SEC charges SamBankman-Fried for defrauding equity investors
Within a span of 24 hours, Sam Bankman-Fried has gone from being a free man to being locked up facing charges from multiple United States agencies.the former CEO of bankrupt crypto exchange FTX for defrauding the investors of the exchange.from the SEC, the regulator has alleged that Sam Bankman-Fried orchestrated a plot to defraud equity investors of FTX Trading Ltd. It is important to note that this charge does not pertain to the customers of FTX, the depositors.
These include the diversion of FTX’s customer funds to sister firm Alameda Research and the risk stemming from FTX’s exposure to the FTT tokens held by Alameda.SEC Chairman Gary Gensler took this opportunity to direct crypto firms to come into compliance with their regulations. These charges against SBF come less than 24 hours after reports revealed that the U.S. Attorney for the Southern District of New York is
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