The U.S. Securities and Exchange Commission (SEC) accused SBF of defrauding investors through FTX

2022-12-13 21:08:34

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ChainCatcher News, the U.S. Securities and Exchange Commission (SEC) has charged FTX founder Samuel Bankman-Fried (SBF) with defrauding investors in FTX, alleging that the defendant concealed his transfer of FTX customer funds to Alameda Research while raising over $1.8 billion from equity investors, including approximately $1.1 billion from about 90 U.S. investors.

The SEC is investigating other violations of securities laws as well as other entities and individuals related to the alleged misconduct. The SEC will seek an injunction to prohibit SBF from participating in the issuance, purchase, offer, or sale of any securities, except for his own personal account statements. The lawsuit seeks to recover SBF's ill-gotten gains and impose civil penalties on him.

SEC Chairman Gary Gensler stated that we are charging SBF with building a house of cards based on deception while claiming to investors that it was one of the safest buildings in cryptocurrency. Meanwhile, the U.S. Attorney's Office for the Southern District of New York and the Commodity Futures Trading Commission (CFTC) also announced charges against SBF today. (Source link)

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U.S. SEC SBF FTX fraud

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