Mad Money host Jim Cramer says FTX’s CEO Sam Bankman-Fried (SBF) is a pathological liar and fraudster. “He’s an idiot who doesn’t know anything. Intentions mean nothing. Sorry doesn’t mean anything,” Kramer stressed.
Sam Bankman-Fried and his Jim Cramer remarks on the collapse of his FTX
CNBC Mad His money show host Jim Cramer We shared our thoughts on the collapse of the exchange FTX and its joint venture. Founder and former CEO Sam Bankman-Fried (SBF) gave his CNBC Thursday interview. Cramer is a former hedge fund manager, where he co-founded Thestreet.com, his website for financial news and literacy.
New York Times Dealbook He commented on Bankman-Fried’s allegations in an interview at Summit, Cramer said, “I never tried to commit fraud against anyone.” :
That man is an ignorant idiot. Intention means nothing. Saying sorry doesn’t mean anything. If you mix it up, you are breaking the law if you don’t keep records.
“You were sloppy. I don’t care.You have a wit about intentions, but all a U.S. attorney cares about is whether you broke the law,” emphasized Cramer. One thing has nothing to do with what he clearly is… it makes absolutely no sense.Some of the nicest people I know have done some serious time in prison,” Mad Money said. The host shared.
Referring to Bankman-Fried, Cramer emphasized:
He is a pathological liar. he is a scammer
“He admitted to mixing accounts that shouldn’t have been mixed, but he said, ‘I don’t care if you feel bad,'” Mad said. continued, adding: It doesn’t matter if he’s a pathological liar or if he’s the most honest man in America. In fact he broke the law. ” said Cramer.
In a separate interview with his CBNC on Thursday, Kramer said: Mad Money host explains:
The crooks were just ambitious. he is a wonderful person He mixed and stole, but he was sorry.
“A thief never apologizes to you. I don’t care about ‘suspicions’ anymore.” Remove the whole “suspicious” nonsense. When it comes to that guy, I’m no longer a journalist,” Kramer concluded.
FTX filed for Chapter 11 bankruptcy on his November 11th, and Bankman-Fried resigned as his CEO. An estimated 1 million customers and investors lost billions of dollars due to the exchange’s collapse. The company is currently under investigation for mishandling customer funds. FTX’s new CEO, John Ray, said in bankruptcy court:
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