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Ex-FTX CEO Bankman-Fried arrested in Bahamas as U.S. files charges
I'm glad I couldn't figure out how bitcoin or any other form of crypto was valued, other than it was worth what anyone says it was at any point in time. Thus I opted to take the path going around that cesspool.
I couldn't have said it better myself. "It was worth what anyone says it was". Bingo! That's why I've stayed away from bitcoin.
Nah old Joe. Do respect your comments but disagree. I've read many many left comments on the financial boards here I feel you are calling me out because of my views are not in alignment with a far left political perspective.
@Baseball Fan. Anyone who disagrees with Maga craziness is called “far left” by those anti democracy traitors. That is just ridiculous. And reveals so much about what those who casually throw that term around.
I agree that the money should be distributed to the victims, but I bet the politicians are anxious to get rid of the hot potato and do something now. It will probably be a long while before any bankruptcy fund is set up.
Most of the charitable donations are same amounts ( except Beto's who gave the money back before the bankruptcy; so does that mean that SBF then stole that too?)
@baseball Fan and @larryB, The MAGA crowd are unreal in their ignorance and stupidity. They say the mainstream media is full of crap but then they follow Qanon who has never, ever been correct about anything, ever. They try to overturn the election and make none of our votes count, they are fine with Trump saying to tear up the constitution, the document our country is founded on and then they run around calling themselves “Patriots.” Trump has done more damage to this country than 9/11 and Pearl Harbor combined. I cannot believe that this pathological liar, con man, grifter is able to pull the wool over the Maga crowds eyes so easily. If the MAGA crowd used the same standards they judged Obama by and applied those to Trump they would of turned on him after a week in office. But what is the difference between the two men…….hmmm……oh yeah, Obama is black and that is where the other great thing the Maga crowd brings to the table, racism.
"At a news conference on Tuesday, Damian Williams, the United States attorney for the Southern District of New York, called on “any person, entity or political campaign that has received stolen customer money” to “work with us to return that money to innocent victims.”
Federal Election Commission regulations require political campaigns and committees to give back donations that are later determined to be illegal, even if the funds have already been spent and new money needs to be raised to pay for the refunds.
The idea behind the law “is to essentially get tainted money out of the system, even when the committees that accepted it are not at fault,” said Sean J. Cooksey, an F.E.C. commissioner."
Rules for claw-backs under bankruptcy are complicated. It depends on intent, purpose and parties involved. Although 2 years is often mentioned in the media, the range be 90 days to multiple years.
"At a news conference on Tuesday, Damian Williams, the United States attorney for the Southern District of New York, called on “any person, entity or political campaign that has received stolen customer money” to “work with us to return that money to innocent victims.”
Federal Election Commission regulations require political campaigns and committees to give back donations that are later determined to be illegal, even if the funds have already been spent and new money needs to be raised to pay for the refunds.
The idea behind the law “is to essentially get tainted money out of the system, even when the committees that accepted it are not at fault,” said Sean J. Cooksey, an F.E.C. commissioner."
I'm glad FEC regulations stipulate that tainted funds must be returned. Hopefully, this process will not be too lengthy or cumbersome but I somehow doubt that will be the case.
Comments
Most of the charitable donations are same amounts ( except Beto's who gave the money back before the bankruptcy; so does that mean that SBF then stole that too?)
"At a news conference on Tuesday, Damian Williams, the United States attorney for the Southern District of New York, called on “any person, entity or political campaign that has received stolen customer money” to “work with us to return that money to innocent victims.”
Federal Election Commission regulations require political campaigns and committees to give back donations that are later determined to be illegal, even if the funds have already been spent and new money needs to be raised to pay for the refunds.
The idea behind the law “is to essentially get tainted money out of the system, even when the committees that accepted it are not at fault,” said Sean J. Cooksey, an F.E.C. commissioner."
U.S. Scrutinizes Political Donations by Sam Bankman-Fried and Allies
I'm glad FEC regulations stipulate that tainted funds must be returned.
Hopefully, this process will not be too lengthy or cumbersome but I somehow doubt that will be the case.