Sam Bankman-Fried Media Apology Tour Is Scam

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  • Sam Bankman-Fried has been on a media apology tour following the collapse of his crypto business.
  • Convicted con artist Anna Sorokin (AKA Anna Delvey) thinks “he’s just trying to save himself”.
  • “It’s a Ponzi scheme, which he did,” she told Insider.

Convicted con artist Anna Sorokin thinks Sam Bankman-Fried’s media apology tour is insincere nonsense, she told Insider, believing he’s trying to lay the groundwork for a legal defense over his role in FTX’s collapse and billion-dollar evaporation.

“He’s just trying to save himself,” she told Insider on Thursday. “That would be his defense if he’s going to be prosecuted: ‘I didn’t know Alameda had too much leverage’ – which is a crazy claim – that it’s the girlfriend’s fault. You can already see the seeds of that.”

Sorokin himself was convicted in 2019 of defrauding banks and hotels out of approximately $200,000 — a story later adapted into Netflix’s “Inventing Anna” limited series. Under the false name “Anna Delvey”, she presented herself as a wealthy heiress and tried to get money to build a project called the Anna Delvey Foundation.

Bankman-Fried is also battling allegations of fraud – on a much larger scale.

His crypto exchange company FTX collapsed in November after reports that it appeared to be mixing funds with Alameda Research, a separate investment firm he owned and run by Caroline Ellison, who he said was also a former romantic partner. Multiple federal agencies are reviewing his actions, which could lead to civil enforcement or criminal charges.

Bankman-Fried has since gone on a media apology tour, claiming he believes he could have avoided FTX’s troubles if he had only focused more on risk management and could have saved the stock from collapse if he had more time had to find investors. He has said he gave media interviews against the advice of his lawyers.

Other FTX executives did not seem to share his optimism. A top lawyer for the company during the collapse said Bankman-Fried’s plan to save the stock market by supporting more investment had a “0% chance of success,” the New York Times reported. Days later, John Jay Ray III, the corporate turnaround executive who took over as CEO of FTX after Bankman-Fried stepped down, was dismayed at the state of the company.

“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of reliable financial information as here,” Ray wrote in the company’s bankruptcy filing.

Sorokin believes Bankman-Fried’s pleas to the media are disingenuous.

“It’s a Ponzi scheme, which he did,” she told Insider.

‘He’s just looking for pity’

Through his media interviews, Bankman-Fried is trying to cultivate a more innocent image with the public, Sorokin speculated. She’s not buying it.

“If he were a woman, he would either be portrayed as a total con artist, or wholly inadequate and unfit, or both at the same time,” she said. “Now he gets to play this bumbling, non-threatening, seemingly well-meaning serious dude trying to make amends by the customers.”

She believes that Bankman-Fried never expected to find himself in the situation he is in now, and that he would have continued his alleged plan if Changpeng Zhao, Binance’s CEO and co-founder, “developed the crypto version of a” bank run” on FTX.

“He never expected it to explode like that,” she said. “That’s only because of CZ.”

Sorokin is also skeptical of Bankman-Fried’s claim that he only has $100,000 left. She doesn’t believe it would be enough to cover his normal expenses, let alone make sense to someone who has poured millions into political interest groups.

“I don’t believe he only had crypto. It’s not that widely accepted to be able to get one through normal living costs. He’s just looking for pity,” she said. “I’m sure all PACs accepted fiat, not crypto. He couldn’t just live entirely off company funds.”

Neither Bankman-Fried nor his lawyers immediately responded to Insider’s request for comment.

Sam Bankman Fried

Sam Bankman Fried.

to Williams/CQ-Roll Call Inc via Getty Images



Sorokin completed her time in prison in 2021 and has repaid all the banks and other institutions she took from the money she received from Netflix, but she is still appealing her criminal conviction. At her trial, her attorney argued that her actions should be construed as civil rather than criminal litigation. She might be in over her head, the lawyer argued, but she always intended to pay back every penny.

She is currently living under house arrest in midtown Manhattan as she appeals a possible deportation back to Germany.

Like Bankman-Fried, she has maintained that her original plans were sincere and legitimate. The main reason the Anna Delvey Foundation failed, her lawyer argued at trial, was because she lacked the management skills — not because she was trying to steal.

However, the difference between their situations is in the billions of dollars. Sorokin acknowledged that Bankman-Fried’s story that he blindsided, rather than deliberately preyed on FTX’s clients, may be legitimate. But it doesn’t reassure her.

“I don’t know which is worse – that he wasn’t actually in control, or that he’s trying to cover it up now. It’s fucking scary if he was so negligent.”

The Valley Voice
The Valley Voicehttp://thevalleyvoice.org
Christopher Brito is a social media producer and trending writer for The Valley Voice, with a focus on sports and stories related to race and culture.

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