Billionaire investor Bill Ackman is walking back on comments seemingly defending SBF - says 'nothing could be further from the truth'




bill ackman
bill ackman  
  • Bankman-Fried said at NYT's DealBook Summit he had "made a lot of mistakes." But he denied committing fraud.

  • Bill Ackman said his tweet about FTX founder Bankman-Fried being "believable" was misinterpreted.

  • Ackman later walked back on his tweet saying FTX's blow-up was "the most egregious, large-scale case of business gross negligence."

Billionaire investor Bill Ackman said his comments on disgraced FTX founder Sam Bankman-Fried were misinterpreted.

Ackman was seen to be defending Bankman-Fried after the former FTX CEO denied committing fraud at the New York Times DealBook Summit last Wednesday.

"Clearly I made a lot of mistakes. There are things I would give anything to be able to do over again. I did not ever try to commit fraud on anyone," Bankman-Fried told Andrew Ross Sorkin. He also said he didn't "knowingly commingle" funds between the FTX exchange and Alameda, its affiliated trading firm.

"Call me crazy, but I think @sbf is telling the truth," Ackman, the founder and CEO of hedge fund Pershing Square Capital Management, tweeted Wednesday.

But Ackman - whose net worth is around $3.5 billion, per Forbes - walked back on his comments on Saturday, saying he wasn't defending or "somehow supporting" Bankman-Fried. "Nothing could be further from the truth," tweeted Ackman.

FTX filed for bankruptcy on November 11 and Bankman-Fried resigned as CEO on the same day after it was caught in an intense liquidity crunch for a week. The stunning collapse caught investors by surprise and Bankman-Fried has been on a media apology tour since.

The US Securities and Exchange Commission and the Department of Justice are investigating FTX's collapse. Bankman-Fried was also reportedly interviewed by the Bahamian police on November 12.

"The @FTX_Official fiasco is, at a minimum, the most egregious, large-scale case of business gross negligence that I have observed in my career, and that conclusion is reinforced by SBF's recent public statements," Ackman added in the thread.

But "if indeed he is telling the truth, it may make it more likely that he has civil rather than criminal liability," tweeted Ackman on Saturday.

Ackman did not immediately respond to a request from Insider for further comment that was sent to Pershing Square outside regular business hours.

COMMENTS

More Related News

FTX gets court approval to subpoena founder Bankman-Fried, other insiders
FTX gets court approval to subpoena founder Bankman-Fried, other insiders
  • US
  • 2023-02-08 20:59:52Z

Failed crypto firm FTX received court approval on Wednesday to issue subpoenas to its founder Sam Bankman-Fried and members of his family as part of the...

FTX founder heads to court after judge rejects bail request
FTX founder heads to court after judge rejects bail request

FTX founder Sam Bankman-Fried will head to a New York courtroom Thursday to face a federal judge who said his effort to contact a likely trial witness...

Judge Rejects Request to Ease Restrictions on Sam Bankman-Fried
Judge Rejects Request to Ease Restrictions on Sam Bankman-Fried's Communications

Use of FaceTime, iMessage, Zoom, texts, and email would be allowed.

How parents allowed their bedridden teenage daughter to die alone in squalor
How parents allowed their bedridden teenage daughter to die alone in squalor
  • US
  • 2023-02-07 15:54:59Z

A man has been found guilty of the manslaughter by gross negligence of his obese teenage daughter who was found dead in "squalor".

FTX judge weighs demand for independent bankruptcy investigation
FTX judge weighs demand for independent bankruptcy investigation
  • US
  • 2023-02-06 11:02:09Z

A U.S. bankruptcy judge at a court hearing in Delaware will consider on Monday whether to greenlight a court-supervised investigation into the collapse of...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments