“Tom Brady and Others Are Pis*ed” – NASCAR Veteran Believes “Too Many Famous People” Losing “A Lot of Money” Led to Controversial Crypto Boss’ Arrest

Sam Bankman-Fried is the founder of a cryptocurrency trading platform called FTX. Bahamian authorities recently arrested him as loads of evidence piles up against the founder. A NASCAR insider has left his observations surrounding the entire case. He also mentioned how it would have affected celebrity superstars and famous athletes, such as Tom Brady.

Former NASCAR driver Kenny Wallace stated, “I think ole FTX/Sam took too much money from some Celebrity Superstars and their investments. Washington DC or Not. I believe ole Tom Brady and others are pissed. Too many famous people lost A LOT of money.”

Kenny Wallace believes that athletes such as Tom Brady may not have been happy and would have also lost a lot of money themselves over the fall of FTX.

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In a separate tweet, he also said, “Furthermore. In racing, if your sponsor is found to be illegal you have to return your sponsorship money to the government/investors. Most of Sam’s money went to the Democratic Party. Therefore that money “should” be returned to the investors. We will see?“

Why was Sam Bankman-Fried arrested?

FTX was a major global crypto trading company. Even their adverts featured several celebrities and their commercials appeared at popular sporting venues as well. However, just last month the company filed for bankruptcy. Soon after it, the media reported his arrest to have taken place in the Bahamas, after having faced criminal charges by the prosecutors in the United States.

As per reports, Bankman-Fried had discreetly moved approximately $10 billion worth of FTX customer funds into his own trading firm called Alameda Research. Soon after FTX came under a severe liquidity crunch. Soon the US Attorney’s Office started an investigation regarding the moving of funds.

Following the announcement of the company’s bankruptcy, there are estimates that state that the company’s closure has directly affected 1 million plus customers. In a testimony given to the House Committee on Financial Services, by an insolvency expert, USA Today reported, “ranging from gross mismanagement, excessive leverage, failures of internal controls, failures of external checks as a result of audit firm failures, or insufficient board governance.”

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They did not reveal the specific charges against the founder. But as per the Bahamian authorities, they arrested him due to “various Financial Offences against laws of the United States, which are also offenses against laws of the Commonwealth of The Bahamas.”