Gregory Coleman, the retired FBI special agent who helped seize the assets of Bernie Madoff and also brought down the so-called “Wolf of Wall Street,” thinks the case against Sam Bankman-Fried, the disgraced former CEO of crypto exchange FTX, is actually quite simple.
The best strategy for prosecuting Bankman-Fried is to view it as a trading situation that went bad, Coleman said. Alameda Research, the quantitative crypto trading firm, was likely not making money for a long time, and they probably moved assets from FTX to cover the bets, Coleman said. Bankman-Fried probably “got into a deep hole trading in Alameda. Whoever was doing the trading wasn’t a very good trader,” said Coleman, who emphasized that Bankman-Fried is innocent until proven guilty.
