FTX boss Sam Bankman-Fried charged with defrauding investors by US
BBC, 13 Dec 2022
Sam Bankman-Fried, founder of the collapsed cryptocurrency exchange FTX, has been charged with defrauding investors of billions of dollars by the US Securities and Exchange Commission (SEC).
The SEC said Mr Bankman-Fried, who was arrested in the Bahamas on Monday, had “built a house of cards on a foundation of deception”.
It is alleged Mr Bankman-Fried used FTX customers’ funds for his privately-held crypto hedge fund, Alameda Research LLC.
A court filing shows FTX owed its 50 largest creditors almost $3.1bn.
Please subscribe HERE http://bit.ly/1rbfUog
#BBCNews
The SEC said Mr Bankman-Fried, who was arrested in the Bahamas on Monday, had “built a house of cards on a foundation of deception”.
It is alleged Mr Bankman-Fried used FTX customers’ funds for his privately-held crypto hedge fund, Alameda Research LLC.
A court filing shows FTX owed its 50 largest creditors almost $3.1bn.
Please subscribe HERE http://bit.ly/1rbfUog
#BBCNews
