FTX Founder Sam Bankman-Fried Arrested in Bahamas, Charged With Fraud | Compare reporting by CNNBusiness axios NRO
: "We allege that Sam Bankman-Fried built a house of cards on a foundation of deception while telling investors that it was one of the safest buildings in crypto," SEC Chair Gary Gensler said in a statement."The alleged fraud committed by Mr. Bankman-Fried is a clarion call to crypto platforms that they need to come into compliance with our laws."after allegedly defrauding customers. The SEC is moving to ban Bankman-Fried from the cryptocurrency industry.
Criminal charges are expected to be announced shortly by prosecutors for the Southern District of New York. An increasing number of media reports, and statements from Bankman-Fried, have suggested that client funds have been improperly accessed by the company's top brass, costing investors millions of dollars. Bankman-Fried allegedly used FTX funds to make risky bets at his hedge fund Alameda, and to make large political donations and lavish real estate purchases.
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Today At 11AM ET: Forbes’ Streaming Interview With FTX Founder Sam Bankman-FriedAt 11am EST Forbes will be livestreaming an interview between FTX founder Sam Bankman-Fried and Forbes Digital Assets Director of Research Steve Ehrlich. The livestream will occur less than 24 hours before Bankman-Fried is set to testify before Congress.
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FTX Founder Sam Bankman-Fried Arrested in the Bahamas After U.S. Files Criminal ChargesFTX founder Sam Bankman-Fried was arrested by Bahamian authorities this evening after the United States Attorney for the Southern District of New York shared a sealed indictment with the Bahamian government.
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