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.
Byblos Christmas tree brings comfort to Lebanese despite uncertain future
This year in Lebanon, hope and perseverance are symbolised by a Christmas tree. The holidays in Byblos are a dazzling sight, despite the country entering the fourth year of a financial crisis that has paralysed state institutions, caused basic services to collapse...
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