Galaxy Digital CEO Mike Novogratz has questioned why Sam Bankman-Fried is a free man, despite the massive fraud committed by FTX under his watch as CEO. Novogratz ‘s company has accepted that his firm might not get back the $77 million it had invested in the cryptocurrency exchange, FTX. However; he, politicians, crypto enthusiasts and other investors are reportedly wondering how SBF is free and is still “running around the Bahamas, giving press conferences, going on TV.”
On Wednesday, in an interview on Squawk Box on CNBC, Mike Novogratz mentioned an incident four years when young kids broke into his apartment and “stole a couple of laptops.” He said that the NYPD arrested them within three days and “they were in jail.”
"@SBF_FTX certainly did things with our coins that were illegal, and he's running around the Bahamas," says @novogratz. "When you deposit your dollars on his exchange, they're your coins, and lending them to his family office was not part of the deal. That's fraud." pic.twitter.com/QifSH8fKcy— Squawk Box (@SquawkCNBC) November 23, 2022
He added that although he was “not a judge or a lawyer” he had read his contract and Bankman-Fried had done things to their “coins that were illegal.” He also commented that SBF was running around and talking to the press and a statement from him on Tuesday, publicized by Coindesk, saw him trying to explain what went wrong with FTX.
It should be noted that in his statement, SBF did not address the reports that FTX and his parents and some senior employees bought luxury beachfront properties in the Bahamas for $121 million, according to an exclusive report by Reuters; using an FTX Unit.
When asked if SBF might eventually be in custody, the Galaxy Digital CEO said that it could happen. Novogratz said, “That whole thing kind of surprises me. I think his day will come.”
He also expressed his surprise that SBF’s father who is a lawyer, had let his son continue to talk or that anybody was listening to SBF. He also said, “Liars lie, and will continue to lie.”
The FTX collapse has outraged many across the nation. SBF personally donated roughly $38 million to politicians as well as political action committees, before the November midterms, according to reports. Many are demanding that politicians belonging to both the Democratic and Republican parties return the money.
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