The U.S. Securities and Exchange Commission (SEC) has official | Bull & Bear

The U.S. Securities and Exchange Commission (SEC) has officially charged Sam Bankman-Fried with defrauding FTX investors.

A report from the SEC has stated the former CEO is being charged with “defrauding investors in crypto asset trading platform FTX.”

The news has arrived today, following previously filed charges against the co-founder of FTX in December of 2022. Conversely, today’s charges issued noted Bankman-Fried, “concealed his diversion of FTX customer funds to crypto trading firm Alameda Research while raising more than $1.8 billion from investors.”