Sam Bankman-Fried charged with securities fraud tracing back to the ‘inception’ of FTX

Dec 13 2022 by The Verge

 
Illustration: The Verge

About twelve hours after we learned authorities in the Bahamas have arrested FTX co-founder and former CEO Sam Bankman-Fried (SBF), the US Securities and Exchange Commission (SEC) revealed the first of multiple sets of criminal charges he’ll face.

The SEC complaint accuses Bankman-Fried of executing a “years-long fraud” while diverting customers’ funds from FTX to his crypto trading firm, Alameda Research, then spending some of the funds on...

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