“The Wolf of Wall Street” Jordan Belfort gave disgraced FTX founder Sam Bankman-fried some advice and roasted sophisticated Wall Street brokers who need their “heads examined” after investing in former crypto CEO Sam Bankman-Fried’s dying empire on Tuesday.
“First of all, he’s [Sam Bankman-Fried] got to shut up. This guy has got diarrhea of the mouth,” he said on “Jesse Watters Primetime.” . “Once he gets to the U.S., he’s in serious pain.”
“That’s what he needs to do,” Belfort said. “Shut up and listen to his lawyers.”
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Bankman-Fried was arrested in the Bahamas on Monday after allegations that he committed fraud and stole from investors.
Belfort told Watters that he invested zero dollars into Bankman-Fried’s defunct crypto exchange company, FTX. But the people who “actually did due diligence” on the Bahamas-based company and still chose to invest were a different story entirely, Belfort said.
“They actually should have their heads examined because if I would have walked into this place and taken one look around, it would have taken me five seconds flat to say there is something amiss here.”
Belfort also responded to reports that Bankman-Fried was concerned about his “vegan diet” ahead of possible prison time.
“He’s facing a really long, tough road and the vegan diet or the lack thereof is the least of his problems,” he said.
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Like Madoff, Bankman-Fried was also arrested by authorities after he was accused of defrauding his investors. Belfort called the arrest “shocking” because the former crypto CEO was about to testify before Congress and “spill his guts.”
“I mean, it’s like stopping a witness in mid-confession,” Belfort said.
Belfort, who was guilty of crimes related to stock-market manipulation and rose to fame after actor Leonardo DiCaprio played him in the movie “The Wolf of Wall Street,” also asked if “there was any pressure put on” Bankman-Fried “by the Biden DOJ.”
“I mean come on, Jesse. The guy is about to testify and say, ‘you got played.’”
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But Belfort explained that FTX’s financial records will reveal the true extent of fraud at the company.
“You have no way of knowing how much fraud someone is committing unless you can look inside their books,” he explained.
Bankman-Fried has also come under fire for living a “lavish” lifestyle in the Bahamas and enjoying a $40 million penthouse before his crypto empire disintegrated. He also famously engaged in a form of investing called “effective altruism” and told the media that he planned on giving most of his wealth away to make the world a better place.
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