There will be a new version of Dec 13, 2022, 10:44amEST.
Sam Bankman-Fried, the former FTX boss and one-time cryptocurrencies billionaire, has been charged with eight criminal counts by the U.S. prosecutors.
Sam Bankman- Fried was taken into custody in the Bahamas.
A New York federal court indicted Bankman-Fried for conspiracy to commit wire fraud on customers, wire fraud on customers, conspiracy to commit wire fraud on lenders, and conspiracy to commit commodities fraud.
Bankman-Fried is accused of agreeing with others to defraud customers of FTX.com by misappropriating their deposits and using them to pay expenses and debts.
Bankman-Fried is accused of giving false and misleading information to the lender about the financial condition of Alameda Research.
Some of Bankman- Fried's millions of dollars in recent political donations were illegally made in the names of other people, according to prosecutors.
Bankman- Fried told Forbes on Monday that he hadn't started thinking about trials. There will be a time and place for that.
Some of Bankman- Fried's millions of dollars in recent political donations were illegally made in the names of other people, according to prosecutors.
The downfall of Bankman-Fried was swift, with FTX filing for bankruptcy last month amid concerns about FTX and Alameda's intertwined and potentially illegal business practices. Bankman-Fried agreed to testify before the House Financial Services Committee last week, even though he was facing felony charges. Bankman- Fried will testify at 10 a.m. Forbes obtained what he planned to say before he was arrested. Bankman-Fried wanted to blame his successor as FTX CEO, John J. Ray III, as well as other people, for the company's downfall.
A total of $39.90 million. Bankman-Fried gave at least $6 million to the Democrats in the run up to the election. Bankman- Fried claims to have given millions more to Republicans.
The full testimony Bankman- Fried is going to give to congress is exclusive.
Everyone was going to be blamed in front of congress today.
The founder of FTX blames bad legal advice for the firm's downfall.
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