Sam Bankman-Fried, founder of FTX, is charged with eight counts of fraud

The plaintiff’s document concludes that the defendant “will deliver to the United States all property, real property or personal (…) obtained or derived from proceedings identifiable with the commission of the above crimes, with including, without limitation, the sum of money in U.S. currency representing the aggregate of items identifiable with the commission of said crimes”.

The New York Times newspaper assured Tuesday that, according to a person familiar with the case, Bankman-Fried cooperated in the arrest and will appear before the Court of First Instance in Nassau, the capital of the Bahamas, without knowing when it may are activated. the extradition.

The young financier also faces another lawsuit, in this case from the US Securities and Exchange Commission (SEC), accusing him of orchestrating fraud against investors.

“Sam Bankman-Fried built a house of cards based on deception while telling investors it was one of the most secure structures in cryptocurrency,” SEC Chairman Gary Gensler said in a statement.

FTX filed for bankruptcy on November 11, and at the end of the same month, the company’s new managers first appeared before the Delaware (US) bankruptcy court to begin the restructuring process.

Lawyers for the new board and the current head, John Ray, claim that a “substantial portion” of the company’s assets may have been stolen or missing.

The new managers also denounced the company as having a “total absence of corporate controls” and a lack of “reliable financial information”.

The platform, which was valued at $32,000 million, could have more than a million creditors worldwide. So far, the company has admitted that it owes more than $3 billion to its top 50 creditors.

However, Bankman-Fried blames the bankruptcy in part on the massive sale of cryptocurrencies that took place at the beginning of the year. For the company’s founder, that sale halved FTX’s warranty, of about $30,000 million.

At the time, according to Bankman-Fried, the sale of cryptocurrencies continued, combined with a credit crunch and a “flight from the bank”, causing the collateral to drop to $9 billion before FTX filed for bankruptcy.

Source: El heraldo

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