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US SEC charges Bankman-Fried for defrauding investors in FTX Trading

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Published on: 14 December 2022
Published by LNB News

LNB News 14/12/2022

Document Information

Issue Date: 14 December 2022

Published Date: 14 December 2022

Jurisdiction(s): United Kingdom

Article summary

The US Securities and Exchange Commission (SEC) has charged Samuel Bankman-Fried for defrauding investors by concealing his diversion of FTX customers’ funds to Alameda Research, a crypto trading firm, while raising more than $US 1.8bn from investors. The Chair of the SEC, Gary Gensler, has said that ‘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’.

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Jurisdiction(s):
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