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

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

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

The complaint is 28 pages long.

(1 of 9) Summary of Security Exchange Commission indictment of Samuel Bankman-Fried’s scheme to defraud investors. Click on the link to download the full indictment.https://t.co/OnUWMK4BSA@ASavageNation @mike_maloney @elonmusk @TuckerCarlson

— Bob Bishop – Forensic Investigator (@BobBish40288847) December 13, 2022

Even 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 all sorts of activities, as well, including ‘yield farming”.

(3 of 9) FTX used yield farming to induce investors to deposit funds and cryptocurrencies. pic.twitter.com/C6TYugexXX

— Bob Bishop – Forensic Investigator (@BobBish40288847) December 13, 2022

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 “fiat@FTX.com.”

(Hint: never comingle funds)

(5 of 9) FTX customer funds were comingled in Alameda, and the loan to Alameda was hidden on FTX’s balance sheet using an internal account labeled “fiat@FTX.com.” pic.twitter.com/AjbExkVJff

— Bob Bishop – Forensic Investigator (@BobBish40288847) December 13, 2022

The auditors of FTX appear to have some real big problems.  National accounting firms Armanino and Prager Metis failed to document the FTX multi-billion loans to Alameda in the audited financial statements. 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?

(7 of 9) Bankman-Fried committed perjury in testifying to Congress that FTX had a risk engine that mitigated client exposure. pic.twitter.com/KZGOPgFuiF

— Bob Bishop – Forensic Investigator (@BobBish40288847) December 13, 2022

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

(9 of 9) FTX Executives Singh and Wang borrowed $554 million and $224.7 million, respectively. pic.twitter.com/D17dYfHeWl

— Bob Bishop – Forensic Investigator (@BobBish40288847) December 13, 2022

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

The filing also doesn’t mention SBF’s parents who are attorneys at Stanford University 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 crypto currencies. 

Hat tip Bob Bishop

The post BREAKING: SEC’s Indictment of FTX’s Bankman-Freid Released – Any Mention of the AMOUNT of Donations from FTX to Politicians is Omitted – (Attached) appeared first on The Gateway Pundit.

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