UPDATE: In the legal filings, the SECGov said Bankman-Fried inappropriately used customer funds to bail out Alameda Research, and fund his lavish personal lifestyle and political donations. By jackschickler and parikshitm899
Legal filings posted on Tuesday claims that Bankman-Fried inappropriately used customer funds to bail out the supposedly separate trading arm Alameda Research, and fund both Bankman-Fried's personal lifestyle and political donations.
The document further alleges that Alameda was secretly granted special status with lines of credit and an exemption from liquidation protocols on the FTX exchange, in effect giving it the right to access customer funds.
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.
SEC authorizes separate charges against FTX founder Sam Bankman-FriedThe SEC announces it has authorized charges against FTX founder Sam Bankman-Fried hours after his arrest in the Bahamas
Read more »
SEC charges Samuel Bankman-Fried with defrauding investors in FTX TradingThe Securities and Exchange Commission said Tuesday it has charged Samuel Bankman-Fried with orchestrating a scheme to defraud equity investors in FTX...
Read more »
Sam Bankman-Fried arrest updates: Facing civil fraud charges from SECBREAKING: The U.S. Securities and Exchange Commission on Tuesday charged Sam Bankman-Fried, the embattled former CEO of cryptocurrency giant FTX and trading firm Alameda Research, with defrauding investors.
Read more »
SEC charges Bankman-Fried for alleged 'massive, years-long fraud'The SEC has filed charges against Samuel Bankman-Fried, for allegedly 'orchestrating a massive, years-long fraud' involving cryptocurrency trading platform FTX.
Read more »
Sam Bankman-Fried accused of fraud by SEC ahead of criminal chargesSam Bankman-Fried was arrested on Monday night in the Bahamas at the request of U.S. authorities.
Read more »
Sam Bankman-Fried Charged With Defrauding FTX Investors: SECThe fallen crypto mogul, who was arrested in the Bahamas, is accused of building “a house of cards on a foundation of deception.”
Read more »