Prosecutors said Bankman-Fried lied to investors and lenders and stole billions of dollars from the bitcoin exchange FTX, which helped cause it to go bankrupt.  The defendant is to face seven charges related to the illegal acquisition and laundering of funds. Frauded many FTX customers He Frauded many FTX customers to put money into Bankman-Fried’s crypto trading company Alameda Research in the early days of the exchange when traditional banks were unwilling to allow it to open an account.

Source: GBHackers