The Case Against Sam Bankman-Fried

Sam Bankman-Fried has been arrested, accused of engineering “one of the biggest financial frauds in American history.”

In a Department of Justice indictment unsealed on Tuesday, Bankman-Fried has been charged with eight counts including conspiracy to commit wire fraud on customers and lenders, money laundering and violations of campaign finance laws. Bankman-Fried, who was arrested in the Bahamas on Monday, faces years in prison if convicted.

The charges point to a long-running scheme to misappropriate the deposits of exchange customers to pay debts and expenses of Bankman-Fried’s private trading firm Alameda Research and to make investments. The conspiracy ran from 2019 — the year he founded FTX — until its collapse last month, according to the complaint.

The SEC and The CFTC have also charged Sam Bankman-Fried


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