Response to JonDoe's Post

Read his original post here:
https://steemit.com/@jondoe

TLDR: He claims that Sam did not commit fraud but instead merely made poor business decisions.

I'm going to prove that Sam very much did commit fraud, and his actions were to the detriment of the cryptocurrency space as a whole. It is simply ludicrous to suggest that his actions were anything but evil, he stole 10 BILLION USD.

Let me first provide a brief breakdown of the situation: Alameda lost money, Sam used FTX customer funds to prevent the collapse of his fund. This is a vast oversimplification of course, he not only embezzled deposits to fund Alameda, but he also used customer funds for personal use, as he gave himself a 1B personal loan. That doesn't sound altruistic at all to me.

It was a conscious decision by Sam to speculate with customer funds. Period. You don't gamble with other people's money. You don't buy a mansion with customer deposits. You simply do not do such a thing. Utterly ridiculous to defend him for literally stealing money from customers, many of which who have lost their livelihood from his actions.

You cannot use customer funds for anything. You shouldn't stake them, vote using them, but the greatest sin of all is spending them. That 10B hole in their balance sheet didn't come from nowhere. Sam chose to use that money for his personal gain, and he lost it. His actions were nothing less than despicable.