Against the Rules with Michael Lewis Judging Sam: The Case Against SBF
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Oct 3, 2023 Rebecca Mermelstein, a former prosecutor in the Southern District of New York and now a defense attorney at O'Melveny & Myers, offers a fascinating perspective on Sam Bankman-Fried's high-stakes trial. She dives into the numerous fraud allegations he faces and the daunting implications of a potential life sentence. The discussion highlights the challenges of jury selection amidst public backlash and examines the legal intricacies of financial liabilities, particularly concerning Bankman-Fried's parents. It's a gripping look at the intersection of finance and law.
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FTX's Implosion
- Michael Lewis describes the rapid unraveling of FTX, from a $40 billion valuation to bankruptcy in three days.
- He was incredulous at the panic, with FTX employees fleeing the Bahamas, leaving him with Sam, his family, and a few others.
Shifting Public Opinion
- Public opinion of FTX drastically shifted without much new information.
- The revelation of misplaced funds was enough to destroy trust.
Summary of Charges
- Sam Bankman-Fried faces charges related to defrauding FTX investors, lenders, and customers.
- These involve alleged lies and misrepresentations about the location and use of funds.
