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.
FTC
On Tuesday, Sep 24th, the FTC along with Ethnic Media Services,many local media and ethnic Journalists, FBI, Legal Aid, experts from several agencies for a robust and informative session. How to Protect Yourself A great resource to learn about avoiding scams is...
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