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The Latest S.B.F. Legal Saga

A talmudic reading of FTX C.E.O. John Ray’s latest report.

S.B.F.’s biggest problem continues to emanate from John J. Ray III, the new FTX C.E.O., who has made it his mission to recover as many assets as possible for the bankrupt estate and its forlorn creditors and customers.
S.B.F.’s biggest problem continues to emanate from John J. Ray III, the new FTX C.E.O., who has made it his mission to recover as many assets as possible for the bankrupt estate and its forlorn creditors and customers. Photo: Fatih Aktas/Anadolu Agency via Getty Images
William D. Cohan
July 30, 2023

Are things looking up for Sam Bankman-Fried, or down? That’s the question people on Wall Street are wondering in the wake of several recent events, as his October trial inches closer and closer. On the one hand, as my partner Teddy Schleifer shared the other day, the feds have decided to no longer prosecute S.B.F. for his more than $100 million of allegedly illegal political campaign contributions. S.B.F. caught a lucky break on that one—something to do with the technicality that the authorities in the Bahamas wouldn’t, or didn’t, consent to that charge as part of his original extradition to the United States.