Bloomberg: The Elitist Parents Who Helped SBF Build His Crypto Empire

Original Source: Max Chafkin & Hannah Miller, Bloomberg

Original Translation: Felix & Joy, PANews

In Sam Bankman-Fried's (SBF) household, Larry David, the American comedian, was a family favorite. So when his parents received an email from their son Sam, their excitement was understandable. SBF wrote that his company FTX would air an ad during the 2022 Super Bowl, with David starring in it.

The irritable comedian, known for historically playing a series of skeptics, was essentially a version of David from the HBO show "Curb Your Enthusiasm" in the Neolithic and Elizabethan eras. The video would showcase an invention—a wheel, lightbulb, Walkman, and finally, FTX. David would then proceed to dismiss each invention in succession. The ad would caution viewers that if they didn't invest in cryptocurrency, they would miss out on a historic opportunity to get rich. The tagline was: "Don't be like Larry."

SBF's parents loved it. "Surreal," wrote SBF's mother Barbara Fried. SBF's father, Joseph Bankman, enthusiastically expressed how happy and proud he was. A few days later, employees received additional feedback from Sam's brother Gabe. He asked his father if he could have a role in the ad, mentioning that his father was too modest to make the request himself. In a sense, this request was odd. At the time, Joseph Bankman had no formal role at FTX, nor did Gabe. Gabe ran a nonprofit organization supported by FTX, focused on pandemic prevention.

Soon after, Joseph Bankman appeared on set to shoot David's passionate opposition to the "Declaration of Independence" scene. When told that "the people should have voting rights," David incredulously replied, "Even stupid people?" Joseph Bankman, wearing a powdered wig, shouted, "Yes!" FTX spent about $20 million to produce and air this 60-second ad. Around the same time, Joseph Bankman joined the company as an employee.

Screenshot of the FTX Super Bowl ad featuring Larry David

A source familiar with the ad production noted that, in FTX's topsy-turvy logic, the decision to have the boss's father play a role had a certain significance. Like most interviewed for this story, the source requested anonymity to avoid association with messy bankruptcies, numerous class-action lawsuits, and several criminal cases. To some extent, Joseph Bankman is considered a founder of the company.

Long before their son faced fraud charges, both parents had distinguished careers. Meeting at Stanford University in the 1980s, they taught at the law school for over thirty years, lived on campus, and raised two sons. Joseph Bankman was a tax expert known for his efforts to make U.S. tax law more friendly to low-income citizens. Barbara Fried was an authority on legal ethics, acclaimed in progressive circles.

As the ad aired, critics warned that FTX was attracting uninformed investors with highly risky financial instruments, mostly prohibited in the U.S. When these funds were unknowingly transferred to a hedge fund owned by SBF, the money disappeared. FTX filed for bankruptcy and went bankrupt in November 2022.

Bloomberg Businessweek Cover

Leading the FTX bankruptcy proceedings is John Ray III, who previously oversaw the Enron bankruptcy but describes this case as even worse. The Enron incident refers to the 2001 bankruptcy of Enron Corporation in the United States, one of the world's largest energy, commodities, and services companies. However, on December 2, 2001, Enron filed for bankruptcy protection in the New York Bankruptcy Court due to a financial scandal, making it the second largest bankruptcy case in U.S. history. SBF is accused of using client funds for personal gain, as well as for his family and other insiders, and is seeking to recover some funds. More ominously for SBF, this became a criminal case scheduled to begin on October 2 in New York City. Prosecutors have not charged SBF's parents with any wrongdoing, but have brought charges against SBF, including fraud, money laundering, and bribery, with SBF's net worth estimated at $26 billion at its peak. This case could potentially see SBF spending the rest of his life in prison. However, he has consistently maintained his innocence, attributing the losses to mismanagement rather than criminal activity.

Joseph Bankman and Barbara Fried have avoided much of the scrutiny surrounding FTX, at least in part because they have yet to fully explain their role in helping their son build a vast business and political influence empire. Instead, they have been typically portrayed as bystanders, often tearfully providing emotional support as their son appeared in court frequently. However, their names are almost certain to come up during the trial. The defense team has indicated that their strategy may partly depend on advice SBF has received from lawyers, including his parents.

