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Former FTX CEO Sam Bankman-Fried charged with securities fraud by the SEC


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FTX logo Illustration: The Verge

About twelve hours after we learned authorities in the Bahamas have arrested FTX co-founder and former CEO Sam Bankman-Fried, the US Securities and Exchange Commission (SEC) revealed the first of multiple sets of criminal charges he’ll face.

The SEC complaint accuses Bankman-Fried of defrauding investors in the exchange, citing the more than $1.8 billion it received from equity investors since 2019, which includes $1.1 billion from investors in the US. Other charges may follow, but these are the ones he’s facing so far, and that’s just from the SEC — its announcement notes other charges are being filed today by the US Attorney’s Office for the Southern District of New York and the Commodity Futures Trading Commission (CFTC).



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