US charges Sam Bankman-Fried with defrauding investorson December 13, 2022 at 12:09 pm

- Advertisement -
- Advertisement -
- Advertisement -
- Advertisement -

He is accused of “orchestrating a scheme” to defraud investors in failed crypto exchange FTX.

Breaking News image

The US Securities and Exchange Commission (SEC) has charged Sam Bankman-Fried with “orchestrating a scheme to defraud investors” in the failed cryptocurrency exchange FTX.

The former FTX boss was arrested on Monday.

Mr Bankman-Fried built a “house of cards on a foundation of deception” SEC Chair Gary Gensler said.

He said the alleged fraud was a call for other platforms to comply with US laws.

The SEC charged Bankman-Fried with violating the anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934.

- Advertisement -

Discover

Sponsor

Latest

Masters 2023: Ronnie O’Sullivan sweeps Luca Brecel aside to reach last eighton January 9, 2023 at 4:17 pm

World number one Ronnie O'Sullivan swept Luca Brecel aside to reach the quarter-finals of the Masters with a 6-1 win at Alexandra Palace.World number...

Olive Raises $51M In General Catalyst-Led Round To Create ‘The AI Workforce For Health Care’

To say hospitals are overloaded right now is an understatement. Doctors and nurses are overwhelmed by addressing the COVID-19 pandemic, not just in treating those...

Covid: Christmas flights cancelled and new curbs amid Omicron spreadon December 24, 2021 at 2:31 pm

Millions face travel disruption and more restrictions as Omicron upends Christmas plans worldwide.Image source, ReutersMillions of people are facing travel disruption and increased Covid...

Chuckles, smiles and mispronunciation – Inside Donald Trump Jr’s courtroom debuton November 2, 2023 at 12:23 am

The eldest son of the former president appeared confident on the stand as he testified on Wednesday.This video can not be playedTo play this...

Ncuti Gatwa: The Scottish-Rwandan roots of the 14th Doctor Whoon May 10, 2022 at 5:29 am

Ncuti Gatwa is preparing to take on the role of one of British TV's most iconic characters.