A spokesperson for the couple, Risa Heller, has declined to make Joseph Bankman and Barbara Fried available for interviews. Risa Heller has previously stated that, aside from being supportive parents, the two have little to do with FTX. According to Risa Heller, Barbara Fried has never worked for the company, and Joseph Bankman's brief tenure has primarily focused on philanthropy. Last year, SBF told The New York Times that his parents had "no involvement in any part of his company."

Former employees and business associates paint a different picture, as legal documents show that Joseph Bankman and Barbara Fried were instrumental in their son's transition from a clumsy startup nerd to a cryptocurrency mogul. The couple reaped huge profits from FTX, netting $26 million in cash and real estate in just 2022. They were regulars at the company's office, boosting morale among employees and being part of internal communications. Their reputation and connections were crucial to FTX's success.

As one of FTX's largest investors, Sequoia Capital (Sequoia Capital), as praised in an article, their child seems to be "born for the role of a cryptocurrency exchange founder and CEO." This article attempts to explain why one of Silicon Valley's most respected venture capital firms chose to provide $150 million to a young man who played video games at an investor pitch event, citing two pieces of evidence to support its case. First, SBF briefly worked at a Wall Street trading firm. Second, his parents are law professors at Stanford University.

In Silicon Valley, no one likes to think of themselves as privileged. Venture capital firms and entrepreneurs who read Ayn Rand's works (Note: Ayn Rand, the famous philosopher of the 20th century known for her philosophy and novels emphasizing individualism, rational self-interest, and laissez-faire capitalism) often get angry at the notion that their decisions are not based on calculated reasoning. However, Silicon Valley's reflexive elitism is so apparent that it goes without saying. The vast majority of investors prefer companies run by white people, whose founders usually come from a small group of elite colleges, while avoiding anyone who deviates from their shallow understanding of what a successful founder should look like, talk like, and act like. Some openly discriminate against entrepreneurs over 30, against entrepreneurs with accents, against anyone who behaves as if they are not yet affluent.

In this extremely privileged world, the most privileged place is Stanford University—birthplace of companies like HP, Sun Microsystems, Cisco, Yahoo, Google, and PayPal. Barbara Fried has a background from Harvard College, Harvard Law School, the U.S. Court of Appeals for the Second Circuit, and Paul, Weiss law firm. In 1987, Barbara Fried arrived at Harvard as a tenured professor and rented a house on campus. A year later, she met Joseph Bankman. Joseph Bankman, a graduate of UC Berkeley and Yale Law School, had been a tax lawyer in Los Angeles before coming to Stanford to teach tax law. After Joseph Bankman received tenure in his second year, Barbara and Joseph (as they were known on campus) publicly acknowledged their relationship. They moved in together, and in 1991, when Barbara Fried's rented house was put up for sale, they bought it.

Bankman and Fried House on the Stanford Campus

SBF grew up in this house, which was also where he was "confined" in the first half of 2023, situated at the end of Cooksey Lane. Valued at $3.6 million, it owes more to Palo Alto's decades-long real estate boom than to any assessment of its luxuries. The house is a rather ordinary gray Craftsman with four bedrooms, three bathrooms, a wide porch, and a swimming pool, set on a large plot of land surrounded by tall trees. Behind the property is the Lou Henry Hoover House, a modernist building that was once home to former President Herbert Hoover and is now the residence of the Stanford University president.

In SBF's childhood, the surroundings were full of young intellectuals—certainly law professors and law students, but also sociologists, engineers, AI researchers, classicists, and social scientists. On Sunday nights, Joseph Bankman would order takeout or make something simple like pasta, and then they would invite 15 guests to the dining room for conversations usually revolving around philosophy and politics. SBF and Gabe, even in their teenage years, would sometimes join the discussions. Joseph Bankman and Barbara Fried were proud and committed philanthropists. The couple, who did not officially marry, as they told friends, found it unfair that same-sex partners could not wed. Paul Brest, former dean of Stanford Law School, said, "They felt it was wrong to take advantage of something not available to others. They were very ethical people."

Joseph Bankman at Stanford Law School in 2021

In his youth, Joseph Bankman had a head of thick, black curly hair, a trait passed down to his son, along with a likable demeanor that his son lacked. The couple sent their child to Crystal Springs Uplands School, a $60,000-a-year prep school filled with Silicon Valley kids. By this time, Joseph Bankman had become one of the nation's foremost experts on U.S. tax policy. He proposed a pilot program for the California government to tax residents on its own. The plan faced strong opposition from tax preparation companies and small-government zealots, making Joseph Bankman a liberal hero with reformist ideals.

