When it comes to build wealth and passive income, financial education is your best friend. By looking at what happened to FTX “cryptocurrency exchange” fraudster was arrested today in the Bahamas and he has lost the one thing a businessman/businesswoman goes after when building a business and passive income, the ultimate reward is total freedom.

However, when you are risking the very reward we are after then there is an ethical problem and a lack of financial education. Let’s learn from other incidents that can teach us how to become a better businessman/businesswoman. If there is a short cut in life, then that is learning from other people’s mistakes.

FTX founder Sam Bankman-Fried arrested in the Bahamas after U.S. files criminal charges!

• The cofounder and former CEO of bankrupt crypto trading firm FTX was arrested in the Bahamas after the U.S. attorney for the Southern District of New York shared a sealed indictment with the Bahamian government.

• His arrest is the first concrete move by regulators to hold individuals accountable for the multi-billion dollar implosion of FTX last month.

• Sam Bankman-Fried is expected to be extradited to the United States.

FTX founder Sam Bankman-Fried was arrested by Bahamian authorities Monday evening after the United States Attorney for the Southern District of New York shared a sealed indictment with the Bahamian government, setting the stage for extradition and U.S. trial for the onetime crypto billionaire at the heart of the crypto exchange’s collapse.

Before his arrest was announced, Bankman-Fried had been expected to testify virtually before the House Financial Services Committee on Tuesday, but his attorneys told CNBC that he will not testify.

His arrest is the first concrete move by regulators to hold individuals accountable for the multi-billion dollar implosion of FTX last month.

Damian Williams, the U.S. Attorney for the Southern District of New York, said on Twitter that the federal government anticipated moving to “unseal the indictment in the morning.” The New York times reported that the charges include wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, and money laundering, according to the New York Times, citing a person familiar with the matter.

Legal experts told CNBC that if the federal government pursues wire or bank fraud charges, Bankman-Fried could face life in prison without the possibility of supervised release. Such a severe punishment would be unusual but not extraordinary. Ponzi scheme mastermind Bernie Madoff was sentenced to 150 years in prison, an effective life sentence, for his massive ponzi-scheme. FTX’s collapse has already triggered the demise of BlockFi Lending, and has thrown the entire space into disarray.

WHAT TO LEARN FROM THIS?

As a businessman you need to have a team from the start. Sometimes investing in experts it is important aspect to helping you reach your financial goals.

That is why one of the most important elements of the business and investor triangle is the team. In addition, that is why here at MASTER INVESTOR we show others that investing is a team sport.

Knowing how to communicate to people that are smarter than you, it is an unfair advantage when it comes to building a sound investment that produces cash flow aka passive income.

You want to be comfortable by being uncomfortable. Putting yourself in rooms with people that will make you grow will help you become a better businessman. Listening is important to your success with money and applying the knowledge you learned into your life will make all the difference.

Regarding the FTX scammed and its infamous leader, we can see a lack of real financial education from him and its team. Also, the victims are the perfect example of two types of people: #1 the people who lacks financial education, therefore, they feel that they have to give their money away to someone else to be gamble for them because they don’t know what to do with it #2 those who were real investors and yet blindly gave money to this scammed were simply lazy investors who broke the rule #1 of MASTER INVESTOR’s Company which is: we work to build passive income and make money work hard for us through our own companies.

I encourage you to read our ebook to learn how to build wealth legally and ethically: The 10 New Rules Of Money. You can find it on amazon or get it from website directly which is even better because you will gain additional VIP benefits through website. Knowledge is the new money, and it does not take money to create passive income. Many people who lacks financial education beliefs that it takes money to make money but it does not, it takes knowledge because today money is created with debt.

Lucrative resources and tools:

Follow us on Instagram.

Listen to our Podcast.

Subscribe to our Newsletter.

Follow us on Tiktok.

Purchase a business digital Course.

Like our Facebook Page.

Join our Inner Circle.

You are reading: Why financial education will be prevent you from getting scammed in investing? AVOID FTX

Comment, like, share and follow for more High Quality Financial Education Made Simple.