Instead of sitting in a jail cell, SBF after a recent first class flight to his parents multimillion dollar home is still a free man. Admittedly one with an ankle bracelet. Rather than plead guilty like the other high ups at his company, he's doubling down on his defense claiming he did nothing illegal and if FTX hadn't been forced to decllare bankruptcy, the company would be doing OK now.
He posted a length defense yesterday on a substack he started, where he stated, "I didn’t steal funds, and I certainly didn’t stash billions away."
Any financial guys on here? I haven't seen much analysis of his defense. Has anyone ripped it apart? If so, please link to those articles.
I'm not a finance guy but to me it's clear he took clients FTX money and invested it without their permission. That is stealing.
If you put $100 a safety deposit box at a bank and that bank then proceeds to take that money, it's theft - full stop. It doesn't matter if they were intending to turn it into $200 and keep the profit for itself and give you back your $100, that's still theft, end of story.
SBF is starting to remind me of George Santos. He keeps repeating a fake alternate reality that simply isn't true but he seems to think if he does so, people will believe it's true. I guess he's got nothing to lose as he may spend multiple decades if not life in prison otherwise but it's really starting to piss me off.