For other scholars, Joseph Bankman is a compassionate and understanding mentor. Rutgers University Professor Jay Soled recalls a scene where Joseph Bankman comforted him after a failed presentation. "That's just who Joseph is," he said. "There will be a next time, and you will only improve." In 2009, Joseph Bankman continued to teach full courses while entering medical school to become a clinical psychologist. After completing his internship, he began working part-time as a cognitive behavioral therapist, while teaching an elective course developed with Barbara Fried to help law students manage anxiety.

Barbara Fried is an intellectual sharper than her husband, and although she is popular on campus for helping students control anxiety, she is also known for inducing student anxiety. Her academic research focuses on a branch of ethics called consequentialism, where the outcome of an action is considered more important than abstract notions of right and wrong. These ideas have turned into somewhat of a family creed. The idea is to do good for as many people as possible, but to summarize it in a less charitable way, it is "the end justifies the means."

Barbara Fried

Barbara Fried is most famous for her paper focusing on the "trolley problem," a well-known thought experiment involving a train destined for tragedy. It is primarily used by philosophers to debate moral choices: should you divert the train to kill a group of people on one set of tracks to save those on the main track, or do nothing and let the main group die? Barbara Fried's paper argues that the problem is nonsensical and obscures the moral choices policymakers face in real life — such as how much aid to provide to the poor or how much healthcare to offer the uninsured. "There are tens of thousands of pages on this stuff," said Paul Brest, former dean of Stanford Law School. "My sense is that after solving the trolley problem, there's not much left for Barbara Fried to say."

SBF has placed his mother's self-righteousness at the center of FTX marketing. His company may be officially engaged in selling cryptocurrency, but that's just one way to generate income for his life-saving mission. In an advertising campaign featured in top fashion magazines, SBF and Brazilian supermodel Gisele Bündchen starred in an ad quoting the FTX founder as saying, "I engage in cryptocurrency because I want to have the greatest global impact forever." Barbara Fried's work is repeatedly mentioned in her son's biography, often used to imply that SBF is a billionaire who is less cynical than portrayed.

Barbara Fried's second prominent article is more relevant to her son's current situation. This article was published as a cover story in the Boston Review quarterly in 2013, advocating for a more forgiving attitude towards wrongdoers. "The philosophy of personal responsibility has ruined criminal justice," Barbara Fried wrote. The title of her article is "Beyond Blame."

SBF

Operating a cryptocurrency business is always legally complex, besides the commitment to doing good. SBF founded a hedge fund called Alameda Research in 2017, aimed at exploiting price differences in cryptocurrency trading between Asia and the United States. Soon, the fund was moving vast sums of money across continents in a way that looked (as he boasted about in a podcast) exactly like money laundering. Alameda found it challenging to open bank accounts.

SBF needed a lawyer. Luckily, there was one person very fitting for the role. In August 2022, Joseph Bankman said on an FTX podcast, "From the beginning, I reached out as long as I was useful." He added that the company did not have a lawyer at the time, "and I thought my role was pretty obvious."

Former Alameda staff say Joseph Bankman helped draft early legal documents. Invoices from Alameda's law firm Fenwick & West show Joseph Bankman as a meeting attendee, indicating his involvement not just in tax matters but also in the development of FTX and FTT marketing materials.

FTX was headquartered in Hong Kong until the Hong Kong government began cracking down on cryptocurrency in 2021. An individual familiar with FTX's operations said Joseph Bankman played a key role in the decision to move to the Bahamas, where there are few restrictions on digital currency. The specifics were arranged by a lawyer personally hired by Joseph Bankman — Daniel Friedberg, who was formerly a lawyer at Fenwick & West and later became FTX's general counsel.

For employees, SBF is seen as someone who often consults his father. A former staffer said that when someone suggested legal advice, SBF would typically say it sounds good but that SBF wanted to "talk to Joseph Bankman first." The employee also said that almost all the lawyers working for Alameda seemed to be very friendly with Joseph Bankman.

