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The Independent UK

National

Ken Sweet

EXPLAINED: Sec charges former ftx ceo with defrauding crypto investors | Rare Historical Photos

FTX SEC Crypto Sam Bankman-Fried United States

AP

The US Securities and Exchange Commission (SEC) has charged disgraced cryptocurrency baron Sam Bankman-Fried with defrauding FTX investors and customers – just hours after he was arrested in The Bahamas.

In a statement on Tuesday morning, the SEC said the 30-year-old “orchestrated a years-long fraud” at FTX where he diverted customer funds to Alameda Research – a private hedge fund which he also owed – and kept it hidden from investors.

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