Just In: Sam Bankman-Fried Set To Face Criminal Charges For Fraud In New York

In yet another setback for FTX founder Sam Bankman-Fried, authorities in the U.S. are likely to take the legal route. The office of Manhattan US attorney is preparing criminal charges against Sam Bankman-Fried and the crypto exchange FTX. The charges would likely be for defrauding customers. Earlier, the new CEO of the exchange John Ray criticized SBF’s management style in a court filing.

Criminal Charges Against Sam Bankman-Fried

The Manhattan authorities are likely looking into the alleged diversion of funds between FTX and Alameda Research. Charles Gasparino, a Fox News Correspondent, quotes sources close to the office of Manhattan US attorney. Apparently the attorney’s office is looking to prepare charges by the end of 2022. The case charges would likely be around the misuse of customer funds.

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