Other former employees mentioned that SBF could be challenging to make eye contact with and could be blunt, almost harsh, when dealing with staff, whereas his father was very personable. Joseph Bankman's training as a therapist made him an excellent listener, and Joseph Bankman was also an energetic conversationalist. Joseph Bankman would ask about employees' personal lives, participate in cricket matches (a sport popular among employees), and attend company dinners. Barbara Fried also attended FTX dinners but was less present in the office. They both acted as mediators between staff and the children. If SBF said something sharp or hard to understand, his father would try to explain or simply say he understood his son could be difficult to deal with. Another staffer recalled Joseph Bankman being seen as "a lovely old man, someone capable but not threatening, ensuring that his son didn't go off the rails at the company."

But the most critical role Joseph Bankman and Barbara Fried played was in gaining trust for their son, without which these individuals might not have been inclined to do business with a rough-edged upstart. According to two sources familiar with the matter, in 2021 when SBF was in talks with Sequoia Capital for a significant investment, the firm was interested in backing a global cryptocurrency exchange but wary of potential legal and regulatory risks.

FTX is headquartered overseas, operating on the legal edge. It is safe to say that many founders of competing firms seem ethically flexible. Binance's Changpeng Zhao is under investigation by U.S. and other authorities. He denies any wrongdoing but refuses to disclose the exact location of his company's headquarters. BitMEX co-founder and then-CEO Arthur Hayes was sued for failing to prevent money laundering on the platform. According to a federal indictment, he boasted about locating BitMEX in the Seychelles, an East African archipelago, because bribing regulators there only required "a coconut." He resigned and eventually surrendered to authorities before pleading guilty.

FTX's core business is similar to Binance and BitMEX, but SBF believes his long-term goal is to obtain approval from U.S. regulatory agencies. Additionally, he has something that other companies do not: the endorsement of a former U.S. Securities and Exchange Commission commissioner. Sources say that after a call from a former prominent SEC official, Sequoia Capital was convinced to invest. This former SEC official had informally advised the company on previous dealings, now teaches at Stanford University, and voiced support for FTX's legal strategy—involving operating overseas while striving to win approval from U.S. regulatory agencies—and mentioned that SBF happens to be a friend's son.

This endorsement is one way "Sam's parents undoubtedly opened doors for him," said one person involved in SBF's efforts to have U.S. political figures accept his company.

At that time, Barbara Fried had already established a left-wing super PAC called "Mind the Gap," positioning itself as the Silicon Valley faction of the "resistance movement." The organization provided advice on where to direct campaign donations for prominent tech donors, including former Google CEO Eric Schmidt and LinkedIn co-founder Reid Hoffman. The elite donor circle welcomed a new member in 2020: Barbara Fried's son, who donated over $5.5 million to Democratic Party and Democratic Alliance groups that year, instantly making him a player in D.C. In 2022, he donated around $40 million.

Barbara Fried directly funded candidates recommended by Mind the Gap. Former FTX executive Nishad Singh admitted to funneling FTX customer funds to support Barbara Fried-backed political causes and donated $1 million to Mind the Gap in 2021, making him the PAC's top donor in the recent election cycle. Mind the Gap has not been accused of impropriety.

Joseph Bankman

Meanwhile, Joseph Bankman frequently accompanied his son to meetings with regulatory agencies and elected officials. Joseph Bankman also appeared as a spokesperson for the company's charitable endeavors at FTX events. While still advocating for tax reform, he now sometimes raises a new interest: cryptocurrency.

While appearing on the FTX podcast, Joseph Bankman promoted a pilot program he runs in South Florida that provides a digital currency wallet to the poor in lieu of a bank account. "If you're not part of the financial system, everything becomes more difficult," he said. "The cost of cashing a check is high. The cost of moving funds is high. So, this is a national disgrace." Joseph Bankman pledged that FTX would address this issue.

In magazine profiles and TV interviews, SBF comes across as modest. He wears worn-out sneakers, lives with roommates, drives a Toyota Corolla, and has donated all savings to charity. In early 2022, SBF told a Bloomberg reporter, "You quickly find that there's no real effective way to spend money to make yourself happier. I don't want a yacht."

In reality, SBF and his inner circle actually enjoy a lavish lifestyle, as described by Super Bowl ad staff, with the office feeling like the Emerald City from "The Wizard of Oz." The company has purchased billions of dollars worth of luxury real estate, including a $30 million penthouse at the Bahamas' most luxurious resort where SBF and his associates reside. They have chartered private jets for themselves and even rented online packages since the Amazon site does not always deliver to the island. And—as indicated in bankruptcy filings—they have even bought a 52-foot yacht. It was purchased by Alameda's then co-CEO Sam Trabucco.

