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.
Medina County Scam Squad coming to residents’ rescue
Both local and widespread scams have been claiming victims for years, continuing to increase and change as technology and other factors evolve. To combat this, the Medina County Office of Older Adults and the Medina County Prosecutor’s Office have worked together to...
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