Sam Bankman-Fried stands accused of defrauding investors out of nearly $2 billion The US Securities and Exchange Commission (SEC) stated on Tuesday that former FTX chief executive Sam Bankman-Fried orchestrated a years-long scheme to defraud equity investors, raising more than $1.8 billion. Bankman-Fried was arrested Monday in the Bahamas and is facing possible extradition to the US on criminal charges. According to a statement on the SEC website, the fallen crypto billionaire concealed risks and FTX’s relationship with its trading firm Alameda Research, and used commingled customer funds. “We allege that Sam Ban
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