The SEC and prosecutors said Bankman-Fried illegally siphoned off customer deposits on the FTX platform and used it to enable Alameda's trading, buy real estate and make huge campaign donations to U.S. politicians.
Associates of FTX founder Sam Bankman-Fried plead guilty to criminal charges
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Securities and Exchange Commission complaint alleges that Bankman-Fried raised more than $1.8 billion from investors since May 2019 by promoting FTX as a safe, responsible platform for trading crypto assets but instead diverted customers’ funds to a privately held crypto hedge fund called Alameda Research LLC without telling them.
Democrats scramble to dump Sam Bankman-Fried donations
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