FTX founder Sam Bankman-Fried is accused of eight offences including wire fraud and violation of campaign finance laws
The US Securities and Exchange Commission has charged Bankman-Fried with “orchestrating a scheme to defraud investors”
It’s believed the U.S. will now extradite the fallen crypto founder.
The SEC chair said Bankman-Fried built a “house of cards on a foundation of deception”
Meanwhile, The U.S. Attorney who filed the charges, called it “one of the biggest financial frauds” in U.S. history
Attorney Williams accused the former crypto king of illegally using money in politics
The 30-year-old went from billionaire to broke overnight in November, stunning the crypto community.
According to bankruptcy filings, FTX now owes top investors over USD$3 billion.
Bankman-Fried denies the fraud and also faces civil action from two U.S. financial watchdogs.
