{"id":15142,"date":"2022-12-05T02:08:11","date_gmt":"2022-12-05T02:08:11","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/jim-cramer-calls-ftx-co-founder-sam-bankman-fried-a-pathological-liar-conman-and-clueless-idiot-featured-bitcoin-news\/"},"modified":"2022-12-05T02:08:11","modified_gmt":"2022-12-05T02:08:11","slug":"jim-cramer-calls-ftx-co-founder-sam-bankman-fried-a-pathological-liar-conman-and-clueless-idiot-featured-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/jim-cramer-calls-ftx-co-founder-sam-bankman-fried-a-pathological-liar-conman-and-clueless-idiot-featured-bitcoin-news\/","title":{"rendered":"Jim Cramer Calls FTX Co-Founder Sam Bankman-Fried a Pathological Liar, Conman, and Clueless Idiot \u2013 Featured Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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The host of Mad Money, Jim Cramer, says former FTX CEO Sam Bankman-Fried (SBF) is a pathological liar and a conman. \u201cThat guy is a clueless idiot. Intent means nothing. Saying sorry means nothing,\u201d Cramer stressed. <\/strong><\/p>\n

Jim Cramer on Sam Bankman-Fried and FTX Collapse<\/h2>\n

The host of CNBC\u2019s Mad Money show, Jim Cramer, shared his thoughts about the collapse of crypto exchange FTX and its co-founder and former CEO Sam Bankman-Fried (SBF) in a couple of interviews on CNBC Thursday. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website.<\/p>\n

Commenting on Bankman-Fried\u2019s claim during an interview<\/a> at the New York Times Dealbook Summit that he \u201cdidn\u2019t try to commit fraud on anyone,\u201d Cramer said:<\/p>\n

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That guy is a clueless idiot. Intent means nothing. Saying sorry means nothing. If you commingle, if you had no record keeping, those are against the law.<\/p>\n<\/blockquote>\n

\u201cYou were sloppy, you didn\u2019t keep records \u2014illegal \u2014 alright, so if you\u2019re admitting to illegality, even though you think that you had no intent, the U.S. attorney does not care one wit about intent, but what the U.S. attorney cares about is: did you break the law,\u201d Cramer stressed.<\/p>\n

\u201cBeing a nice guy, which he clearly is, is irrelevant \u2026 It means absolutely nothing. Some of the nicest people I know have spent some serious time in jail,\u201d the Mad Money host shared.<\/p>\n

Referring to Bankman-Fried, Cramer emphasized:<\/p>\n

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He\u2019s a pathological liar. He\u2019s a conman.<\/p>\n<\/blockquote>\n

\u201cHe admitted to commingling accounts that shouldn\u2019t be commingled but then he says, \u2018it doesn\u2019t really matter I feel bad,’\u201d the Mad Money host continued, adding: \u201cThen again it doesn\u2019t matter if he\u2019s a pathological liar or the most honest man in America. The fact is he broke the law.\u201d Cramer noted: \u201cIf you commingle funds \u2026 you probably go to jail for that so don\u2019t commingle.\u201d<\/p>\n

In a different interview on CBNC Thursday, Cramer opined: \u201cI think Sam whatever \u2014 I don\u2019t even want to dignify his full name anymore \u2014 is just a con artist.\u201d The Mad Money host elaborated:<\/p>\n

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The con artist was just wild, he\u2019s fabulous. Commingled, stole, but he was sorry.<\/p>\n<\/blockquote>\n

\u201cStealers never say you\u2019re sorry. I don\u2019t care about \u2018alleged\u2019 anymore. I\u2019m dropping the whole \u2018alleged\u2019 nonsense. I\u2019m not being a journalist anymore when it comes to that guy,\u201d Cramer concluded.<\/p>\n

FTX filed for Chapter 11 bankruptcy on Nov. 11 and Bankman-Fried stepped down as the CEO. An estimated one million customers and investors lost billions of dollars from the exchange collapse. The company is now being investigated for mishandling customer funds<\/a>. FTX\u2019s new CEO, John Ray, told<\/a> the bankruptcy court: \u201cNever in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.\u201d<\/p>\n

What do you think about the comments by Mad Money\u2019s Jim Cramer? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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