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FTX’s Bankman-Fried charged by US for ‘scheme’ to defraud

today12/13/2022 24

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NEW YORK (AP) — U.S. prosecutors charged Sam Bankman-Fried, the former CEO of cryptocurrency exchange FTX, with a host of financial crimes on Tuesday, alleging he played a central role in the collapse of FTX and hid its problems from the public and investors.

Bankman-Fried was charged with eight counts, ranging from wire fraud to money laundering to conspiracy to commit fraud on the U.S. He was also charged with violating campaign finance laws.

Earlier Tuesday, the U.S. Securities and Exchange Commission alleged Bankman-Fried defrauded investors and used proceeds from investors to buy real estate on behalf of himself and family.

Source: AP – All contents copyright 2022 Associated Press.  All rights reserved.

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