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able to double the amount of damage his father will do and probably more. his son is influencing the father on the issues. >> todd: if you think the soros damage will end when he dies, each generation more and more progressive and have money to get their needs met. you don't just get to go to the white house. i cannot walk up and say i'm here, you have to be invited, why is this white house eager to met with alex? >> 20 years ago we could say george soros was a leftist, the main democratic party is the progressive party of george soros, his views are more -- just like bankman-freed.
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of your former office, the southern district of new york, that has drawn comparisons to the bernie may approximate tkauf case. >> reporter: yeah, paula. this happened real quickly. the prosecution of sam bankman-fried. it took just a coup of weeks between ftx and the federal indictment. the allegations are essentially fraud. bankman freed took his customers's money and used it for his own personal purposes and investments. now, he has been extradited from the bahamas. he is facing prosecution and potential trial in the southern district of new york, my former office. we have a long and storied history of prosecuting. the biggest many frauds from the junk bond traitors through we will see in 2023 weather he joins that list. >> next up, the supreme court and affirmative action. >> big one pending here, this
bankman-fried made the first u.s. court appearance moments ago in new york after he agreed to be extradited from the bahamas to face multiple criminal charges connected with the multibillion collapse of ftx. ahead of his arraignment, two of bankman-freed's top business partners, co-founder and almeda research, pleaded guilty to wire fraud, securities fraud, and other charges. federal prosecutors say they have also agreed to cooperate with investigators and are asking for others to do the same. >> let me reiterate a call that i made last week. if you participated in misconduct at ftx or al plea da, now is the time to get ahead of it. we're moving quickly and our patience is not eternal. >> joining me now is cnbc senior analyst ron insana. good to see you here. sbf will have to turn over the passport and report to his parent's california home by 10:00 a.m. and get an ankle monitor, but are you surprised that he was offered bail at all,
he does head to california he has been ordered to stay at his parent's house while he awaits trial. >> back up back up. >> get out of my car. >> hey. [shouting] >> what have you said to your investors who have lost so much? >> no answer from my question there. and really little or no expression in the courtroom today either from bankman-fried as he was seated in between two of his lawyers shackled on his ankles listening as the prosecutor called a fraud of epic proportions and said the evidence includes testimony from multiple coorpts. one will be a former colleague and girlfriend ellison. she is the co-founder of al made dough research. she pleaded guilty to seven counts and gary wong pleaded
the s&p 500 fell 56 the nasdaq dropped 232 today. the founder of that collapsed crypto currency firm sparked investigation into the industry is back on u.s. soil tonight and out on bail. former ftx ceo sam bankman-fried was extradited last night from the bahamas and on his way home to california. connell mcshane joins us from new york with the latest. good evening, connell. >> good evening, bret. the ftx founder was released on $250 million bail package here this afternoon. it was described by a prosecutor as the largest ever pre-trial bond. now, bankman freed had already agreed to waive his right to fight extradition and arrive here in the united states last night in a flight that came in from the bahamas. this morning in court for new york city initial appearance mocked by reporters and reporters on his way out and now
Sam Bankman Friedthe disgraced cryptocurrency executive, will soon return to the US to confront him fraud charges in federal court after telling a judge
founder sam bankman-fried remaining in the custody tonight because a judge denied his offer to pay a quarter million in cash bail, even though he said he had no money. the judge deeming him a flight risk. misusing customer funds and campaign finance violations. carlos suarez is "outfront." >> this is one of the biggest financial frauds in american history. >> reporter: ftx founder and former ceo samuel bankman-fried appeared before a judge in the bahamas at his extradition hearing. he was arrested at his home in the bahamas monday night at the request of the u.s. government. >> from 2019 until earlier this year, bankman-freed used the money for his personal benefit, including to make personal expenses and cover debts of his