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December 17, 2022
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Fraud, cons and Ponzi schemes: did Sam Bankman-Fried use Madoff tactics?

Source: theguardian.com theguardian.com
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At first glance, Sam Bankman-Fried bears little resemblance to Bernie Madoff. One is a smartly-suited, grey-haired financial titan with a 40-year career on Wall Street, and the other a 30-year-old millennial king of crypto in shorts and T-shirt. But almost 14 years to the day since Madoff was arrested and charged with fraud in New York for orchestrating a long-running pyramid scheme, the FTX crypto scandal is being compared to Madoff’s criminal enterprise. Diana Henriques, a financial historian and the author of The Wizard of Lies, a book delving into Madoff’s $64bn (£53bn) scheme, says the similarities between Bankman-Fried –...
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