SBF's parents seem to share in the "spoils" as well. They fly first class, sometimes on private jets. Upon arriving in the Bahamas, they often stay in a $16 million beachfront apartment. FTX spent approximately $250 million acquiring this residence and over thirty other residences on the island. SBF's parents, through their spokesperson, stated they view this house as company property, not their own.

SBF expressed similar sentiments during an interview at The New York Times conference. "I know this isn't their long-term property," he said. "I don't know how that got written up."

According to a sales document obtained through a Bahamian public records request, SBF's parents signed as joint owners of the apartment on April 7, 2022, with a Bahamian notary public serving as a witness. The document made no mention of FTX and referred to the property as a "holiday home." "During Joseph Bankman's work in the Bahamas, this house was used as temporary accommodation," the couple's spokesperson said in a statement. "External counsel has confirmed to Joseph Bankman and Barbara Fried that FTX will hold all beneficial ownership of the property and has agreed to document this in writing."

Around the same time, Joseph Bankman received a $10 million gift from his son. FTX trustee Ray filed a lawsuit alleging that SBF obtained this money by borrowing from an account containing customer funds. According to the complaint, he did so after consulting with someone who was then serving as his personal and professional legal affairs senior advisor—his father. The lawsuit alleges that the loan was never formalized—no loan agreement, promissory note, "or other indication that SBF took these funds from Alameda was for the benefit of his family." His father transferred nearly $7 million to a personal bank account; the rest he kept at FTX.

Considering the ongoing rise in the price of cryptocurrency at the time, for Joseph Bankman, leaving some savings in FTX seemed like a logical decision, not to mention an opportunity to practice the values he had newly adopted. However, within a few months, a market-wide sell-off resulted in him losing $1 million and ultimately jeopardizing FTX itself. As the company faced bankruptcy, SBF publicly claimed that everything was fine, while seeking help from his father to minimize the losses. "FTX's assets are more than enough to cover all client assets," he wrote on Twitter (now known as X social media platform) (later deleted), "we do not invest (misappropriate) client assets."

Behind the scenes, his father conveyed a very different but ultimately more honest message: FTX was in trouble and needed cash. A source said that on November 7, the day after SBF put out false information, he and his father, along with other executives, went into hiding, trying to address what they called a run on the bank. Joseph Bankman relayed the same information to investors, including former Trump White House press secretary and financier Anthony Scaramucci, saying he first heard about FTX's trouble on November 7.

Scaramucci said that Joseph Bankman described about $1 billion in "liquidity mismatch" on a call that morning. But in a second call later that day, Joseph Bankman said the actual figure was $4.5 billion. Finally, Scaramucci learned from another FTX employee that the actual amount was $7 billion. "I think Joseph Bankman wanted to do good by his son, but he got caught in what was happening," Scaramucci said. "You want to always think the absolute best for your child."

SBF and His Mother

Over the next few days, Bankman appeared in emails sent to the Bahamian Attorney General and the country's top securities regulator, who had received word of potential fund misappropriation and increasingly frantic missives from Bankman, inquiring, succinctly, as to what the hell was going on. SBF cc'd his father, attempting to postpone their trip. He mentioned a "liquidity gap" and pledged that the company was doing its utmost to find investors. In a subsequent email, his father also cc'd on this email, proposed repaying Bahamian investors ahead of others—the federal prosecutor believed this proposal was essentially an attempt to "purchase" influence in the country.

Just before filing for bankruptcy, Bankman urged regulators and creditors to avoid hasty judgments. Sources say his initial stance was that FTX's managers were just kids who had made a mistake. He explained that they would return the money, and then everyone could get on with their lives.

However, SBF's parents did not attempt to return the cash. They did not explain why, but litigation brought by Ray on behalf of FTX creditors hinted at one reason: they needed the money to fund their son's criminal defense.

