We got breaking news today. We’ve got Sam Bankman-Fried entering a plea in the tax fraud case. When we see a plea deal? Will we see him plead guilty, try to get off some other charges? Well, that’s not all we’re going to be talking about today. We’re going to be talking about more about this epic fraud and how it affects you.
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0:00 Intro
0:42 SBF Plea Deal
3:52 North Dimension
6:59 Moonstone Bank
9:41 Conclusion
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All right guys we got breaking news Today we've got Sam bankman free Entering a plea in the FTX fraud case Where we see a plea deal when we see him Plead guilty to try to get off some Other charges well that's not all we're Going to be talking about today we're Going to be talking about more about This epic fraud and how it affects you Let's get it Welcome to Bible crypto my name is Ben Today we're going to be taking a look at Sam bankman freed but we're going to be Taking a look at a conspiracy that's not Really conspiracy involving North Dimension you're going to find out what That means here in just a little bit We're also going to be taking a look at Silvergate bank's involvement in this Very sketchy stuff so let's start here First we got Sam Bateman free to enter Plea deal and FTX fraud case uh same Payment freed is expected to enter a Plea deal in the next week to criminal Charges he defrauded investors and Eluded billions of dollars in customer Funds we all know what he's doing what He did is January 3rd 2023 be on the Lookout for that also guys if you like These flashy whiteboard videos I'm sure Enjoying them make sure to check out d10 We got a link down below for these Digital whiteboards they're really sweet They sponsored us and they actually gave
Us these white boards we love them we Think you'll love them too all right so Let's check out this video clip right Here from Fox Business welcome back new Details on the Fallout of cryptocurrency Exchange range FTX officials suggesting That former CEO Sam bankman freed SBF Transferred assets to the Bahamas Government for a protection after filing For bankruptcy and may have done so at Their request the Bohemian government Joining me right now is criminal defense Attorney and Northwestern adjunct law Professor Andrew Stoltman Andrew walk us Through this case what criminal charges Could bankman freed face if guilty and Why transfer those assets to the Bahamas Government well I don't think there's Any question we are going to see Criminal fraud charges specifically wire Fraud charges SBF violated the most Sacrosanct rule in the Securities Industry he co-mingled client funds and Worse yet the new account agreement with Customers says he wouldn't do that it's Very clear he has violated the law this Guy's going to jail for a long time now I've been hearing rumors of a larger Conspiracy we might get to at some point But for right now we know SPF has nailed On all this stuff no question about it Now if you listen to what they said There they talked about the Bahamian Government we've been telling you that
The Bahamian government is super corrupt They actually had the chairman of their Empower party made a press conference About me saying that I'm racist because I said the Bahamian government is Corrupt we love the Bahamian people but This government is corrupt it's all get Out you just heard they were moving Assets around and moving assets around Is something they did quite frequently As you can see here check this out Sam Beekman freed borrowed 546 million Dollars from his hedge fund Alameda to Buy a Robin Hood steak now we know that He also tried to sell this Robin Hood Stake behind closed doors we know this Via leaked text messages so that begs The question where are these Robin Hood Shares well they're in a separate LLC From the bankruptcy so I want you guys Keep track here we've got 300 million to One billion dollars worth of real estate In the Bahamas that we personally crypto Have filed a lawsuit against and we're Trying to get those assets back in FTX Users hands because they were embezzled Funds number two you've got 546 million Dollars in another LLC that's not in This bankruptcy number three we know John Ray the bankruptcy lawyer of FTX Well guess what he has actually Discovered an extra billion dollars Floating around if you're keeping score That's potentially 2.5 billion dollars
Is this really an insolvency hole or is This a case of hidden money that's the Question we'll have to get to so let's Check this out here you have this little Known firm with a weird website was Central to the misappropriation of FTX Customers this is called North Dimension Among the 130 or so company is the same Name and freed sprawling crypto Empire North Dimension Inc assumed a low Profile unlike FTX its name wasn't Splashed on billboards or sporting Arenas and its business wasn't promoted By celebrities here's the website I Don't know if you can see it's hosted on Squarespace let's check out what a great Website this is let's see they've got a Home page we're on the homepage let's Check out the about page about us and it Goes right back to the home page so this Is the only thing it says on the website Services nor Dimension Inc is a Financial services company we bring Decades of experience from Wall Street In Silicon Valley to provide mature and Stable fund management just like FTX Liquidity and payment processing Services we bring sophistication we have All come to expect from the mainstream Financial institutions and the realm of Cryptocurrencies now I want to show you That to show you what a joke of a Website this is Let's go back to the article here North
