JUST IN: U.S. prosecutors just unveiled a litany of charges against Sam Bankman-Fried, including conspiracy, campaign finance violation and fraud allegations. nikhileshde reports
U.S. prosecutors revealed a litany of charges against Sam Bankman-Fried, the founder and former CEO of crypto exchange FTX, including wire fraud, conspiracy to commit money laundering and campaign finance violations early Tuesday.in The Bahamas, at the U.S.'s request, and is scheduled to appear before a local magistrate court on Tuesday. The U.S.
The Department of Justice wants Bankman-Fried to forfeit any property derived from these alleged crimes.by misappropriating those customers' deposits and using those deposits to pay expenses and debts of Alameda Research, Bankman-Fried's proprietary crypto hedge fund, and to make investments." Earlier on Tuesday, the U.S. Securities and Exchange Commission and Commodities Future Trading Commission also announced various charges against Bankman-Fried.Wire fraud on customers;Conspiracy to commit commodities fraud;Conspiracy to commit money laundering and conspiracy to defraud the U.S. and violate campaign finance laws.
Bankman-Fried was supposed to testify before the House Financial Services Committee on Tuesday, before his arrest. The former CEO also spoke to a number of news organizations and an assortment of people about the collapse of FTX in the month between its filing for bankruptcy and his arrest.
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