Your Guide to Criminal Capitalism: How to Spot The Next FTX
Our editorial director examines the FTX fiasco, and how a corporate failure can seemingly come out of nowhere to harm unwary investors.
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Our editorial director examines the FTX fiasco, and how a corporate failure can seemingly come out of nowhere to harm unwary investors.
Sam Bankman-Fried's Bahamas real estate portfolio, now valued at $222 million, is set to hit the market in April. Much of this property was bought with stolen FTX customer funds.
Meanwhile, hedge funds have bought over $2.3 billion worth of steeply discounted claims, and are expecting to be paid back in full.
Sam Bankman-Fried's parents Fried have arrived at court as the fraudster is set to face justice over stealing $8 billion from investors.
The 32-year-old will be sentenced today in the Southern District of New York for duping thousands of investors out of $8billion through his now defunct trading platform FTX.