Former FTX CEO Bankman-Fried Hit with Eight Count Indictment, SEC Civil Charges

Dec 14,2022
KingData News: U.S. prosecutors charged Sam Bankman-Fried, the founder and former CEO of cryptocurrency exchange FTX, with a host of financial crimes and campaign finance violations on Tuesday, alleging he played a central role in the rapid collapse of FTX and hid its problems from the public and investors. The maximum potential prison exposure from these charges is 115 years, according to Nicholas Biase, a spokesperson for U.S. prosecutors.
A financial document disclosed in the media indicates that SBF's Alameda Research has a capital debt situation, with nearly half of its holdings related to FTT and Solana. On November 6, 2022, CZ stated that due to recent revelations, Binance will sell all FTT on its books. This indicator broadcasts updates on FTX-related events.
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