- Sam Bankman-Fried followed the fan page of highly notorious scammer Bernie Madoff.
- Madoff operated the largest Ponzi scheme in history, totaling $64.8 billion.
- SBF may possibly serve 155 years in jail if he pleads guilty to all charges.
Market-wise, it would appear as if the crypto space has moved on from Sam Bankman-Fried (SBF) and the FTX collapse. But in reality, nothing could be further from the truth. Every little activity he does is being monitored, and yes, that goes for every likes and interaction he makes.
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Recently, popular stocks and crypto trader and uINVST founder Gurgavin Chandhoke reported that SBF has followed a Twitter account of Bernie Madoff fans.
This was also confirmed by the same Twitter account seen above. CNL also took a screenshot in case SBF unfollows the fan page.
Who Was Bernie Madoff?
For those who are not aware, Bernard Lawrence Madoff, addressed more often as Bernie, was known globally as the mastermind of the largest Ponzi scheme known. He operated in the mainstream financial markets with an alleged AI-based investment strategy called split-strike conversion.
In 2008, when the world suffered a global phenomenon billed the “Great Recession,” this became unmasked as a massive Ponzi scheme. Later on, it was found out that Madoff scammed people for up to $48.6 billion — the largest in history so far.
Madoff pleaded guilty to 11 criminal charges and died while in prison in 2021.
Madoff Gave America Its Much-Needed Villain
On SBF’s defense, the fanbase is not necessarily glorifying Madoff’s misdeeds. In fact, the fan page is aimed directly at attacking another entity; one that many in the crypto industry also loathe. And it’s none other than the US Securities and Exchange Commission (SEC).
According to an open letter, Madoff helped expose the SEC as a corrupt agency, as well as other US regulators.
“And it wasn’t just the SEC, but the entire regulatory morass that you helped expose. Part of the trouble in catching you was that the agencies investigating your Ponzi scheme kept passing the buck. The SEC pawned off responsibility to FINRA.”
Meanwhile, SBF’s legal troubles have increased with the addition of four more bank fraud charges. If he pleads guilty to all charges, he will be facing up to 155 years in jail — even longer than Madoff would have served if he lived to see his last day in jail.
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