Scaramucci changes tone on FTX, says it's clear there was fraud now

by Adam Morgan McCarthy and Frank Chaparro

Quick Take

“It’s very clear now that there was fraud,” Anthony Scaramucci said.
The one-time White House communications director had previously been hesitant to label the collapse as fraud.

Anthony Scaramucci has done a 180 on FTX.

"It's very clear now that there was fraud," the SkyBridge Capital founder told CNBC. "We'll, of course, have to let the legal system determine all of those things."

Scaramucci had been hesitant to proclaim fraud in the immediate aftermath of the collapse of the crypto exchange last year, telling CNBC TV at the time that he didn't want to use the word "because that's actually a legal term." Scaramucci told The Block that the guilty pleas last month of FTX co-founder Gary Wang and former Alameda Research co-CEO Caroline Ellison changed his mind.

Bankman-Fried's FTX Ventures took a 30% stake in SkyBridge Capital in September, with the partnership born out of Scaramucci's involvement with the SALT conference, Bankman-Fried said at the time. The SkyBridge founder has reiterated the fund's intention to buy back the FTX stake this year.

“We’re waiting for the clearance from the bankruptcy people, the lawyers, and the investment bankers to figure out exactly what we’re going to be buying back and when,” he said.

Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.