-Fried, and Gary Wang, the former chief technology officer of FTX.
The reason Bankman-Fried didn’t show up in court until after Ellison and Wang’s pleas were officially accepted, according to Pirro, is because the federal government “clearly wanted to get these two to plead guilty to very similar charges.”
They had to adhere to the terms of the plea agreement. The plea agreement’s terms require them to testify and work with the government to implicate Sam Bankman-Fried.
“That was done and tied up last night. And as soon as they landed in New York, it was a done deal,” said Pirro.
Pirro said what that means is that the chances of this going to trial are slim to none.
“If there is no trial, then the entire case will be swept under the rug. Politicians keep their millions or billions, investors in FTX will lose their billions, and everyone moves on,” Pirro concluded.