Sam Bankman-Fried wanted to regain control of FTX by moving assets and getting better treatment from foreign regulators, Justice Department says
Prosecutors also say that although the crypto exchange froze customer withdrawals in late 2022, Bankman-Fried unfroze accounts in the Bahamas and allowed millions in customer withdrawals, to show his gratitude for the island nation where FTX was headquartered.
"We are deeply grateful for what The Bahamas has done for us, and deeply committed to it," Bankman-Fried wrote in a letter at the time to the Bahamas attorney general."We are also deeply sorry about this mess." Bankman-Fried and FTX co-founder Gary Wang were also said to take control of $546 million of Robinhood stock last year, which prosecutors said was illegally purchased with funds from Alameda. The purchase was an attempt to conceal the
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SBF's use of Robinhood stock showed bid to cloak alleged crimes: DOJSam Bankman-Fried's handling of Robinhood stock show how the FTX founder tried to cloak his alleged crimes, prosecutors reportedly say
Read more »
SBF's use of Robinhood stock showed bid to cloak alleged crimes: DOJSam Bankman-Fried's handling of his $465 million in Robinhood stock indicate the lengths he went to in trying to mask his alleged crimes, prosecutors said.
Read more »
SBF says lawyers 'sandbagged' him over demands to tighten bail conditionsSam Bankman-Fried says prosecutors 'sandbagged' him over demands to tighten FTX founder's bail
Read more »
SBF's Alameda seeks to reclaim $446 million in loan payments to VoyagerAlameda Research, the trading arm of Sam Bankman-Fried’s bankrupt crypto exchange FTX, is seeking to recoup about $446 million in loan payments from similarly bankrupt crypto lender Voyager Digital.
Read more »
SBF’s $250M bail guarantors should be made public, rules judgeSam Bankman-Fried’s lawyers had argued that the identities of the two people who guaranteed their clients $250 million bond should be kept private to protect them from potential harassment and threats.
Read more »