SEC’s Giant $1.8 Billion Lawsuit for Bankman-Fried

The US Securities and Exchange Commission (SEC) accuses FTX founder Sam Bankman-Fried of defrauding investors.

According to the statement made by the SEC, the cryptocurrency exchange FTX has received a total of $1.1 billion from US investors since May 2019. More than $1.8 billion received investment.

SEC, Bankman-Fried’s FTX “a secure and responsible crypto trading platform” creates a perception that it is deceiving the investors claims.

According to the statements made by the SEC, Bankman-Fried transferred the funds deposited by FTX customers to the stock market to Alameda Research and transferred these funds. making non-public investments, investing in luxury real estate, and making political donations used for.

Similarly, the New York Attorney General’s Office and the Commodity Futures Contracts Commission (CFTC) are filing similar charges against Sam Bankman-Fried.

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