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I think Sam Trabucco of FTX is going to be like Lou Pai of Enron. If you resign at exactly the right time and put some distance between you and the fraud, you can get away with it and ride off into the sunset. https://www.npr.org/templates/story/story.php?storyId=541142...

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Nice comparison. Trabucco resigned in August but Caroline was on record saying he hadn’t been around for months. Some Alameda loans were called in May, and that is when SBF and Caroline did some obviously shady stuff. I think that is when he walked, as that is when the trading strategy became limited to just propping up FTT to fake the balance sheet. He seemed like a legit trader based on his Twitter. It takes about $3 million in legal bills to defend against the feds, and he easily has that kind of money. He is going to be hard to prosecute.

He made several stupid claims on his twitter about trading that anyone in the industry would immediately infer was a complete misunderstanding of the basics of finance. As did SBF and Caroline. Nothing about them was smart. It was a lot of jargon thrown into their talk that should tickle most people’s spidey senses.

Exactly this. All of their "What happened?" threads were hot air, sprinkled with some instances of "ev+" that cryptotwitter quant wannabes latched on to.

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