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FTX founder Sam Bankman-Fried charged with defrauding investors

By Dominic Rushe, Kari Paul and Alex Hern

13 Dec 2022 · 3 min read

Editor's Note

One prosecutor called it “one of the biggest financial frauds in U.S. history.” Sam Bankman-Fried is accused of lying to investors and using customer funds for his personal gain. The Guardian reports.

Sam Bankman-Fried, the founder and former chief executive of the cryptocurrency exchange FTX, has been charged with fraud, conspiracy to commit money laundering and conspiracy to defraud the US and violate campaign finance laws.

The eight criminal charges filed by the US attorney’s office for the southern district of New York on Tuesday follow civil charges brought by the US Securities and Exchange Commission (SEC) accusing the 30-year-old former billionaire of defrauding investors by building a company that was a “house of cards”.

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