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SEC Whistleblower Lawyer Blog

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The cryptocurrency world is still reeling from the collapse of FTX, the crypto exchange that went bankrupt last December. Overnight, it seemed that billions had disappeared, and no one—notably not its CEO, Sam Bankman-Fried—seemed to know where the money had gone. It’s unclear if investors will ever see any money returned to them. And it’s equally unclear if Bankman-Fried will ever see the inside of a prison cell.  What Is Sam Bankman Fried Accused Of Doing?  Authorities are prosecuting Bankman-Fried to the fullest extent of the law. The Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC) have both accused him of fraud. Meanwhile, federal prosecutors are accusing Bankman-Fried of defrauding his lenders, his customers, and the United States. They have also charged him with conspiracy to commit fraud, conspiracy to commit money laundering, and violations of federal campaign finance laws.The cryptocurrency world is still reeling from the collapse of FTX, the crypto exchange that went bankrupt last December. Overnight, it seemed that billions had disappeared, and no one—notably not its CEO, Sam Bankman-Fried—seemed to know where the money had gone. It’s unclear if investors will ever see any money returned to them. And it’s equally unclear if Bankman-Fried will ever see the inside of a prison cell. Continue reading

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