Financial Crimes

Sam Bankman-Fried, known as “SBF,” rose from obscure trader to cryptocurrency billionaire in just three years, building FTX into the world’s second-largest crypto exchange valued at $32 billion. Behind the scenes, he was secretly funneling billions of dollars in customer deposits to his hedge fund Alameda Research to cover massive trading losses, make risky investments, buy luxury real estate, and donate to political campaigns.

Bernard “Bernie” Madoff orchestrated the largest Ponzi scheme in history, defrauding thousands of investors out of an estimated $65 billion over decades. Once a respected Wall Street figure and former Nasdaq chairman, Madoff’s wealth management firm promised consistent high returns but paid early investors with funds from new ones. The scheme collapsed in December 2008 amid the financial crisis. Madoff was arrested, pleaded guilty to 11 federal felonies in 2009, and was sentenced to 150 years in prison. He died in custody in 2021. Remarkably, as of 2025, victims have recovered approximately 94% of their verified losses through unprecedented restitution efforts.