Home News Former FTX CEO Sam Bankman-Fried Arrested

Former FTX CEO Sam Bankman-Fried Arrested

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Sam Bankman-Fried Arrested: A shocking piece of news has emerged about Sam Bankman-Fried. He is a founder of the crypto currency, and Alameda research, its sister fund, was involved in bankruptcy proceedings.

If he is convicted of all eight charges imposed on him by the US Department of Justice, he will spend a lot of time in prison. Many questions have been raised about him on social media.

Sam Bankman-Fried Arrested

Nicholes Biase (US prosecutor) stated that the maximum prison exposure for him based on all charges is 115 years. This comes from the list of his criminal accusations.

The Federal Bureau of Investigation and the Securities Exchange Commission and the Commodity Futures Trading Commission are working together to uncover the truth about one of America’s greatest financial frauds.

This was stated by Damian Williams, Manhattan US Attorney. Another person was also sued by the SEC and CFTC for giving way to FTX.

Who is Sam Bankman-Fried ?

It was found that the exchange was unable to process withdrawal requests from customers.

The exchange also confirmed that approximately $8bn worth of assets of the customer had been completed and were now in Alameda’s custody.

In numerous interviews, he has apologized for his actions and been distracted by the determination of his empire within 32 days.

He tried to shift blame and claim ignorance, but justice is not a precondition. Good Morning America told him that he did not do an exhaustive oversight. He also gave a statement to New York magazine.

On Monday, he was taken into custody by the US government. He was charged with money laundering and fraud.

Mark S. Cohen, his lawyer, said that he was working with his team to understand all legal options and is currently working on the case.

It is unclear what will happen if all his criminal charges are confirmed and how long he will spend in prison. However, nothing can be said without the Justice of Court.

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