Kevin O'Leary Says SBF Isn't Guilty in FTX, Until He's Tried

Kevin O'Leary Defends SBF: Wait for Trial Before Guilt Judgment

In response to the news of the FTX collapse, 

Kevin O'Leary says he doesn't understand why SBF was declared guilty before being put on trial by the government.

On a talk programme on December 8, Kevin O'Leary of the Shark Tank fame urged for calm over the recent news of the collapse of FTX and its creator. Kevin seemed to be adamant that Sam Bankman-Fried (SBF), the former CEO of FTX, should not be declared guilty before going through the legal and judicial processes in the United States.

Kevin Has a $15 Million Loss

Although he appears to be defending sbf, he actually wants an accurate audit of the company and thorough investigations so that the truth can come out. He even admits that he has lost the entire $15 million that FTX paid him to use as payment for his services as a spokesperson for the now-defunct cryptocurrency exchange.

He was cited as saying, "Total deal was just under $15 million, all in – I put roughly $9.7 million into crypto." when discussing the money he lost as a result of the FTX crash. It's everything at zero, and I believe that's what I lost.

O'Leary added that he owned FTX shares valued over $1 million, but that they were currently worthless because he was applying for bankruptcy protection. O'Leary claimed that the remaining money, which totaled slightly more than $4 million, was devoured by taxes and agent costs.

O'Leary Isn't Shaken by FTX News

The hosts of CNBC's Squawk Box questioned the Canadian investor, popularly known as "Mr. Wonderful," about his failure to sufficiently consider the risks related to investing in and supporting FTX.