The former boss of FTX has been charged with eight criminal counts
, a crypto exchange, placed the firm, along with Alameda Research, its sister hedge fund, into bankruptcy proceedings. The exchange was unable to meet customer withdrawal requests; the problem, it became clear, was that some $8bn of customer assets had ended up in the custody of Alameda, and were missing. In the intervening 32 days Mr Bankman-Fried has given countless interviews in which he has apologised, appeared confused by thethat he “failed to have proper oversight”.
complaint argues that Alameda used the funds to make venture investments, purchase lavish properties and make political donations, and that use of them in this way means that Mr Bankman-Fried was “orchestrating a massive years-long fraud”.
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