SEC charges FTX co-founder Sam Bankman-Fried with 'defrauding investors'

Dec 13 2022 by Engadget

Following his arrest in the Bahamas, the US Securities and Exchange Commission (SEC) has charged FTX co-founder Sam Bankman-Fried with "defrauding investors," it announced. It alleges that Bankman-Fried "concealed his diversion of FTX customers' funds to [the] crypto trading firm Alameda Research while raising more than $1.8 million from investors." 

At the same time, the US Attorney's Office of the Southern District of New York and the Commodity Futures Trading Commission (CFTC) also...

Continue Reading SEC charges FTX co-founder Sam Bankman-Fried with 'defrauding investors'