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'Rich Dad Poor Dad' Author Claims These Two Famous Investors Were Wildly Misled By FTX's Bankman-Fried: 'Are We A Ship Of Fools?'

Published 29/10/2023, 15:17
© Reuters. 'Rich Dad Poor Dad' Author Claims These Two Famous Investors Were Wildly Misled By FTX's Bankman-Fried: 'Are We A Ship Of Fools?'

Benzinga - by Bibhu Pattnaik, Benzinga Staff Writer.

On Friday, Robert Kiyosaki, the renowned author of "Rich Dad Poor Dad," shed light on two high-profile investors who, he claims, were misled by FTX's former CEO, Sam Bankman-Fried.

What Happened: Kevin O’Leary, famously known as "Mr. Wonderful" on the TV show "Shark Tank," and Jim Cramer, the host of CNBC’s "Mad Money," were the two investors who were deceived by Bankman-Fried's actions, Kiyosaki said in a post on X.

Furthermore, Kiyosaki drew parallels between Bankman-Fried's actions and those of Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen.

He provocatively asked if Bankman-Fried would attempt to deceive the jury in his ongoing trial in the same manner he believes Powell and Yellen are misleading the global populace.

“Are we a ship of fools, or is it time we wake up, get smart, and say, ‘Our World is in financial trouble because of your incompetence. Keep your hands off our money,'" he added in the post.

Also Read: FTX's Bankman-Fried Under Spotlight As Ether Holdings Show Unusual Activity

In a statement last year, Kiyosaki had compared Bankman-Fried and the infamous Bernie Madoff, suggesting a similarity in their alleged deceptive practices. This criticism starkly contrasted with O’Leary and Cramer's earlier praises of Bankman-Fried, whom they had likened to esteemed investor Warren Buffett, according to Kiyosaki.

Bankman-Fried has admitted to certain lapses, especially in risk management, but firmly denies any intentional wrongdoing.

He is facing accusations of misusing over $100 million of customer funds for personal and political endeavors. A conviction could result in a significant prison sentence.

Now Read: Sam Bankman-Fried Denies Defrauding Investors: 'We Thought We Could Build The Best Product On The Market'

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Photo: Gage Skidmore via flickr

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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