Dimension had a crucial role in the FTX Maths North Dimension was where FTX Customers were told to wire money if They wanted to trade on its exchange According to a complaint filed Wednesday By the Securities and Exchange Commission but North Dimension Inc also Appears to have been a fake online Electronic retailer it's a shell company That's what it is and who is famous for Shell companies That's right none other than our friend Dan freeberg The General Counsel this is The guy that basically is responsible For the whole entire thing he's the Architect he built all this he built all These shell companies he allowed Gary Wong to build back into Alameda into FDX He is from the ultimate back Scandal the Biggest poker scam in all time 40 Million dollars they rigged it to where They could see the cards so he also had A big role in this as well as as well as Moonstone Bank we'll look at in a second The SEC complained against former Alameda CEO Caroline Ellison and former FTX co-founder Gary Wong said money Wired to North Dimension by FTX clients For their own use wound up funding Alameda's trading activities and bankman Freed's other Ventures instead began for You to directed FTX to have customer Send funds think about this SBF directed FTX to send customer funds to North
Dimension in an effort to hide the fact That the funds were being sent to an Account controlled by Almeida the Lengths that they went to to hide these Customer funds to say this is Criminal Is understatement of the year so let's Move on here we've got this fdi's Customer sending money North Dimension Likely wired it through silvergate bank The San Diego institution is one of the Largest providing Financial Services to The crypto industry and let me tell you The more we find out about silvergate The more disgusting it gets and they Turned me down for an account so there You go north Dimension Inc held two bank Accounts at silvergate but that's not The only Bank involved in this guys a Tiny Bank in Washington they're crypto Entanglements add to the FTX mystery As reported by payments one of the more Surprising assets to come to light During ftx's bankruptcy is a small Ownership stake through Alameda research The sister trading R of FTX and a tiny 135 year old bank with three employees And a single branch in rural Washington State that was pre-acquisition once Called Farmington State Bank and if you Guys like how we dig into all this and We give you guys more information the Other channels are doing make sure to Hit that like button and go and Subscribe to the channel we're gonna be
Bringing you guys a lot more of these Videos now the bank goes by the moniker Moonstone Bank it conducts businessmen To usher in the new era of Technology Banking it's Far Cry from its historical Focus on agricultural loans company Called fbh Corporation acquired Farmington State Bank and began to Embrace an Innovative startup business Model with a goal to serve new customers Such as digital assets and hemp cannabis The more we dig into this hemp cannabis The more you're going to see how Shadow Banking between the Cannabis industry And the crypto industry have merged in January worry Alameda invested 11.5 Million for a non-controlling minority Interest this investment was more than Double the Banks worth of 5.7 million Dollars the banks were 5.7 million Dollars they put in 11.5 million for a Non-controlling stake I want you to think about that for a Second the math doesn't add up the name Changed to Moonstone after Alameda they Couldn't hide anything they're so stupid Moons fbh is in turn owned by French National Jean shalopin now why is he Maybe ringing a bell he's better known As the creator of Inspector Gadget how hilarious Shelby Has since left cartoons behind and Turned his attention to the banking World moving to the Bahamas where he
Became the largest shareholder and Chairman of Dell tech bank that's right The FTX partner the tether partner every Shady company in the history of crypto Pretty much under his new ownership Moonstone quickly applied and was Approved to become a member of the Federal Reserve of San Francisco What a deep tale we weave here summer of 2021 a year after changing hands Chopin's other bank the one that Bob is Del Tech is the main partner for the Widely used stablecoin tether Alameda Accounted for a third of all tether Minting was one of the company's largest Trading partners the most pressing Relationships to be seen in this is Whether ftx's creditors will be able to Claw back the 11.5 million ownership Stake in Moonstone and what that Clawback might mean for the future of The fledgling Reserve Bank member very Interesting here when you break this Down What do we have here A cluster F that's what they call it That's what the kids call it these days And I'll tell you this the more this Scandal goes the more we start to Realize where the money is we have to Call back the money and we have to fight The people who are hiding this and that Also includes yes Moonstone Bank Includes silvergate includes Dell tech
Yes probably includes a Federal Reserve Probably includes the SEC We're pulling at the yarn it's a lot to Unravel we're not going to stop until we Get to the middle that's all we got be Blessed good boy out Thank you
