FTX Founder Sam Bankman-Fried Arrested And Facing Multiple Criminal Charges — Transcript

Full transcript

1. 0:00he was once hailed as the king of crypto
2. 0:02but today Sam bankman freed founder and
3. 0:04former CEO of crypto exchange FTX is
4. 0:08facing criminal indictments and a wave
5. 0:10of civil complaints bankman freed and
6. 0:12his co-conspirator stole billions of
7. 0:14dollars from FTX customers
8. 0:16he used that money for his personal
9. 0:18benefit bankman freed arrested last
10. 0:21night in the Bahamas faces eight
11. 0:22criminal charges in the U.S authorities
12. 0:25alleging he defrauded investors by
13. 0:27funneling customers money into his own
14. 0:29hedge fund behind their backs as a
15. 0:31result they say eight billion dollars
16. 0:33have gone missing this committee will
17. 0:35not stop until we uncover the full truth
18. 0:38behind the collapse of FTX in Washington
19. 0:41today a congressional hearing on ftx's
20. 0:44collapse following what amounted to Iran
21. 0:46on the Bank last month bankman freed who
22. 0:48was expected to testify was instead
23. 0:51making his first court appearance in the
24. 0:52Bahamas there was no corporate controls
25. 0:55no corporate oversight ftx's new CEO
26. 0:57John Ray LED energy giant Enron through
27. 1:00bankruptcy after its collapse today
28. 1:02appearing before Congress he ripped into
29. 1:04bankman Freed's management this is is
30. 1:06just taking money from customers
31. 1:10and using it for your own purpose not
32. 1:12sophisticated at all this is just plain
33. 1:14old embezzlement at its peak fgx had 2.7
34. 1:18million users in the U.S and Superstar
35. 1:21celebrities were promoting the company
36. 1:22you know what
37. 1:25bankman freed was also donating tens of
38. 1:27millions of dollars to political
39. 1:29campaigns including President Biden's
40. 1:312020 White House bid but today's
41. 1:33allegations say that money actually
42. 1:35belonged to customers the White House
43. 1:37saying due to the Hatch Act it could not
44. 1:39answer questions of whether or not the
45. 1:41president would return the donations in
46. 1:43and all of this dirty money was used in
47. 1:45service of bankman Freed's desire to buy
48. 1:48bipartisan influence and impact the
49. 1:51direction of public policy in Washington
50. 1:54in a statement today his lawyer said Mr
51. 1:57bankman freed is reviewing the charges
52. 1:59with his legal team and considering all
53. 2:01of his legal options
54. 2:03we messed up big before his arrest
55. 2:05banquetfried took part in a world when
56. 2:07media tour defending himself there are
57. 2:10things I would give anything to be able
58. 2:12to do over again
59. 2:14um I didn't ever try to commit fraud on
60. 2:17anyone Kate Rooney joins me now Kate
61. 2:19Beckman free did you noted was arrested
62. 2:21in the Bahamas what happens next
63. 2:24so Lester the United States has asked
64. 2:26for extradition to New York but bankman
65. 2:28Free's legal team plans to fight the
66. 2:30request his application for bail has
67. 2:33been denied and he'll remain in a
68. 2:35Bahamian jail his next court appearance
69. 2:37for arguments over extradition is
70. 2:39scheduled for February 8th
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