SBF was arrested in mid-December last year, subsequently extradited to the U.S., and released on bail. The $250 million bail was posted by two of his parents' colleagues at Stanford and the deed to their house as collateral. While awaiting trial, SBF was placed under house arrest. The sudden turn of events shocked friends and faculty at Stanford, who had just gotten used to the kid they saw at Joe and Barb's being a crypto billionaire. Now, he was the mastermind of one of the largest frauds in U.S. history. Barricades went up on the road to his house as SBF returned home. Students and reporters gathered; SBF's parents told friends they bought a German shepherd out of concern for their safety.

"All of this is sick, man," said Tim Rosenberger, who graduated from law school earlier this year. "Are they going to hire a new professor? Who's going to teach tax law?"

In group chats among former FTX employees, the debate over whether his parents were aware of the alleged crimes was heated. Meanwhile, friends of the couple have struggled to understand how two people known for their ethics could have made such a grave moral error. In August, prosecutors charged SBF with leaking damaging information about a former employee, allegedly attempting to intimidate a witness. His lawyer denied the accusation, but he was sent to the Brooklyn Metropolitan Detention Center.

When her son was detained, Barbara Fried wept as she tried to approach him from the gallery. "That's my son!" she said as a U.S. marshal stopped her. She watched as SBF followed standard procedure, taking off his jacket, loosening his tie, bending to untie the laces on his dress shoes. As his mother cried, his father put an arm around her shoulder.

Friends say they are deeply worried about the couple. Neither parent has taught a class since SBF's arrest. Joseph Bankman canceled his courses, Barbara Fried retired from the school two months before FTX collapsed, and she resigned from her political nonprofit. "It's a devastating thing to happen to such a wise and public-spirited family," said John Donohue III, a Stanford professor and longtime family friend.

"It's hard to think, 'How could they not have known?'" another friend who requested anonymity said. "The best explanation I can come up with is it's a blind faith. They didn't have the full picture."

And of course, if the prosecutor's narrative is accurate, SBF's deceit was antisocial—defrauding not just investors but business partners, even his own employees. It's no exaggeration to say he may have leveraged his parents—and their illustrious academic careers—to build an exploitative enterprise. SBF has claimed to be a billionaire. Why didn't he buy his parents a nice house? Why couldn't his father join Larry David at the Super Bowl shoot?

But critics say that even if they didn't know about the alleged embezzlement, the parents should bear some responsibility. Barbara Fried's moral compass might explain how her son could overlook glaring ethical lapses in service of what he believed to be a greater good. By this logic: If the end result is tens of billions of dollars going to save the world in charitable donations, what's a little embezzlement?

Meanwhile, Joseph Bankman's involvement in providing legal advice, while now appearing at least unwise, if not outright unreasonable. He was involved in several decisions, including the launch of FTX, the creation of FTT, the company's efforts to curry favor with politicians, and dealings with Bahamian regulators, all of which have been criticized by regulators and prosecutors as potentially illegal. Joseph Bankman was also involved in the hiring of FTX's general counsel Friedberg, who has been accused of enabling fraudulent behavior and actively trying to cover up efforts to expose the fraud, including bribing potential whistleblowers. These allegations were made in a lawsuit brought on behalf of FTX creditors, which include a comment by Joseph Bankman to his son urging him to rely on Friedberg, "so we only have one person taking the hit." Friedberg has denied any wrongdoing, has not been charged with a crime, but critics say his background is enough to give pause—including working at a Canadian online poker site that was accused of defrauding players during his tenure.

Next up is Stanford University itself. Just a month before SBF's arrest, Elizabeth Holmes was sentenced to 11 years in prison for fraud at the medical device company Theranos Inc. She founded this company on campus during her student days and recruited prominent faculty members to serve as employees and directors. With the Holmes case, along with Stanford University President Marc Tessier-Lavigne resigning over allegations of data manipulation in several academic papers, some professors and students are starting to question why the school didn't uncover misconduct cases sooner.

Meanwhile, defenders of Stanford University, including Donoho, point out that Stanford University is not the reason SBF is accused of a crime; at most, it's just part of his background. But background matters. Coming from a place like Stanford, with accomplished parents, changes the world's perception of your shortcomings. Behaviors that might be seen as unserious, such as playing video games during meetings, become clear evidence of brilliance.

For the past 10 months, SBF has been trying to shift blame to former employees, lawyers, and business rivals, insisting that his mistakes were due to carelessness, not malice. "I messed up" are his exact words in the congressional testimony he wrote before his arrest. He seems to be saying that he was just a kid way out of his depth.

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