CFTC Charges Sam Bankman-Fried, FTX Trading and Alameda with Fraud and Material Misrepresentations

From cftc.gov

The Commodity Futures Trading Commission today announced the filing of a complaint in the U.S. District Court for the Southern District of New York against Samuel Bankman-Fried, FTX Trading Ltd. d/b/a FTX.com (FTX), and Alameda Research LLC (Alameda). The complaint charges all three defendants with fraud and material misrepresentations in connection with the sale of digital commodities in interstate commerce. Further, the complaint asserts that defendants’ actions caused the loss of over $8 billion in FTX customer deposits. “Digital commodity asset markets continue to present risks for investors due to the lack ... (full story)