Even as Sam Bankman-Fried, the former CEO of the collapsed FTX, was arrested and denied bail earlier this week, the questions around the case are still unanswered.
Matthew Barhoma, founder of Barhoma Law and Power Trial Lawyers, said that the arrest of Bankman- Fried was both timely and hasty.
"Expect more charges against Bankman- Fried and others associated with FTX."
Bankman-Fried was charged by the SEC and theCFTC for defrauding investors. He is being investigated for more than one securities law violation.
FTX founder Sam Bankman-Fried has been arrested in the Bahamas
The head of government solutions for Taxbit agreed with Barhoma that there would be more charges. He said that the arrest was not surprising.
Damian Williams, the US attorney for the Southern District of New York, was asked during a press conference on Tuesday afternoon whether the entities will bring charges against other individuals allegedly involved in the FTX collapse.
Five of the eight counts are related to conspiracy. A criminal conspiracy requires more than one individual so we should expect some other individuals to be charged as co-conspirators.
US attorney says ‘we are not done’ charging individuals for FTX collapse
There is a lot of speculation about who was involved in the FTX saga. There is more to come from the indictment from the U.S. Department of Justice.
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