Loading ...Earth To Reporters: Why Is No One Asking SBF What Happened To The $3.3 Billion He Borrowed?
It would be staggeringly embarrassing for the DoJ to make no filing against SBF or only a very weak and limited one, and then have jurisdictions seen as less than upstanding (that’s why SBF chose them, after all) making forceful cases that SBF had violated their laws…
Despite the fact that it’s generally seen as a very bad idea to say anything about your past conduct when you are a litigation target, and likely for a criminal case, and SBF has said his lawyers are opposed to talking to the press, SBF is nevertheless swanning about on his media tour.
Even though SBF got a bit of pushback from Sorkin on the question of co-mingling of funds when SBF tried playing, “Oh it was sort of allowed and anyway things were a mess,” he and other reporters didn’t probe very hard once they got his next layer of excuses: “Oh I didn’t mean to do anything bad, I don’t have access to records any more and my memory is fuzzy, and I really didn’t have anything to do with Alameda.” (NB: SBF owns 90% of Alameda).
Alameda made $3.3 billion of loans to SBF, $1 billion as a personal loan, and $2.3 billion to a 100% SBF-controlled entity, Paper Bird, that is outside the FTX-Alameda bankruptcy.