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NEWS: Former CEO of FTX, Sam Bankman-Fried charged with ‘orchestrating a scheme to defraud equity investors’ by US SEC

Photo credit: Sam Bankman-Fried LinkedIn

By Elizabeth Hearst for AMLi

The US Securities and Exchange Commission has charged the former CEO and Co-Founder of crypto exchange FTX, Sam Bankman-Fried with “orchestrating a scheme to defraud equity investors”.

In a statement, the SEC said that the firm had raised more than $1.8BN from equity investors, including approximately $1.1BN from 90 US-based investors since May 2019. 

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