‘A House of Cards on a Foundation of Deception:’ SEC Charges SBF With Defrauding Investors

The SEC is accusing Bankman-Fried of running a fraudulent crypto empire where billions of dollars in FTX customer funds were funnelled to sister hedge fund Alameda Research both directly via transfers and by drawing on an infinite line of credit at FTX. The SEC alleges that there was no real distinction between the two entities, and that Alameda Research commingled FTX customer funds with its own assets.

Read full article on Motherboard

 


Date:

Categorie(s):