Scaramucci’s Grim Outlook on Testimony

FTX founder Sam Bankman-Fried started testimony in his personal fraud trial on Thursday, defending himself from accusations of deliberately defrauding his trade’s prospects.

Previous to taking the stand, SkyBridge Capital founder Anthony Scaramucci mentioned that the previous crypto mogul’s odds towards authorities prosecutors are bleak.

“He’s gonna get skinned alive;” mentioned Scaramucci in an interview with CNBC on Thursday. “There’s no technique to escape. He thinks he’s going to outfox the prosecutors, however they’re very, very properly skilled with these items.”

Scaramucci was near Bankman-Fried as a enterprise companion and had an opportunity to see him in particular person through the downfall of his crypto empire in November 2022.

On the time, Scaramucci had noted that the “battle room” was “despondent” and that he may already inform {that a} small group of FTX insiders had executed one thing with out telling most others on the firm.

That former evaluation has now been corroborated with intensive testimony from Bankman-Fried’s internal circle all through the trial, all of whom declare to have participated within the fraud led by their boss.

Regardless of former constructive reservations concerning the defendant, Scaramucci has since labeled Bankman-Fried the “Bernie Madoff” of crypto and mentioned that the “ninth circle of hell” awaits him.

“They’re going to level out all of the contradictions, they usually’re gonna show the felony intent with him on the stand,” Scaramucci continued. “That is solely going so as to add years to his sentence.”

Previous to FTX’s collapse, the trade had purchased a 30% stake in Scaramucci’s funding agency. The founder mentioned in April that the fallout had not harmed his firm so severely as many would anticipate.

To date, Bankman-Fried has argued that his understanding of FTX’s phrases of service would have allowed FTX to mortgage funds to its sister-hedge fund Alameda Analysis. In keeping with CNN, the trade founder nervously fidgeted and sipped water ceaselessly throughout his Thursday examination.

Scaramucci on SBF’s Character

Scaramucci additionally commented on Michael Lewis’s new ebook about Bankman-Fried, which crypto trade pundits thought handled the founder extremely charitably.

“He tries to be goal within the ebook, however solely form of,” Scaramucci mentioned. “On the finish of the day, Michael by no means would have written the ebook if he thought Sam was a supreme felon that many people really feel.”

Scaramucci maintains that he couldn’t really feel Bankman-Fried’s “vanity” one 12 months in the past, and mentioned he’s “embarrassed” to have launched him to a number of heads of state.