In a statement, the SEC says it will seek an injunction to prevent Mr Bankman-Fried from future securities trading except for his personal account and a civil penalty, among other actions.
abc.net.au/news/ftx-cryptocurrency-sam-bankman-fried-charged-with-fraud/101769030The US Securities and Exchange Commission has charged the former CEO of failed cryptocurrency firm FTX with orchestrating a scheme to defraud investors.Mr Bankman-Fried allegedly raised $US1.
"We allege that Sam Bankman-Fried built a house of cards on a foundation of deception while telling investors that it was one of the safest buildings in crypto," said SEC Chair Gary Gensler in a statement.
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