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GhostOfFreedom
Georgia Fan
Member since Jan 2021
8765 posts

Alemada Research bought a one-branch bank for $11.5 million and it looks like…..this (FTX)



timdonaghyswhistle
Member since Jul 2018
13802 posts

re: Alemada Research bought a one-branch bank for $11.5 million and it looks like…..this (FTX)
Kim Wexler is working on it.


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290
NC_Tigah
LSU Fan
Carolinas
Member since Sep 2003
114535 posts

re: Alemada Research bought a one-branch bank for $11.5 million and it looks like…..this (FTX)


Go Cougs!


auggie
Auburn Fan
Opelika, Alabama
Member since Aug 2013
24588 posts

re: Alemada Research bought a one-branch bank for $11.5 million and it looks like…..this (FTX)
How often do you find a bank on a gravel road?
It was worth all that money because it's so rare.


SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
399550 posts
 Online 

re: Alemada Research bought a one-branch bank for $11.5 million and it looks like…..this (FTX)
quote:

brazen fraud


Explain

Seems like a great example of how they lost so much money that SBF stole from FTX to prop it up.

Did someone important own that bank or something?


umrebel2009
Ole Miss Fan
Member since Feb 2010
6830 posts

re: Alemada Research bought a one-branch bank for $11.5 million and it looks like…..this (FTX)
Bank / liquor store / pawn shop


BoarEd
USA Fan
The Hills
Member since Oct 2015
38862 posts

re: Alemada Research bought a one-branch bank for $11.5 million and it looks like…..this (FTX)
quote:

SlowFlowPro


It's frickin hilarious to see what this clown has become.


Chief One Word
LSU Fan
Eastern Washington State
Member since Mar 2018
2829 posts
 Online 

re: Alemada Research bought a one-branch bank for $11.5 million and it looks like…..this (FTX)
Is this in Washington State? I see the "Go Cougs" sign on the door and assume there are no Cougs fans beyond that state.


NCIS_76
Alabama Fan
Member since Jan 2021
1849 posts
 Online 

re: Alemada Research bought a one-branch bank for $11.5 million and it looks like…..this (FTX)
quote:

Bank / liquor store / pawn shop


Brothel


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30
NCIS_76
Alabama Fan
Member since Jan 2021
1849 posts
 Online 

re: Alemada Research bought a one-branch bank for $11.5 million and it looks like…..this (FTX)
You wake up every morning hating the world, don’t you?


TD SponsorTD Fan
USA
Member since 2001
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Nado Jenkins83
LSU Fan
Land of the Free
Member since Nov 2012
57701 posts

re: Alemada Research bought a one-branch bank for $11.5 million and it looks like…..this (FTX)
Wonder if they looking to sell that pop up


SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
399550 posts
 Online 

re: Alemada Research bought a one-branch bank for $11.5 million and it looks like…..this (FTX)
quote:

You wake up every morning hating the world, don’t you?

By living in reality?


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228
SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
399550 posts
 Online 

re: Alemada Research bought a one-branch bank for $11.5 million and it looks like…..this (FTX)
quote:

It's frickin hilarious to see what this clown has become


Explain the fraud, please.

Did someone important own that bank? If not, where does fraud come in? Seriously. This just sounds like a dumb investment, of which there were clearly many because the phone lost billions of dollars


BigMob
Georgia Fan
Georgia
Member since Oct 2021
6120 posts
 Online 

re: Alemada Research bought a one-branch bank for $11.5 million and it looks like…..this (FTX)
quote:

Is this in Washington State? I see the "Go Cougs" sign on the door and assume there are no Cougs fans beyond that state.


BYU/Utah ? High school team ?


RogerTheShrubber
LSU Fan
Juneau, AK
Member since Jan 2009
225901 posts

re: Alemada Research bought a one-branch bank for $11.5 million and it looks like…..this (FTX)
Money laundering.

Most professional services participate, some unknowingly.


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90
stout
Arizona Fan
Smoking Crack with Hunter Biden
Member since Sep 2006
158201 posts
 Online 

re: Alemada Research bought a one-branch bank for $11.5 million and it looks like…..this (FTX)
quote:

Explain

Seems like a great example of how they lost so much money that SBF stole from FTX to prop it up.

Did someone important own that bank or something?



If the bank had assets and some nice receivables on loans then $11.5 million might not be that bad. Physical location means jack shite.


thermal9221
New Orleans Saints Fan
Youngsville
Member since Feb 2005
11702 posts

re: Alemada Research bought a one-branch bank for $11.5 million and it looks like…..this (FTX)
quote:

Explain the fraud, please


Yeah, I want to know too.
They bought a bank turned into brazen fraud.
Is there fraud somewhere in there? It’s possible.
The all up in outrage to your question…look at who posted it.


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27
Bard
LSU Fan
Definitely NOT an admin
Member since Oct 2008
46687 posts

re: Alemada Research bought a one-branch bank for $11.5 million and it looks like…..this (FTX)
quote:

Explain

Seems like a great example of how they lost so much money that SBF stole from FTX to prop it up.


My guess would be it's a piss-poor investment (maybe to help a friend?), a method for money laundering or both.

At the very least, the investment raises many questions.


BengalOnTheBay
By The Bay, MS
Member since Aug 2022
1131 posts

re: Alemada Research bought a one-branch bank for $11.5 million and it looks like…..this (FTX)
quote:

I see the "Go Cougs" sign on the door and assume there are no Cougs fans beyond that state.


Pretty serious assumption to think they were talking about a sports team.


fisherscatfan
Kentucky Fan
Indianapolis
Member since Sep 2020
407 posts

re: Alemada Research bought a one-branch bank for $11.5 million and it looks like…..this (FTX)
I spent my career working with community banks. Now most of my clients were much, much larger than that. Most of their branches were bigger than this bank.

However I did have one client that was just 4 million in assets. A guy bought them for the charter. Several years after he bought them, the bank was now over a billion in assets. The new bank became my client because they outgrew the small firm they were using. Now they are over 10 billion in assets and on NASDAQ.

Getting a bank charter is so difficult after the Great Recession. Buying a small bank for the charter became popular. Often paying multiples of 2 to 3 times book value. HOWEVER, regulators have to approve and they want a business plan. They examine against that business plan but regulators are more than happy to get rid of small banks as they see them as a nuisance.

Would love to see the Moonstone bank exams but they are not public information.


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