Türkiye'de Mostbet çok saygın ve popüler: en yüksek oranlarla spor bahisleri yapmayı, evden çıkmadan online casinoları oynamayı ve yüksek bonuslar almayı mümkün kılıyor.
Search for:
Polskie casino Mostbet to setki gier, zakłady sportowe z wysokimi kursami, gwarancja wygranej, wysokie bonusy dla każdego.
  • Home/
  • Technology/
  • These are the criminal charges facing FTX co-founder Sam Bankman-Fried

These are the criminal charges facing FTX co-founder Sam Bankman-Fried

As of at least May 2019, FTX, based in the Bahamas, has raised more than $1.8 billion from equity investors, including about $1.1 billion from about 90 U.S.-based investors, according to the SEC’s complaint. In his statements to investors, Bankman-Fried promoted FTX as a safe, responsible trading platform for crypto assets, specifically touting FTX’s advanced, automated risk controls to protect client assets.

The complaint alleges that Bankman-Fried actually orchestrated years of fraud to conceal from FTX’s investors (1) the secret diversion of FTX clients’ money into Alameda Research LLC, its private crypto hedge fund; (2) the undisclosed special treatment accorded to Alameda on the FTX platform, including providing Alameda with a virtually unlimited “line of credit” funded by the platform’s clients and exempting Alameda from certain key FTX mitigation measures ; and (3) undisclosed risk arising from FTX’s exposure to Alameda’s significant holdings of overvalued, illiquid assets such as FTX-affiliated tokens.

The complaint further alleges that Bankman-Fried used the commingled funds of FTX clients at Alameda to make undisclosed risk investments, lavish real estate purchases and large political donations.

Shreya has been with australiabusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider australiabusinessblog.com, Shreya seeks to understand an audience before creating memorable, persuasive copy.

Leave A Comment

All fields marked with an asterisk (*) are required