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Salon
Salon
Politics
Amanda Marcotte

Crypto: The white male privilege scam

After the dramatic arrest of former FTX CEO Sam Bankman-Fried in the Bahamas on Monday night, the Department of Justice laid out a series of fraud charges against him for allegedly running a massive cryptocurrency scam. It makes for some dry reading material: Wire fraud, misleading investors, violating campaign finance laws. Less dry, however, are the details of how Bankman-Fried was living on his alleged ill-gotten gains. As Fortune reported last month, the shorts-and-T-shirt enthusiast who claimed he was "not that much of a consumer" resided in a $30 million penthouse in a Bahamian community that offers such amenities as "an 18-hole golf course designed by Ernie Els, a 71-slip mega yacht marina and eleven closed-to-the-public restaurants."

That's pretty sweet for a guy who wanted his fans to believe he didn't take showers and mostly slept in a beanbag at the office.

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