Bitcoin

Nova on PBS tonight at 9PM has a report on cryptocurrency, NFTs. etc.
 
Trading real money for virtual money, what could go wrong? I'm not convinced yet that it was a Ponzi scheme. It seems it is just a garden variety fraud.

It should be a no brainer for the Bankruptcy Trustee to recover the donated money to the Democrats as a "Fraudulent Transfer".
 
Trading real money for virtual money, what could go wrong? I'm not convinced yet that it was a Ponzi scheme. It seems it is just a garden variety fraud.

It should be a no brainer for the Bankruptcy Trustee to recover the donated money to the Democrats as a "Fraudulent Transfer".
This dude was about to spill the beans, a prosecutors dream, but "they" decided to keep his mouth shut instead. What a trip. He was 100% paying the Dems with other peoples money because their shell games are over!!! One of my best pals bought into bitcoin at $48,000 and tried to get me in on this once in a lifetime chance at $55K. I hope it makes a come back.
 
This dude was about to spill the beans, a prosecutors dream, but "they" decided to keep his mouth shut instead. What a trip. He was 100% paying the Dems with other peoples money because their shell games are over!!! One of my best pals bought into bitcoin at $48,000 and tried to get me in on this once in a lifetime chance at $55K. I hope it makes a come back.
Keep in mind that there is no fraud requirement on behalf of the debtor or the recipient to recover a "fraudulent transfer". The requirements are that the debtor was insolvent at the time of the transfer (which will be simple to prove in this case) and that the transfer was made for less than equivalent value, which is also clear in this case since the Court will not consider "political influence" to be equal to $73 mm, probably valued closer to $0.

I'd be surprised if the Dem PAC's had direct knowledge of the Bankman fraud, although they should have been very suspicious. However, greed trumps common sense in politics. I will be curious to see what political influence he achieved with his contributions.

It will also be curious to see if any of the "woke" charities return the money he donated. By law the charities don't have to return the money in most cases; however, any legitimate charity should have "ill gotten" provisions which would influence their decision to return the donations.
 
Keep in mind that there is no fraud requirement on behalf of the debtor or the recipient to recover a "fraudulent transfer". The requirements are that the debtor was insolvent at the time of the transfer (which will be simple to prove in this case) and that the transfer was made for less than equivalent value, which is also clear in this case since the Court will not consider "political influence" to be equal to $73 mm, probably valued closer to $0.

I'd be surprised if the Dem PAC's had direct knowledge of the Bankman fraud, although they should have been very suspicious. However, greed trumps common sense in politics. I will be curious to see what political influence he achieved with his contributions.

It will also be curious to see if any of the "woke" charities return the money he donated. By law the charities don't have to return the money in most cases; however, any legitimate charity should have "ill gotten" provisions which would influence their decision to return the donations.
100% watty. I think Sam was blind sided and used by the big loss of everyone's life savings. 30 years old is easy to manipulate and use. He said the money was just gone when he woke up and he feels horrible. I would be sick to my stomach if I lost other peoples investments. I heard he wanted a second chance at a new start up to get people their money back. This all sucks for those caught in the middle of this heist. I'm also sure most of the Dems just took the dough as a goodwill offering and I'm sure the Republican's have taken some dirty dollars as well.
 
100% watty. I think Sam was blind sided and used by the big loss of everyone's life savings. 30 years old is easy to manipulate and use. He said the money was just gone when he woke up and he feels horrible. I would be sick to my stomach if I lost other peoples investments. I heard he wanted a second chance at a new start up to get people their money back. This all sucks for those caught in the middle of this heist. I'm also sure most of the Dems just took the dough as a goodwill offering and I'm sure the Republican's have taken some dirty dollars as well.
Blind-sided by his own greed and stupidity. Sometimes you have to judge a book by its cover.
 
Something smells like a rotten egg or fishy!!!

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Jonathan Turley reported that the arrest of Sam Bankman-Fried yesterday was sudden and unexpected in light of Bankman-Fried’s plan to testify before Congress. As a criminal defense attorney, my reaction to the arrest last night remains unchanged: this is the first time that I can recall where prosecutors moved aggressively to stop a defendant from making self-incriminating statements. His testimony would have been entirely admissible and likely devastating at trial.
 
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