Sam Bankman-Fried’s ‘convenient’ arrest keeps things ‘under wraps’: Varney

FOX Business host Stuart Varney argues Sam Bankman-Fried testimony would have revealed the true nature of a 30-year-old guy who ran a gigantic Ponzi scheme.

STUART VARNEY: Reuters obtained a copy of what Bankman-Fried would have said in his opening statement if the hearing had taken place. 

The first line said: “I f’ed up.”

He then goes on to blame his lawyers and the new CEO of the now bankrupt FTX. In other words, the loss of $8 billion was not criminal.

The SEC thinks otherwise. They say Bankman-Fried built a house of cards, using customer funds like his own personal piggy bank. He spent lavishly on real estate and made political donations, again with customer funds.

Subscribe to Fox Business!
Watch more Fox Business Video:
Watch Fox Business Network Live:

FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FBN launched in October 2007 and is one of the leading business networks on television, having topped CNBC in Business Day viewers for the second consecutive year in 2018. The network is available in nearly 80 million homes in all markets across the United States. Owned by FOX Corporation, FBN is a unit of FOX News Media and has bureaus in Chicago, Los Angeles, and Washington, D.C.

Follow Fox Business on Facebook:
Follow Fox Business on Twitter:
Follow Fox Business on Instagram:



Leave a Reply

Recent Posts

Trump Supporters: Get Your 2020 'Keep America Great' Shirts Now!

Are you a proud supporter of President Donald Trump?

If so, you’ll want to grab your 2020 re-election shirt now and be the first on your block to show your support for Trump 2020!

These shirts are going fast so click here to check for availability in your area!


More Popular Stuff for Trump Supporters!

MUST SEE: Full Color Trump Presidential Coin (limited!)

Hilarious Pro Trump 'You are Fake News' Tee Shirt!

[Exclusive] Get Your HUGE Trump 2020 Yard or House Flag!