Feds charge former FTX CEO Sam Bankman-Fried with money laundering and all kinds of fraud

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Illustration: The Verge

About twelve hours after we learned authorities in the Bahamas have arrested FTX co-founder and former CEO Sam Bankman-Fried (SBF), the US Securities and Exchange Commission (SEC) revealed the first of multiple sets of charges he’ll face. Those were quickly followed by another civil lawsuit filed by the Commodity Futures Trading Commission (CFTC) and, finally, criminal charges filed by the US attorney’s office for the Southern District of New York.

The criminal charges were filed last Friday and unsealed today, they include eight counts that cover allegations of wire fraud against customers and those who lent money to his firms, securities fraud, and money laundering.

The SEC complaint accuses Bankman-Fried of executing a “years-long…

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Author: Richard Lawler